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

Shares of Beam Therapeutics Inc. (NASDAQ:BEAM) have been given a consensus recommendation of “Moderate Buy” by the fourteen ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $46.8333.

Several brokerages recently issued reports on BEAM. Weiss Ratings restated a “sell (d-)” rating on shares of Beam Therapeutics in a research report on Monday, April 20th. Wedbush boosted their price target on Beam Therapeutics from $57.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Sanford C. Bernstein lowered their price objective on Beam Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Beam Therapeutics in a report on Thursday, May 21st. Finally, Tudor Pickering set a $39.00 price objective on Beam Therapeutics in a report on Wednesday, May 13th.

Insiders Place Their Bets

In other Beam Therapeutics news, President Giuseppe Ciaramella sold 11,810 shares of Beam Therapeutics stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $24.58, for a total value of $290,289.80. Following the sale, the president owned 218,406 shares of the company’s stock, valued at approximately $5,368,419.48. The trade was a 5.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 Amy Simon sold 6,700 shares of Beam Therapeutics stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $24.58, for a total value of $164,686.00. Following the completion of the sale, the insider directly owned 102,735 shares in the company, valued at $2,525,226.30. This represents a 6.12% 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 worth $1,899,942 over the last quarter. 3.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Beam Therapeutics

A number of institutional investors have recently added to or reduced their stakes in BEAM. Hollencrest Capital Management purchased a new stake in shares of Beam Therapeutics during the 1st quarter worth approximately $43,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Beam Therapeutics in the 4th quarter valued at approximately $47,000. Larson Financial Group LLC lifted its stake in 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 buying an additional 1,923 shares in the last quarter. Van ECK Associates Corp lifted its stake in 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 buying an additional 707 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in Beam Therapeutics in the 4th quarter valued at approximately $59,000. Hedge funds and other institutional investors own 99.68% of the company’s stock.

Beam Therapeutics Stock Performance

Shares of BEAM stock opened at $28.96 on Wednesday. The stock has a market capitalization of $2.98 billion, a PE ratio of -42.59 and a beta of 2.25. Beam Therapeutics has a 52-week low of $15.60 and a 52-week high of $36.44. The stock’s 50-day moving average price is $28.29 and its 200 day moving average price is $27.62. The company has a quick ratio of 16.99, a current ratio of 16.99 and a debt-to-equity ratio of 0.09.

Beam Therapeutics (NASDAQ:BEAM) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.91) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.03) by $0.12. The firm had revenue of $31.74 million for the quarter, compared to analysts’ expectations of $10.98 million. Beam Therapeutics had a negative return on equity of 29.00% and a negative net margin of 39.66%.The firm’s revenue for the quarter was up 323.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.23) EPS. As a group, equities research analysts forecast that Beam Therapeutics will post -4.23 EPS 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.