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

Shares of Beam Therapeutics Inc. (NASDAQ:BEAM) have been given an average recommendation of “Moderate Buy” by the sixteen brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $47.50.

A number of research firms have recently weighed in on BEAM. Wedbush raised their price target on Beam Therapeutics from $57.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. UBS Group assumed coverage on Beam Therapeutics in a research note on Wednesday, January 7th. They issued a “neutral” rating and a $28.00 price target for the company. Tudor Pickering set a $41.00 price objective on Beam Therapeutics in a report on Wednesday, January 21st. Sanford C. Bernstein raised their price objective on shares of Beam Therapeutics from $37.00 to $41.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Finally, Royal Bank Of Canada lifted their target price 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.

Beam Therapeutics Trading Down 4.8%

NASDAQ BEAM opened at $23.95 on Friday. Beam Therapeutics has a 1-year low of $13.52 and a 1-year high of $36.44. The company has a market capitalization of $2.44 billion, a PE ratio of -23.71 and a beta of 2.12. The firm’s fifty day simple moving average is $28.04 and its 200-day simple moving average is $26.30.

Beam Therapeutics (NASDAQ:BEAM) last released its quarterly earnings data on Tuesday, February 24th. The company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.13) by $3.46. Beam Therapeutics had a negative return on equity of 30.65% and a negative net margin of 57.24%.The firm had revenue of $114.11 million during the quarter, compared to analysts’ expectations of $13.22 million. During the same quarter last year, the firm earned ($1.09) earnings per share. The business’s revenue for the quarter was up 280.3% on a year-over-year basis. As a group, analysts predict that Beam Therapeutics will post -4.57 EPS for the current year.

Insider Buying and Selling at Beam Therapeutics

In related news, insider Christine Bellon sold 18,629 shares of Beam Therapeutics stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $34.61, for a total value of $644,749.69. Following the completion of the sale, the insider owned 97,038 shares of the company’s stock, valued at approximately $3,358,485.18. The trade was a 16.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Beam Therapeutics

Several institutional investors have recently bought and sold shares of the stock. Allworth Financial LP boosted its stake in shares of Beam Therapeutics by 7,080.0% during the 2nd quarter. Allworth Financial LP now owns 2,513 shares of the company’s stock worth $43,000 after acquiring an additional 2,478 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Beam Therapeutics during the 4th quarter valued at about $47,000. Larson Financial Group LLC raised its stake in shares of Beam Therapeutics by 4,370.5% in the 3rd quarter. Larson Financial Group LLC now owns 1,967 shares of the company’s stock valued at $48,000 after acquiring an additional 1,923 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Beam Therapeutics by 48.7% in the 3rd quarter. Van ECK Associates Corp now owns 2,158 shares of the company’s stock valued at $52,000 after acquiring an additional 707 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in Beam Therapeutics in the 4th quarter worth approximately $59,000. 99.68% of the stock is currently owned by institutional investors.

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.