Beam Therapeutics Inc. (NASDAQ:BEAM) Given Average Rating of “Moderate Buy” by Brokerages

by · The Markets Daily

Shares of Beam Therapeutics Inc. (NASDAQ:BEAM – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and ten have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $49.00.

BEAM has been the subject of a number of research reports. Bank of America reiterated a “buy” rating and issued a $47.00 price objective on shares of Beam Therapeutics in a research report on Wednesday, July 8th. Wall Street Zen downgraded shares of Beam Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Sunday. Weiss Ratings reissued a “sell (d-)” rating on shares of Beam Therapeutics in a report on Friday, July 17th. HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Beam Therapeutics in a research note on Tuesday, August 25th. Finally, Wedbush reaffirmed an “outperform” rating and set a $65.00 price objective on shares of Beam Therapeutics in a report on Wednesday, September 9th.

Get Our Latest Stock Analysis on Beam Therapeutics

Insider Transactions at Beam Therapeutics

In other news, insider Amy Simon sold 16,667 shares of the stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $25.74, for a total transaction of $429,008.58. Following the sale, the insider directly owned 85,696 shares of the company’s stock, valued at $2,205,815.04. This represents a 16.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Fmr Llc sold 251,488 shares of Beam Therapeutics stock in a transaction on Friday, June 26th. The shares were sold at an average price of $35.26, for a total value of $8,867,466.88. Following the completion of the sale, the insider directly owned 854,583 shares of the company’s stock, valued at $30,132,596.58. This trade represents a 22.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 301,527 shares of company stock valued at $10,468,500 in the last quarter. 3.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Beam Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nykredit A S acquired a new position in Beam Therapeutics in the second quarter valued at about $75,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Beam Therapeutics in the 2nd quarter valued at approximately $1,309,000. Concurrent Investment Advisors LLC grew its position in shares of Beam Therapeutics by 448.7% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 63,879 shares of the company’s stock valued at $2,192,000 after purchasing an additional 52,238 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in Beam Therapeutics during the 2nd quarter worth approximately $535,000. Finally, Two Sigma Securities LLC increased its stake in Beam Therapeutics by 33.9% during the 2nd quarter. Two Sigma Securities LLC now owns 13,700 shares of the company’s stock worth $470,000 after purchasing an additional 3,470 shares in the last quarter. Institutional investors own 99.68% of the company’s stock.

Beam Therapeutics Stock Performance

NASDAQ:BEAM opened at $23.22 on Friday. The firm’s 50-day moving average is $27.99 and its 200-day moving average is $28.79. Beam Therapeutics has a 52-week low of $20.23 and a 52-week high of $38.26. The company has a debt-to-equity ratio of 0.09, a quick ratio of 14.57 and a current ratio of 14.57. The company has a market cap of $2.40 billion, a price-to-earnings ratio of -27.00 and a beta of 2.22.

Beam Therapeutics (NASDAQ:BEAM – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($1.18) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.07). Beam Therapeutics had a negative net margin of 54.75% and a negative return on equity of 30.71%. The company had revenue of $0.49 million for the quarter, compared to analyst estimates of $16.37 million. During the same period in the prior year, the company posted ($1.00) EPS. The firm’s quarterly revenue was down 94.2% on a year-over-year basis. Equities research analysts anticipate that Beam Therapeutics will post -4.49 earnings per share for the current year.

Beam Therapeutics Company Profile

(Get Free Report)

Beam Therapeutics Inc is a biotechnology company focused on developing genetic medicines using its proprietary base-editing technology. Unlike conventional gene-editing approaches that can make double-strand breaks in DNA, base editing is designed to make targeted changes to individual DNA letters, with the goal of treating diseases at their genetic source.

The company is developing both ex vivo and in vivo therapies. Its pipeline has included programs for sickle cell disease, beta thalassemia, alpha-1 antitrypsin deficiency, glycogen storage disease type Ia and certain cancers.

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