Beam Therapeutics Inc. (NASDAQ:BEAM) Receives $43.92 Consensus Target Price from Analysts

Beam Therapeutics Inc. (NASDAQ:BEAMGet Free Report) has earned a consensus rating of “Hold” from the thirteen brokerages that are presently covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $43.92.

BEAM has been the topic of a number of analyst reports. Bank of America cut shares of Beam Therapeutics from a “buy” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a report on Friday, December 15th. JPMorgan Chase & Co. raised shares of Beam Therapeutics from a “neutral” rating to an “overweight” rating and raised their target price for the company from $38.00 to $40.00 in a research note on Monday, January 29th. Cantor Fitzgerald cut shares of Beam Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Friday, October 20th. Leerink Partnrs cut shares of Beam Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Friday, October 20th. Finally, SVB Leerink cut shares of Beam Therapeutics from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $75.00 to $20.00 in a research note on Friday, October 20th.

Check Out Our Latest Stock Analysis on BEAM

Beam Therapeutics Price Performance

NASDAQ BEAM opened at $27.88 on Friday. The company’s fifty day moving average price is $27.03 and its two-hundred day moving average price is $25.32. Beam Therapeutics has a 12 month low of $16.95 and a 12 month high of $48.06. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of -6.69 and a beta of 1.66.

Beam Therapeutics (NASDAQ:BEAMGet Free Report) last posted its quarterly earnings results on Wednesday, November 8th. The company reported ($1.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.33) by $0.11. Beam Therapeutics had a negative net margin of 384.62% and a negative return on equity of 40.66%. The company had revenue of $17.20 million for the quarter, compared to the consensus estimate of $17.09 million. During the same period last year, the firm posted ($1.56) EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, analysts anticipate that Beam Therapeutics will post -4.84 EPS for the current year.

Insiders Place Their Bets

In other Beam Therapeutics news, CEO John M. Evans sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $25.33, for a total value of $1,519,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,058,262 shares in the company, valued at $26,805,776.46. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Christine Bellon sold 1,907 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $26.42, for a total transaction of $50,382.94. Following the completion of the sale, the insider now directly owns 80,495 shares in the company, valued at $2,126,677.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John M. Evans sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $25.33, for a total transaction of $1,519,800.00. Following the sale, the chief executive officer now owns 1,058,262 shares of the company’s stock, valued at $26,805,776.46. The disclosure for this sale can be found here. Corporate insiders own 4.40% of the company’s stock.

Institutional Trading of Beam Therapeutics

Several institutional investors have recently made changes to their positions in BEAM. Allworth Financial LP boosted its holdings in shares of Beam Therapeutics by 163.7% during the third quarter. Allworth Financial LP now owns 1,105 shares of the company’s stock worth $27,000 after purchasing an additional 686 shares during the period. First Horizon Advisors Inc. raised its position in Beam Therapeutics by 125.9% during the fourth quarter. First Horizon Advisors Inc. now owns 994 shares of the company’s stock valued at $27,000 after acquiring an additional 554 shares in the last quarter. Point72 Middle East FZE bought a new position in Beam Therapeutics during the fourth quarter valued at approximately $35,000. National Bank of Canada FI raised its position in Beam Therapeutics by 200.0% during the fourth quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock valued at $41,000 after acquiring an additional 1,000 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in Beam Therapeutics by 84.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,272 shares of the company’s stock valued at $55,000 after acquiring an additional 1,037 shares in the last quarter. 80.64% of the stock is currently owned by institutional investors and hedge funds.

About Beam Therapeutics

(Get Free Report

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 and BEAM-102 for the treatment of sickle cell disease beta thalassemia; BEAM-201, an allogeneic chimeric antigen receptor T cell for the treatment of refractory T-cell acute lymphoblastic leukemia/T cell lymphoblastic lymphoma; BEAM-301, a liver-targeting LNP formulation for the treatment of glycogen storage disease 1a; and BEAM-302, a liver-targeting LNP formulation to treat severe alpha-1 antitrypsin deficiency.

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Analyst Recommendations for Beam Therapeutics (NASDAQ:BEAM)

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