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

Beam Therapeutics Inc. (NASDAQ:BEAM) has received an average recommendation of “Moderate Buy” from the eighteen research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, thirteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $45.6875.

BEAM has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Beam Therapeutics in a research note on Wednesday, January 21st. Sanford C. Bernstein increased their price objective on Beam Therapeutics from $37.00 to $41.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Tudor Pickering set a $41.00 price objective on Beam Therapeutics in a report on Wednesday, January 21st. Benchmark reaffirmed a “speculative buy” rating on shares of Beam Therapeutics in a research report on Monday, November 17th. Finally, Wall Street Zen downgraded Beam Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, February 8th.

Beam Therapeutics Trading Down 1.0%

Shares of BEAM opened at $27.59 on Monday. The firm has a fifty day moving average price of $28.60 and a 200-day moving average price of $24.81. The firm has a market capitalization of $2.80 billion, a P/E ratio of -6.23 and a beta of 2.12. Beam Therapeutics has a 12-month low of $13.52 and a 12-month high of $36.44.

Insider Transactions at Beam Therapeutics

In other Beam Therapeutics news, insider Christine Bellon sold 18,629 shares of the firm’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $34.61, for a total transaction of $644,749.69. Following the transaction, the insider owned 97,038 shares of the company’s stock, valued at approximately $3,358,485.18. This trade represents a 16.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Beam Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of BEAM. Squarepoint Ops LLC raised its stake in Beam Therapeutics by 468.3% in the second quarter. Squarepoint Ops LLC now owns 138,765 shares of the company’s stock valued at $2,360,000 after buying an additional 114,349 shares during the last quarter. Capital Fund Management S.A. acquired a new position in shares of Beam Therapeutics during the second quarter valued at about $654,000. Privium Fund Management B.V. purchased a new position in shares of Beam Therapeutics in the 3rd quarter valued at approximately $1,480,000. Y Intercept Hong Kong Ltd acquired a new stake in Beam Therapeutics in the 3rd quarter worth approximately $1,059,000. Finally, SG Americas Securities LLC grew its position in Beam Therapeutics by 498.9% during the 3rd quarter. SG Americas Securities LLC now owns 43,220 shares of the company’s stock worth $1,049,000 after purchasing an additional 36,004 shares during the last quarter. 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.