Beam Therapeutics (NASDAQ:BEAM) Stock Price Up 6.7% – Should You Buy?

Beam Therapeutics Inc. (NASDAQ:BEAM) traded up 6.7% on Wednesday . The company traded as high as $33.00 and last traded at $33.0580. 126,958 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 2,005,278 shares. The stock had previously closed at $30.99.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Wall Street Zen upgraded Beam Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Citigroup boosted their price target on Beam Therapeutics from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, March 26th. Wedbush increased their price objective on Beam Therapeutics from $57.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Canaccord Genuity Group started coverage on Beam Therapeutics in a report on Friday, February 20th. They issued a “buy” rating and a $74.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Beam Therapeutics in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $46.83.

Beam Therapeutics Trading Up 9.0%

The company has a debt-to-equity ratio of 0.09, a current ratio of 16.99 and a quick ratio of 16.99. The company has a market cap of $3.48 billion, a P/E ratio of -49.76 and a beta of 2.25. The stock’s 50-day moving average is $29.67 and its two-hundred day moving average is $28.22.

Beam Therapeutics (NASDAQ:BEAM) last posted its earnings results on Thursday, May 7th. The company reported ($0.91) EPS for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.12. Beam Therapeutics had a negative net margin of 39.66% and a negative return on equity of 29.00%. The business had revenue of $31.74 million during the quarter, compared to the consensus estimate of $10.98 million. During the same quarter in the previous year, the firm posted ($1.23) EPS. The firm’s revenue was up 323.2% on a year-over-year basis. As a group, equities research analysts predict that Beam Therapeutics Inc. will post -4.16 earnings per share for the current fiscal year.

Insider Activity at Beam Therapeutics

In other Beam Therapeutics news, insider Christine Bellon sold 5,956 shares of Beam Therapeutics stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $24.58, for a total value of $146,398.48. Following the completion of the sale, the insider owned 109,711 shares of the company’s stock, valued at approximately $2,696,696.38. The trade was a 5.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John M. Evans sold 30,078 shares of Beam Therapeutics stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $24.58, for a total transaction of $739,317.24. Following the completion of the sale, the chief executive officer directly owned 1,047,205 shares of the company’s stock, valued at approximately $25,740,298.90. This trade represents a 2.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 79,544 shares of company stock worth $1,899,942. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Beam Therapeutics

A number of large investors have recently added to or reduced their stakes in BEAM. Hollencrest Capital Management bought a new stake in Beam Therapeutics in the 1st quarter worth approximately $43,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Beam Therapeutics in the 4th quarter worth approximately $47,000. Larson Financial Group LLC grew its position in Beam Therapeutics by 4,370.5% in the 3rd quarter. Larson Financial Group LLC now owns 1,967 shares of the company’s stock worth $48,000 after purchasing an additional 1,923 shares during the period. Van ECK Associates Corp grew its position in Beam Therapeutics by 48.7% in the 3rd quarter. Van ECK Associates Corp now owns 2,158 shares of the company’s stock worth $52,000 after purchasing an additional 707 shares during the period. Finally, Kestra Advisory Services LLC bought a new stake in shares of Beam Therapeutics during the 4th quarter valued at $59,000. Institutional investors own 99.68% of the company’s stock.

Beam Therapeutics Company Profile

Beam Therapeutics, Inc (NASDAQ: BEAM) is a biotechnology company dedicated to developing precision genetic medicines through its pioneering base editing platform. Headquartered in Cambridge, Massachusetts, with additional research facilities in Philadelphia, the company focuses on engineering molecular editors capable of making precise single-nucleotide changes in DNA. By harnessing its proprietary base editing technology, Beam aims to correct or disrupt disease-causing genetic variants at their source, offering the potential for novel therapies in areas with significant unmet medical need.

Founded in 2017 as a spin-out from Harvard University and the Broad and Whitehead Institutes, Beam was co-founded by leading academic researcher David R.