Beam Therapeutics Inc. (NASDAQ:BEAM) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Beam Therapeutics Inc. (NASDAQ:BEAM) have been given a consensus rating of “Hold” by the thirteen analysts that are presently covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $41.00.

A number of brokerages have weighed in on BEAM. Royal Bank of Canada lifted their price target on shares of Beam Therapeutics from $27.00 to $35.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. upgraded shares of Beam Therapeutics from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $38.00 to $40.00 in a research report on Monday, January 29th. Jefferies Financial Group reiterated a “hold” rating and set a $30.00 price target (down from $75.00) on shares of Beam Therapeutics in a research report on Friday, December 8th. TheStreet upgraded shares of Beam Therapeutics from a “d” rating to a “c-” rating in a research report on Monday, March 11th. Finally, Wedbush reiterated an “outperform” rating and set a $57.00 price target (up from $48.00) on shares of Beam Therapeutics in a research report on Tuesday, February 27th.

Insider Buying and Selling

In related news, insider Christine Bellon sold 1,907 shares of Beam Therapeutics stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $26.42, for a total value of $50,382.94. Following the completion of the transaction, the insider now owns 80,495 shares in the company, valued at $2,126,677.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Christine Bellon sold 1,907 shares of Beam Therapeutics stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $26.42, for a total value of $50,382.94. Following the completion of the transaction, the insider now owns 80,495 shares in the company, valued at $2,126,677.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Fmr Llc sold 1,565 shares of Beam Therapeutics stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $30.76, for a total transaction of $48,139.40. Following the completion of the transaction, the insider now owns 2,771,913 shares of the company’s stock, valued at approximately $85,264,043.88. The disclosure for this sale can be found here. Insiders sold 63,472 shares of company stock worth $1,618,322 over the last 90 days. 4.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BEAM. Comerica Bank raised its holdings in Beam Therapeutics by 80.9% during the fourth quarter. Comerica Bank now owns 973 shares of the company’s stock worth $26,000 after purchasing an additional 435 shares in the last quarter. Allworth Financial LP raised its holdings in 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 in the last quarter. First Horizon Advisors Inc. raised its holdings in Beam Therapeutics by 125.9% during the fourth quarter. First Horizon Advisors Inc. now owns 994 shares of the company’s stock worth $27,000 after purchasing an additional 554 shares in the last quarter. Point72 Middle East FZE acquired a new stake in Beam Therapeutics during the fourth quarter worth approximately $35,000. Finally, National Bank of Canada FI raised its holdings 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 worth $41,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 99.68% of the company’s stock.

Beam Therapeutics Trading Down 2.7 %

Beam Therapeutics stock opened at $33.04 on Monday. Beam Therapeutics has a 12-month low of $16.95 and a 12-month high of $49.50. The stock has a market cap of $2.70 billion, a P/E ratio of -17.39 and a beta of 1.80. The company has a 50-day moving average price of $32.60 and a 200 day moving average price of $27.71.

Beam Therapeutics (NASDAQ:BEAM) last released 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. Beam Therapeutics had a negative net margin of 35.09% and a negative return on equity of 15.90%. The firm had revenue of $316.20 million during the quarter, compared to analysts’ expectations of $34.16 million. During the same period last year, the business earned ($0.54) earnings per share. Beam Therapeutics’s revenue was up 1481.0% compared to the same quarter last year. As a group, analysts forecast that Beam Therapeutics will post -5.5 EPS for the current year.

Beam Therapeutics Company Profile

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.