Shares of Beam Therapeutics Inc. (NASDAQ:BEAM – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the twelve research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $50.10.
Several research firms have recently weighed in on BEAM. Wedbush reissued an “outperform” rating and set a $65.00 price objective on shares of Beam Therapeutics in a report on Wednesday, September 9th. HC Wainwright restated a “buy” rating and issued a $80.00 target price on shares of Beam Therapeutics in a report on Tuesday, August 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beam Therapeutics in a research report on Friday, July 17th. William Blair upgraded shares of Beam Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 23rd. Finally, Wall Street Zen raised Beam Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, October 3rd.
Check Out Our Latest Report on BEAM
Beam Therapeutics Price Performance
Beam Therapeutics (NASDAQ:BEAM – Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.07). Beam Therapeutics had a negative net margin of 54.75% and a negative return on equity of 30.71%. The company had revenue of $0.49 million for the quarter, compared to the consensus estimate of $16.37 million. During the same quarter in the prior year, the company posted ($1.00) EPS. Beam Therapeutics’s revenue was down 94.2% on a year-over-year basis. On average, sell-side analysts forecast that Beam Therapeutics will post -4.49 EPS for the current year.
Insider Activity at Beam Therapeutics
In related news, insider Amy Simon sold 16,667 shares of the company’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $25.74, for a total transaction of $429,008.58. Following the completion of the sale, the insider owned 85,696 shares in the company, valued at approximately $2,205,815.04. This represents a 16.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.80% of the stock is owned by insiders.
Institutional Investors Weigh In On Beam Therapeutics
A number of large investors have recently made changes to their positions in BEAM. BlackRock Inc. bought a new stake in Beam Therapeutics during the second quarter worth approximately $308,796,000. ARCH Venture Management LLC purchased a new stake in Beam Therapeutics during the second quarter valued at approximately $155,771,929. ADAR1 Capital Management LLC purchased a new stake in Beam Therapeutics during the first quarter valued at approximately $34,467,000. MWG Caph Ltd bought a new stake in shares of Beam Therapeutics in the 4th quarter valued at approximately $35,119,000. Finally, Bank of America Corp DE bought a new stake in shares of Beam Therapeutics in the 2nd quarter valued at approximately $24,733,000. 99.68% of the stock is currently owned by institutional investors.
Beam Therapeutics Company Profile
Beam Therapeutics Inc is a biotechnology company developing precision genetic medicines using base editing, a technology designed to make targeted changes to DNA without cutting both strands of the DNA double helix. The company’s platform is intended to address diseases caused by specific genetic mutations and to support the development of potentially durable treatments.
Beam’s research and development activities focus on areas including hematology, liver diseases and genetic disorders.
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