Beam Therapeutics (NASDAQ:BEAM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Beam Therapeutics (NASDAQ:BEAM) from a strong sell rating to a sell rating in a research report report published on Saturday,Wall Street Zen reports.

BEAM has been the topic of several other reports. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price objective on shares of Beam Therapeutics in a research note on Tuesday, August 25th. Tudor Pickering set a $39.00 target price on Beam Therapeutics in a report on Wednesday, May 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beam Therapeutics in a report on Friday, July 17th. Bank of America reissued a “buy” rating and issued a $47.00 price objective on shares of Beam Therapeutics in a research note on Wednesday, July 8th. Finally, Sanford C. Bernstein decreased their target price on Beam Therapeutics from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Beam Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

Beam Therapeutics Stock Performance

Beam Therapeutics stock opened at $29.66 on Friday. The firm has a market capitalization of $3.06 billion, a P/E ratio of -34.49 and a beta of 2.22. The stock has a fifty day moving average price of $29.24 and a two-hundred day moving average price of $28.97. Beam Therapeutics has a 52-week low of $18.72 and a 52-week high of $38.26. The company has a debt-to-equity ratio of 0.09, a current ratio of 14.57 and a quick ratio of 14.57.

Beam Therapeutics (NASDAQ:BEAM) last posted its earnings results on Tuesday, August 4th. The company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($1.11) by ($0.07). The firm had revenue of $0.49 million during the quarter, compared to the consensus estimate of $16.37 million. Beam Therapeutics had a negative return on equity of 30.71% and a negative net margin of 54.75%.The firm’s revenue for the quarter was down 94.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.00) EPS. As a group, analysts anticipate that Beam Therapeutics will post -4.49 EPS for the current fiscal year.

Insider Activity

In other Beam Therapeutics news, insider Fmr Llc sold 251,488 shares of the stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $35.26, for a total value of $8,867,466.88. Following the transaction, the insider owned 854,583 shares of the company’s stock, valued at approximately $30,132,596.58. This represents a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Amy Simon sold 16,667 shares of the firm’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $25.74, for a total value of $429,008.58. Following the transaction, the insider owned 85,696 shares in the company, valued at approximately $2,205,815.04. This trade represents a 16.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 301,527 shares of company stock valued at $10,468,500 over the last three months. Company insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Hollencrest Capital Management acquired a new stake in Beam Therapeutics during the 1st quarter worth $43,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Beam Therapeutics in the second quarter worth about $43,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Beam Therapeutics during the fourth quarter worth about $47,000. Larson Financial Group LLC raised its position in shares of Beam Therapeutics by 4,370.5% during the third 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. Finally, Van ECK Associates Corp lifted its holdings in shares of Beam Therapeutics by 48.7% during the 3rd quarter. Van ECK Associates Corp now owns 2,158 shares of the company’s stock valued at $52,000 after purchasing an additional 707 shares in the last quarter. Institutional investors and hedge funds own 99.68% of the company’s stock.

About Beam Therapeutics

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.