Shares of Beam Therapeutics Inc. (NASDAQ:BEAM) have earned a consensus recommendation of “Hold” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $111.75.
A number of brokerages have recently commented on BEAM. JPMorgan Chase & Co. cut Beam Therapeutics from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $38.00 to $100.00 in a research report on Friday, January 29th. Wedbush boosted their price objective on shares of Beam Therapeutics from $42.00 to $112.00 in a report on Thursday, February 25th. Barclays restated an “equal weight” rating and issued a $90.00 target price (up previously from $47.00) on shares of Beam Therapeutics in a report on Monday, March 8th. Wells Fargo & Company initiated coverage on shares of Beam Therapeutics in a research note on Tuesday, February 16th. They set an “overweight” rating and a $145.00 target price for the company. Finally, Stifel Nicolaus initiated coverage on Beam Therapeutics in a research note on Tuesday, January 5th. They issued a “hold” rating on the stock.
Beam Therapeutics stock traded down $0.81 during trading hours on Thursday, hitting $70.08. 21,599 shares of the stock traded hands, compared to its average volume of 1,092,146. Beam Therapeutics has a one year low of $14.80 and a one year high of $126.90. The company has a market cap of $4.38 billion and a PE ratio of -5.05. The firm’s 50-day moving average price is $82.12 and its two-hundred day moving average price is $81.11.
Institutional investors and hedge funds have recently modified their holdings of the business. Laurel Wealth Advisors LLC purchased a new position in shares of Beam Therapeutics during the 4th quarter valued at about $36,000. Allworth Financial LP raised its stake in Beam Therapeutics by 110.0% during the 4th quarter. Allworth Financial LP now owns 462 shares of the company’s stock worth $38,000 after acquiring an additional 242 shares during the period. Baillie Gifford & Co. purchased a new position in Beam Therapeutics during the fourth quarter valued at approximately $40,000. Captrust Financial Advisors boosted its position in shares of Beam Therapeutics by 40.0% in the fourth quarter. Captrust Financial Advisors now owns 980 shares of the company’s stock worth $80,000 after purchasing an additional 280 shares during the period. Finally, Penserra Capital Management LLC purchased a new stake in shares of Beam Therapeutics in the fourth quarter worth $108,000. Institutional investors and hedge funds own 49.79% of the company’s stock.
Beam Therapeutics Company Profile
Beam Therapeutics Inc, a biotechnology company, develops precision genetic medicines for patients suffering from serious diseases in the United States. The company is developing BEAM-101 for the treatment of sickle cell disease and beta thalassemia; BEAM-102 for the treatment of sickle cell disease; and BEAM-201, an allogeneic chimeric antigen receptor T cell for the treatment of relapsed/refractory T-cell acute lymphoblastic leukemia.
Recommended Story: Short Selling – Explanation For Shorting Stocks
Receive News & Ratings for Beam Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beam Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.