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

Shares of Beam Therapeutics Inc. (NASDAQ:BEAM) have been given a consensus rating of “Moderate Buy” by the fourteen ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $46.8333.

A number of equities research analysts recently commented on BEAM shares. Wall Street Zen upgraded Beam Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Royal Bank Of Canada lifted their price objective on shares of Beam Therapeutics from $22.00 to $26.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 25th. Canaccord Genuity Group began coverage on shares of Beam Therapeutics in a report on Friday, February 20th. They issued a “buy” rating and a $74.00 price objective on the stock. Wedbush raised their target price on shares of Beam Therapeutics from $57.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Finally, Sanford C. Bernstein decreased their target price on shares of Beam Therapeutics from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th.

Insider Buying and Selling

In other Beam Therapeutics news, insider Amy Simon sold 6,700 shares of Beam Therapeutics stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $24.58, for a total transaction of $164,686.00. Following the completion of the transaction, the insider owned 102,735 shares in the company, valued at approximately $2,525,226.30. This trade represents a 6.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Christine Bellon sold 5,956 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $24.58, for a total value of $146,398.48. Following the completion of the transaction, the insider directly owned 109,711 shares of the company’s stock, valued at approximately $2,696,696.38. This trade represents a 5.15% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 79,544 shares of company stock valued at $1,899,942 over the last quarter. 3.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Beam Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Beam Therapeutics during the 4th quarter valued at approximately $47,000. Hollencrest Capital Management acquired a new stake in Beam Therapeutics during the first quarter valued at $43,000. Larson Financial Group LLC increased its holdings in Beam Therapeutics by 4,370.5% in the third quarter. Larson Financial Group LLC now owns 1,967 shares of the company’s stock valued at $48,000 after buying an additional 1,923 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in Beam Therapeutics in the fourth quarter valued at $59,000. Finally, Van ECK Associates Corp raised its position in shares of Beam Therapeutics by 48.7% in the third quarter. Van ECK Associates Corp now owns 2,158 shares of the company’s stock worth $52,000 after acquiring an additional 707 shares during the period. Institutional investors and hedge funds own 99.68% of the company’s stock.

Beam Therapeutics Stock Performance

Shares of BEAM stock opened at $30.47 on Wednesday. The business has a fifty day moving average of $29.05 and a 200 day moving average of $27.98. Beam Therapeutics has a 1 year low of $15.60 and a 1 year high of $36.44. The company has a debt-to-equity ratio of 0.09, a current ratio of 16.99 and a quick ratio of 16.99. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of -44.81 and a beta of 2.25.

Beam Therapeutics (NASDAQ:BEAM) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.91) earnings per share for the quarter, beating the consensus estimate of ($1.03) by $0.12. Beam Therapeutics had a negative return on equity of 29.00% and a negative net margin of 39.66%.The business had revenue of $31.74 million for the quarter, compared to the consensus estimate of $10.98 million. During the same quarter in the previous year, the business earned ($1.23) EPS. The company’s quarterly revenue was up 323.2% compared to the same quarter last year. As a group, research analysts expect that Beam Therapeutics will post -4.16 earnings per share for the current year.

Beam Therapeutics Company Profile

Beam Therapeutics, Inc (NASDAQ: BEAM) is a biotechnology company dedicated to developing precision genetic medicines through its pioneering base editing platform. Headquartered in Cambridge, Massachusetts, with additional research facilities in Philadelphia, the company focuses on engineering molecular editors capable of making precise single-nucleotide changes in DNA. By harnessing its proprietary base editing technology, Beam aims to correct or disrupt disease-causing genetic variants at their source, offering the potential for novel therapies in areas with significant unmet medical need.

Founded in 2017 as a spin-out from Harvard University and the Broad and Whitehead Institutes, Beam was co-founded by leading academic researcher David R.