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

Shares of Beam Therapeutics Inc. (NASDAQ:BEAM) have been assigned a consensus recommendation of “Hold” from the thirteen analysts that are covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $41.00.

Several equities analysts have issued reports on BEAM shares. Wedbush reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Beam Therapeutics in a report on Tuesday. Barclays increased their target price on shares of Beam Therapeutics from $26.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 28th. JPMorgan Chase & Co. upgraded shares of Beam Therapeutics from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $38.00 to $40.00 in a research note on Monday, January 29th. BMO Capital Markets reiterated an “outperform” rating and set a $57.00 target price on shares of Beam Therapeutics in a research note on Wednesday, March 27th. Finally, TheStreet upgraded shares of Beam Therapeutics from a “d” rating to a “c-” rating in a research note on Monday, March 11th.

Insider Transactions at Beam Therapeutics

In other news, President Giuseppe Ciaramella sold 4,534 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $32.12, for a total value of $145,632.08. Following the completion of the sale, the president now owns 169,616 shares in the company, valued at approximately $5,448,065.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related 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 sale, the chief executive officer now owns 1,058,262 shares in the company, valued at $26,805,776.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Giuseppe Ciaramella sold 4,534 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $32.12, for a total transaction of $145,632.08. Following the completion of the sale, the president now owns 169,616 shares of the company’s stock, valued at approximately $5,448,065.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 156,804 shares of company stock worth $4,731,669. Company insiders own 4.40% of the company’s stock.

Institutional Trading of Beam Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in Beam Therapeutics during the 3rd quarter valued at about $363,000. ARK Investment Management LLC increased its holdings in Beam Therapeutics by 4.8% during the 3rd quarter. ARK Investment Management LLC now owns 8,783,891 shares of the company’s stock valued at $211,253,000 after acquiring an additional 401,296 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in Beam Therapeutics by 18.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 30,913 shares of the company’s stock valued at $743,000 after acquiring an additional 4,794 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Beam Therapeutics by 11.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 9,812 shares of the company’s stock valued at $236,000 after acquiring an additional 1,030 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Beam Therapeutics by 2.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 493,916 shares of the company’s stock valued at $11,879,000 after acquiring an additional 12,060 shares in the last quarter. Institutional investors and hedge funds own 99.68% of the company’s stock.

Beam Therapeutics Stock Performance

Shares of BEAM stock opened at $23.47 on Friday. The stock’s 50-day moving average is $32.67 and its two-hundred day moving average is $28.13. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of -12.35 and a beta of 1.77. Beam Therapeutics has a 1 year low of $16.95 and a 1 year high of $49.50.

Beam Therapeutics (NASDAQ:BEAM) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $2.42. The company had revenue of $316.20 million for the quarter, compared to analyst estimates of $34.16 million. Beam Therapeutics had a negative return on equity of 15.90% and a negative net margin of 35.09%. The business’s quarterly revenue was up 1481.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.54) earnings per share. As a group, research analysts predict that Beam Therapeutics will post -5.53 EPS for the current 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.