Beam Therapeutics Inc. (NASDAQ:BEAM) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the ten research firms that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $45.80.

A number of equities research analysts have issued reports on the company. Wedbush reiterated an "outperform" rating and issued a $57.00 price target on shares of Beam Therapeutics in a research note on Tuesday. Stifel Nicolaus increased their price target on shares of Beam Therapeutics from $66.00 to $69.00 and gave the company a "buy" rating in a report on Wednesday, September 11th. Barclays decreased their price objective on shares of Beam Therapeutics from $33.00 to $31.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada reissued a "sector perform" rating and issued a $27.00 price objective on shares of Beam Therapeutics in a research note on Thursday, September 19th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Beam Therapeutics from $45.00 to $48.00 and gave the company an "overweight" rating in a research note on Wednesday, August 7th.

Insider Activity at Beam Therapeutics

In other Beam Therapeutics news, President Giuseppe Ciaramella sold 51,110 shares of the company's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $26.27, for a total value of $1,342,659.70. Following the completion of the transaction, the president now owns 160,260 shares in the company, valued at approximately $4,210,030.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, President Giuseppe Ciaramella sold 51,110 shares of the business's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $26.27, for a total transaction of $1,342,659.70. Following the completion of the sale, the president now owns 160,260 shares of the company's stock, valued at $4,210,030.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John M. Evans sold 60,000 shares of the business's stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $24.60, for a total transaction of $1,476,000.00. Following the sale, the chief executive officer now directly owns 938,659 shares of the company's stock, valued at $23,091,011.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,784 shares of company stock worth $2,834,485 over the last three months. Company insiders own 4.20% of the company's stock.

Institutional Trading of Beam Therapeutics

Several large investors have recently bought and sold shares of the business. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Beam Therapeutics by 59.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,552,829 shares of the company's stock valued at $87,044,000 after buying an additional 1,328,414 shares during the period. Atria Investments Inc purchased a new stake in shares of Beam Therapeutics in the 3rd quarter valued at approximately $200,000. Arcadia Investment Management Corp MI purchased a new stake in shares of Beam Therapeutics in the 3rd quarter valued at approximately $98,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Beam Therapeutics by 62.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 16,087 shares of the company's stock valued at $394,000 after buying an additional 6,181 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Beam Therapeutics by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,981 shares of the company's stock valued at $75,000 after buying an additional 524 shares during the period. Hedge funds and other institutional investors own 99.68% of the company's stock.

Beam Therapeutics Trading Down 1.8 %

Shares of BEAM stock traded down $0.43 during trading on Tuesday, reaching $23.93. 2,296,826 shares of the company's stock traded hands, compared to its average volume of 1,228,745. The company has a market capitalization of $1.97 billion, a P/E ratio of -13.22 and a beta of 1.86. The firm's 50-day moving average is $24.23 and its 200 day moving average is $24.62. Beam Therapeutics has a 1 year low of $18.85 and a 1 year high of $49.50.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($1.17) EPS for the quarter, missing analysts' consensus estimates of ($1.13) by ($0.04). The company had revenue of $14.30 million during the quarter, compared to the consensus estimate of $14.52 million. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 40.56%. Beam Therapeutics's quarterly revenue was down 16.9% on a year-over-year basis. During the same period in the previous year, the company earned ($1.22) EPS. As a group, sell-side analysts predict that Beam Therapeutics will post -4.6 earnings per share for the current fiscal year.

Beam Therapeutics Company Profile

Beam Therapeutics Inc, a biotechnology company, engages in the development of precision genetic medicines for patients suffering from serious diseases in the United States. It develops BEAM-101 for the treatment of sickle cell disease or beta-thalassemia; and BEAM-302, a liver-targeting LNP formulation to treat severe alpha-1 antitrypsin deficiency; BEAM-201, an anti-CD7 CAR-T product candidate, which is in Phase 1/2 clinical trials for the treatment of refractory T-cell acute lymphoblastic leukemia/T cell lymphoblastic lymphoma; and BEAM-301, a liver-targeting LNP formulation for the treatment of glycogen storage disease 1a.