Wall Street Zen Upgrades Beam Therapeutics (NASDAQ:BEAM) to “Hold”

Beam Therapeutics (NASDAQ:BEAM) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other research firms also recently issued reports on BEAM. Benchmark restated a “speculative buy” rating on shares of Beam Therapeutics in a report on Monday, November 17th. UBS Group started coverage on Beam Therapeutics in a research note on Wednesday, January 7th. They set a “neutral” rating and a $28.00 price objective on the stock. JPMorgan Chase & Co. reduced their target price on shares of Beam Therapeutics from $48.00 to $46.00 and set an “overweight” rating on the stock in a research report on Thursday, October 9th. Tudor Pickering set a $41.00 price target on Beam Therapeutics in a research note on Wednesday, January 21st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price target on shares of Beam Therapeutics in a report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Beam Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.80.

Beam Therapeutics Trading Down 5.7%

NASDAQ:BEAM opened at $27.62 on Friday. The company’s 50-day moving average is $28.24 and its two-hundred day moving average is $24.03. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of -6.23 and a beta of 2.07. Beam Therapeutics has a 12-month low of $13.52 and a 12-month high of $36.44.

Beam Therapeutics (NASDAQ:BEAM) last announced its earnings results on Tuesday, November 4th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.12). The firm had revenue of $9.70 million for the quarter, compared to analyst estimates of $12.83 million. Beam Therapeutics had a negative return on equity of 42.86% and a negative net margin of 744.41%.During the same quarter last year, the business posted ($1.17) EPS. The firm’s revenue was down 32.2% compared to the same quarter last year. On average, equities research analysts forecast that Beam Therapeutics will post -4.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Beam Therapeutics

In related news, insider Christine Bellon sold 1,371 shares of Beam Therapeutics stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $34.00, for a total value of $46,614.00. Following the sale, the insider directly owned 95,667 shares in the company, valued at $3,252,678. This trade represents a 1.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.50% of the stock is currently owned by company insiders.

Institutional Trading of Beam Therapeutics

Several large investors have recently added to or reduced their stakes in BEAM. Allworth Financial LP increased its holdings in shares of Beam Therapeutics by 7,080.0% during the second quarter. Allworth Financial LP now owns 2,513 shares of the company’s stock valued at $43,000 after purchasing an additional 2,478 shares during the period. Larson Financial Group LLC grew 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 worth $48,000 after purchasing an additional 1,923 shares during the last quarter. Van ECK Associates Corp grew its position in 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 buying an additional 707 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Beam Therapeutics by 1,248.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,817 shares of the company’s stock worth $65,000 after acquiring an additional 3,534 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Beam Therapeutics by 43.4% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,884 shares of the company’s stock worth $66,000 after purchasing an additional 1,175 shares in the last quarter. 99.68% of the stock is currently owned by institutional investors and hedge funds.

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.