Beam Therapeutics Inc. (NASDAQ:BEAM – Get 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
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:BEAM – Get 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
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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