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

Beam Therapeutics Inc. (NASDAQ:BEAM) has earned an average recommendation of “Hold” from the thirteen analysts that are covering the company, Marketbeat reports. Eight investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $41.00.

A number of research firms have recently weighed in on BEAM. BMO Capital Markets reissued an “outperform” rating and issued a $57.00 price target on shares of Beam Therapeutics in a report on Wednesday, March 27th. TheStreet raised Beam Therapeutics from a “d” rating to a “c-” rating in a report on Monday, March 11th. Barclays boosted their price target on Beam Therapeutics from $26.00 to $42.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. upgraded Beam Therapeutics from a “neutral” rating to an “overweight” rating and upped their target price for the company from $38.00 to $40.00 in a research note on Monday, January 29th. Finally, Royal Bank of Canada upped their target price on Beam Therapeutics from $27.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 28th.

Insider Transactions at Beam Therapeutics

In other news, CEO John M. Evans sold 60,000 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $25.33, for a total value of $1,519,800.00. Following the completion of the sale, the chief executive officer now owns 1,058,262 shares of the company’s stock, valued at $26,805,776.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Fmr Llc sold 1,565 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $30.76, for a total value 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 $85,264,043.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John M. Evans sold 60,000 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $25.33, for a total value of $1,519,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,058,262 shares of the company’s stock, valued at approximately $26,805,776.46. The disclosure for this sale can be found here. Insiders sold 156,804 shares of company stock valued at $4,731,669 over the last quarter. Company insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Krilogy Financial LLC raised its stake in Beam Therapeutics by 42.3% during the first quarter. Krilogy Financial LLC now owns 33,602 shares of the company’s stock valued at $1,110,000 after buying an additional 9,985 shares in the last quarter. Fishman Jay A Ltd. MI acquired a new stake in Beam Therapeutics during the first quarter valued at approximately $330,000. SteelPeak Wealth LLC acquired a new stake in Beam Therapeutics during the first quarter valued at approximately $248,000. Thrive Wealth Management LLC acquired a new stake in Beam Therapeutics during the first quarter valued at approximately $229,000. Finally, DLK Investment Management LLC acquired a new stake in Beam Therapeutics during the first quarter valued at approximately $239,000. Hedge funds and other institutional investors own 99.68% of the company’s stock.

Beam Therapeutics Stock Performance

BEAM opened at $21.60 on Friday. Beam Therapeutics has a one year low of $16.95 and a one year high of $49.50. The company has a market cap of $1.78 billion, a price-to-earnings ratio of -11.37 and a beta of 1.77. The business’s fifty day moving average is $32.27 and its two-hundred day moving average is $28.04.

Beam Therapeutics (NASDAQ:BEAM) last released its quarterly earnings results on Tuesday, February 27th. The company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.69) by $2.42. Beam Therapeutics had a negative return on equity of 15.90% and a negative net margin of 35.09%. The company had revenue of $316.20 million during the quarter, compared to analysts’ expectations of $34.16 million. During the same period in the previous year, the firm posted ($0.54) earnings per share. The business’s revenue for the quarter was up 1481.0% compared to the same quarter last year. On average, analysts predict that Beam Therapeutics will post -5.53 EPS for the current fiscal 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.