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

Beam Therapeutics Inc. (NASDAQ:BEAM) has been assigned a consensus rating of “Moderate Buy” from the twelve analysts that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $47.67.

BEAM has been the topic of a number of analyst reports. HC Wainwright restated a “buy” rating and set a $80.00 target price on shares of Beam Therapeutics in a research report on Monday, December 9th. Sanford C. Bernstein raised shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Leerink Partners raised shares of Beam Therapeutics from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $27.00 to $39.00 in a report on Wednesday, November 6th. Cantor Fitzgerald raised shares of Beam Therapeutics to a “hold” rating in a report on Tuesday, December 10th. Finally, Wedbush reaffirmed an “outperform” rating and set a $57.00 price target on shares of Beam Therapeutics in a report on Monday, January 13th.

Insider Activity at Beam Therapeutics

In other Beam Therapeutics news, President Giuseppe Ciaramella sold 51,110 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $26.36, for a total value of $1,347,259.60. Following the completion of the sale, the president now directly owns 109,150 shares in the company, valued at approximately $2,877,194. This trade represents a 31.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Christine Bellon sold 1,241 shares of Beam Therapeutics stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $24.68, for a total transaction of $30,627.88. Following the transaction, the insider now owns 102,968 shares of the company’s stock, valued at $2,541,250.24. This represents a 1.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Blue Trust Inc. raised its position in Beam Therapeutics by 84.0% in the third quarter. Blue Trust Inc. now owns 3,135 shares of the company’s stock worth $73,000 after acquiring an additional 1,431 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Beam Therapeutics by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,981 shares of the company’s stock valued at $75,000 after acquiring an additional 524 shares in the last quarter. Quarry LP grew its stake in Beam Therapeutics by 350.0% during the second quarter. Quarry LP now owns 3,600 shares of the company’s stock valued at $84,000 after acquiring an additional 2,800 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in Beam Therapeutics in the 3rd quarter worth approximately $98,000. Finally, KBC Group NV grew its stake in Beam Therapeutics by 103.2% in the 4th quarter. KBC Group NV now owns 4,143 shares of the company’s stock worth $103,000 after buying an additional 2,104 shares in the last quarter. 99.68% of the stock is owned by institutional investors.

Beam Therapeutics Price Performance

Shares of NASDAQ:BEAM opened at $26.29 on Friday. The company’s 50-day moving average price is $26.31 and its two-hundred day moving average price is $25.73. Beam Therapeutics has a one year low of $20.84 and a one year high of $49.50. The stock has a market capitalization of $2.18 billion, a PE ratio of -14.94 and a beta of 1.92.

Beam Therapeutics (NASDAQ:BEAM) last issued its earnings results on Tuesday, November 5th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.01). Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The firm had revenue of $14.30 million during the quarter, compared to the consensus estimate of $14.52 million. During the same period in the previous year, the company posted ($1.22) earnings per share. The firm’s revenue for the quarter was down 16.9% compared to the same quarter last year. On average, analysts anticipate that Beam Therapeutics will post -4.64 earnings per share for the current fiscal year.

About Beam Therapeutics

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.