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

Shares of Beam Therapeutics Inc. (NASDAQ:BEAM) have earned a consensus rating of “Buy” from the fourteen research firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $50.82.

A number of equities analysts recently issued reports on the company. HC Wainwright reissued a “buy” rating and set a $80.00 price target on shares of Beam Therapeutics in a report on Monday, March 10th. Sanford C. Bernstein raised Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Beam Therapeutics in a report on Wednesday, March 12th. Jones Trading raised Beam Therapeutics from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Monday, March 10th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $57.00 price objective on shares of Beam Therapeutics in a report on Monday, March 10th.

Insider Buying and Selling

In other Beam Therapeutics news, insider Christine Bellon sold 1,241 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $24.68, for a total value of $30,627.88. Following the completion of the transaction, the insider now directly owns 102,968 shares in the company, valued at approximately $2,541,250.24. The trade was a 1.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John M. Evans sold 30,000 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $26.75, for a total value of $802,500.00. Following the completion of the transaction, the chief executive officer now owns 908,659 shares of the company’s stock, valued at $24,306,628.25. This trade represents a 3.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BEAM. Wealthfront Advisers LLC acquired a new position in Beam Therapeutics in the 4th quarter valued at $41,000. GF Fund Management CO. LTD. purchased a new stake in shares of Beam Therapeutics during the 4th quarter valued at $43,000. Sterling Capital Management LLC grew its stake in shares of Beam Therapeutics by 816.0% during the 4th quarter. Sterling Capital Management LLC now owns 2,409 shares of the company’s stock valued at $60,000 after buying an additional 2,146 shares during the period. KBC Group NV grew its stake in shares of Beam Therapeutics by 103.2% during the 4th quarter. KBC Group NV now owns 4,143 shares of the company’s stock valued at $103,000 after buying an additional 2,104 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Beam Therapeutics by 36.3% during the 4th quarter. Blue Trust Inc. now owns 4,274 shares of the company’s stock valued at $105,000 after buying an additional 1,139 shares during the period. 99.68% of the stock is currently owned by institutional investors and hedge funds.

Beam Therapeutics Stock Down 3.3 %

NASDAQ BEAM opened at $24.23 on Monday. Beam Therapeutics has a 52-week low of $20.84 and a 52-week high of $36.75. The business’s 50-day moving average price is $27.09 and its 200 day moving average price is $26.01. The firm has a market cap of $2.42 billion, a P/E ratio of -13.77 and a beta of 1.91.

Beam Therapeutics (NASDAQ:BEAM) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($1.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.25) by $0.16. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 41.07%. The firm had revenue of $30.00 million for the quarter, compared to analyst estimates of $16.47 million. During the same quarter last year, the company posted $1.73 earnings per share. The business’s revenue was down 90.5% on a year-over-year basis. As a group, analysts anticipate that Beam Therapeutics will post -4.57 earnings per share for the current year.

Beam Therapeutics Company Profile

Beam Therapeutics Inc, a biotechnology company, engages in the development of precision genetic medicines for patients suffering from serious diseases in the United States. It develops BEAM-101 for the treatment of sickle cell disease or beta-thalassemia; and BEAM-302, a liver-targeting LNP formulation to treat severe alpha-1 antitrypsin deficiency; BEAM-201, an anti-CD7 CAR-T product candidate, which is in Phase 1/2 clinical trials for the treatment of refractory T-cell acute lymphoblastic leukemia/T cell lymphoblastic lymphoma; and BEAM-301, a liver-targeting LNP formulation for the treatment of glycogen storage disease 1a.