Beam Therapeutics (NASDAQ:BEAM) Receives Outperform Rating from Wedbush

Wedbush reissued their outperform rating on shares of Beam Therapeutics (NASDAQ:BEAMGet Rating) in a research report report published on Monday, RTT News reports. They currently have a $100.00 price target on the stock.

Several other equities analysts have also recently issued reports on the company. Credit Suisse Group initiated coverage on Beam Therapeutics in a research note on Thursday, April 28th. They issued a neutral rating and a $62.00 price objective for the company. BMO Capital Markets lifted their price objective on Beam Therapeutics from $41.00 to $61.00 in a research note on Monday, July 18th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $106.29.

Beam Therapeutics Price Performance

NASDAQ BEAM opened at $58.84 on Monday. The company has a market cap of $4.13 billion, a P/E ratio of -16.30 and a beta of 1.76. The stock has a 50-day moving average of $45.41 and a two-hundred day moving average of $51.96. Beam Therapeutics has a 1-year low of $27.77 and a 1-year high of $116.91.

Beam Therapeutics (NASDAQ:BEAMGet Rating) last released its earnings results on Monday, May 9th. The company reported ($1.01) earnings per share for the quarter, beating the consensus estimate of ($1.10) by $0.09. The company had revenue of $8.40 million during the quarter, compared to the consensus estimate of $44.15 million. Beam Therapeutics had a negative return on equity of 28.02% and a negative net margin of 395.37%. Beam Therapeutics’s revenue was up 139900.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($3.35) EPS. On average, analysts anticipate that Beam Therapeutics will post -4.26 EPS for the current fiscal year.

Insider Buying and Selling

In other Beam Therapeutics news, CEO John M. Evans sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $65.75, for a total value of $1,972,500.00. Following the completion of the sale, the chief executive officer now owns 1,088,520 shares in the company, valued at $71,570,190. The sale was disclosed in a document filed with the SEC, which is available through this link. 4.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Beam Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. TFC Financial Management increased its holdings in shares of Beam Therapeutics by 111.1% in the fourth quarter. TFC Financial Management now owns 570 shares of the company’s stock valued at $45,000 after purchasing an additional 300 shares during the period. Cutler Group LP increased its holdings in shares of Beam Therapeutics by 825.0% in the first quarter. Cutler Group LP now owns 925 shares of the company’s stock valued at $53,000 after purchasing an additional 825 shares during the period. Kessler Investment Group LLC acquired a new position in shares of Beam Therapeutics in the first quarter valued at approximately $58,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Beam Therapeutics in the first quarter valued at approximately $62,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Beam Therapeutics in the first quarter valued at approximately $86,000. Hedge funds and other institutional investors own 68.80% of the company’s stock.

Beam Therapeutics Company Profile

(Get Rating)

Beam Therapeutics Inc, a biotechnology company, develops precision genetic medicines for patients suffering from serious diseases in the United States. The company is developing BEAM-101 for the treatment of sickle cell disease and beta thalassemia; BEAM-102 for the treatment of sickle cell disease; and BEAM-201, an allogeneic chimeric antigen receptor T cell for the treatment of relapsed/refractory T-cell acute lymphoblastic leukemia; and BEAM-301, a liver-targeted development candidate for the treatment of patients with Glycogen Storage Disease Type Ia.

See Also

Analyst Recommendations for Beam Therapeutics (NASDAQ:BEAM)

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