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

Beam Therapeutics Inc. (NASDAQ:BEAM) has been given a consensus rating of “Hold” by the thirteen ratings firms that are presently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $44.18.

BEAM has been the subject of several recent research reports. Stifel Nicolaus lifted their price objective on Beam Therapeutics from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Barclays lowered their price target on shares of Beam Therapeutics from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 7th. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Beam Therapeutics in a report on Thursday, August 22nd. JPMorgan Chase & Co. boosted their target price on shares of Beam Therapeutics from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Finally, Wedbush restated an “outperform” rating and set a $57.00 target price on shares of Beam Therapeutics in a research report on Tuesday, August 6th.

Insider Activity

In related news, CEO John M. Evans sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $24.50, for a total value of $1,470,000.00. Following the sale, the chief executive officer now directly owns 998,343 shares of the company’s stock, valued at $24,459,403.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BEAM. Quarry LP boosted its holdings in shares of Beam Therapeutics by 350.0% in the 2nd quarter. Quarry LP now owns 3,600 shares of the company’s stock worth $84,000 after purchasing an additional 2,800 shares in the last quarter. Algert Global LLC purchased a new stake in Beam Therapeutics in the second quarter worth approximately $267,000. Scientech Research LLC raised its stake in shares of Beam Therapeutics by 167.3% during the second quarter. Scientech Research LLC now owns 51,876 shares of the company’s stock worth $1,215,000 after acquiring an additional 32,469 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Beam Therapeutics by 30.8% during the second quarter. The Manufacturers Life Insurance Company now owns 137,089 shares of the company’s stock worth $3,212,000 after acquiring an additional 32,279 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Beam Therapeutics by 38.1% in the 2nd quarter. AQR Capital Management LLC now owns 9,011 shares of the company’s stock valued at $211,000 after purchasing an additional 2,487 shares in the last quarter. Institutional investors own 99.68% of the company’s stock.

Beam Therapeutics Stock Down 1.5 %

Beam Therapeutics stock opened at $25.65 on Monday. The firm has a 50 day moving average price of $26.30 and a 200-day moving average price of $26.36. Beam Therapeutics has a twelve month low of $16.95 and a twelve month high of $49.50. The company has a market capitalization of $2.11 billion, a P/E ratio of -14.41 and a beta of 1.86.

Beam Therapeutics (NASDAQ:BEAM) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($1.11) earnings per share for the quarter, beating the consensus estimate of ($1.13) by $0.02. The business had revenue of $11.80 million during the quarter, compared to analyst estimates of $14.18 million. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 40.56%. Beam Therapeutics’s revenue was down 41.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.08) earnings per share. Equities analysts expect that Beam Therapeutics will post -4.6 EPS for the current fiscal year.

About Beam Therapeutics

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.