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

Beam Therapeutics Inc. (NASDAQ:BEAM) has received a consensus rating of “Moderate Buy” from the fourteen research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $46.8462.

Several research firms have commented on BEAM. HC Wainwright restated a “buy” rating and issued a $80.00 price target on shares of Beam Therapeutics in a report on Tuesday, July 7th. Tudor Pickering set a $39.00 price objective on shares of Beam Therapeutics in a report on Wednesday, May 13th. Bank of America reissued a “buy” rating and issued a $47.00 target price on shares of Beam Therapeutics in a research report on Wednesday, July 8th. Sanford C. Bernstein dropped their price target 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. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beam Therapeutics in a research note on Friday, July 17th.

Insider Buying and Selling at Beam Therapeutics

In related news, insider Fmr Llc sold 251,488 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $35.26, for a total value of $8,867,466.88. Following the transaction, the insider directly owned 854,583 shares of the company’s stock, valued at approximately $30,132,596.58. This trade represents a 22.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.80% of the company’s stock.

Institutional Trading of Beam Therapeutics

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

Beam Therapeutics Price Performance

Shares of NASDAQ:BEAM opened at $26.64 on Thursday. The company has a market cap of $2.74 billion, a P/E ratio of -39.18 and a beta of 2.18. 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 has a 52 week low of $15.60 and a 52 week high of $38.26. The business has a fifty day simple moving average of $31.28 and a 200-day simple moving average of $29.30.

Beam Therapeutics (NASDAQ:BEAM) last released its earnings results on Thursday, May 7th. The company reported ($0.91) EPS 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 firm had revenue of $31.74 million during the quarter, compared to analyst estimates of $10.98 million. During the same period in the prior year, the firm posted ($1.23) earnings per share. The business’s quarterly revenue was up 323.2% compared to the same quarter last year. Equities research analysts forecast that Beam Therapeutics will post -4.16 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.