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

Beam Therapeutics Inc. (NASDAQ:BEAMGet Rating) has received an average rating of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $92.29.

BEAM has been the subject of a number of research reports. BMO Capital Markets lifted their price target on shares of Beam Therapeutics from $41.00 to $61.00 in a research report on Monday, July 18th. Wedbush reiterated an “outperform” rating and set a $100.00 price target on shares of Beam Therapeutics in a research report on Monday, August 1st. Barclays lifted their price target on shares of Beam Therapeutics from $38.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 10th. Finally, SVB Leerink reduced their price target on shares of Beam Therapeutics from $118.00 to $113.00 and set an “outperform” rating for the company in a research report on Wednesday, August 10th.

Insider Buying and Selling

In related news, CEO John M. Evans sold 30,000 shares of Beam Therapeutics stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $65.75, for a total transaction of $1,972,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,088,520 shares in the company, valued at approximately $71,570,190. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Beam Therapeutics news, insider Fmr Llc sold 20,326 shares of Beam Therapeutics stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $60.50, for a total value of $1,229,723.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John M. Evans sold 30,000 shares of Beam Therapeutics stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $65.75, for a total transaction of $1,972,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,088,520 shares of the company’s stock, valued at $71,570,190. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

Institutional Trading of Beam Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Amundi grew its stake in Beam Therapeutics by 29.0% in the 2nd quarter. Amundi now owns 2,909 shares of the company’s stock worth $163,000 after acquiring an additional 654 shares during the period. Legal & General Group Plc grew its stake in Beam Therapeutics by 32.5% in the 2nd quarter. Legal & General Group Plc now owns 56,524 shares of the company’s stock worth $2,188,000 after acquiring an additional 13,863 shares during the period. Goldman Sachs Group Inc. grew its stake in Beam Therapeutics by 15.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 953,927 shares of the company’s stock worth $36,927,000 after acquiring an additional 124,680 shares during the period. Yiheng Capital Management L.P. grew its stake in shares of Beam Therapeutics by 1,454.7% during the 2nd quarter. Yiheng Capital Management L.P. now owns 363,800 shares of the company’s stock valued at $14,083,000 after buying an additional 340,400 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Beam Therapeutics by 7.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 23,485 shares of the company’s stock valued at $909,000 after buying an additional 1,549 shares during the period. 81.73% of the stock is owned by hedge funds and other institutional investors.

Beam Therapeutics Stock Down 3.5 %

Shares of NASDAQ:BEAM opened at $51.62 on Thursday. The company has a market cap of $3.63 billion, a P/E ratio of -15.18 and a beta of 1.82. Beam Therapeutics has a 52 week low of $27.77 and a 52 week high of $100.06. The company has a 50-day moving average price of $59.46 and a 200 day moving average price of $49.97.

Beam Therapeutics (NASDAQ:BEAMGet Rating) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($1.02) EPS for the quarter, beating analysts’ consensus estimates of ($1.08) by $0.06. The firm had revenue of $16.65 million during the quarter, compared to the consensus estimate of $9.44 million. Beam Therapeutics had a negative net margin of 304.21% and a negative return on equity of 27.45%. The firm’s revenue was up 277433.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.23) earnings per share. Analysts expect that Beam Therapeutics will post -4.74 EPS for the current year.

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.

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