Beam Therapeutics Inc. (NASDAQ:BEAM – Get Free Report) has been given an average rating of “Moderate Buy” by the ten research firms that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $45.80.
BEAM has been the topic of several analyst reports. Stifel Nicolaus raised their target price on Beam Therapeutics from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $27.00 target price on shares of Beam Therapeutics in a report on Thursday, September 19th. Wedbush reissued an “outperform” rating and set a $57.00 price target on shares of Beam Therapeutics in a report on Tuesday, August 6th. Scotiabank began coverage on shares of Beam Therapeutics in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $24.00 price objective for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $80.00 price objective on shares of Beam Therapeutics in a research report on Thursday, August 22nd.
Read Our Latest Research Report on BEAM
Insider Transactions at Beam Therapeutics
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the company. ARCH Venture Management LLC acquired a new stake in shares of Beam Therapeutics in the second quarter valued at $127,530,000. Farallon Capital Management LLC grew its position in Beam Therapeutics by 75.4% in the 2nd quarter. Farallon Capital Management LLC now owns 7,913,123 shares of the company’s stock valued at $185,404,000 after acquiring an additional 3,401,370 shares in the last quarter. Darwin Global Management Ltd. purchased a new stake in Beam Therapeutics during the first quarter worth about $70,032,000. Price T Rowe Associates Inc. MD lifted its position in shares of Beam Therapeutics by 3,137.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,246,189 shares of the company’s stock worth $41,175,000 after purchasing an additional 1,207,699 shares in the last quarter. Finally, Bellevue Group AG lifted its position in shares of Beam Therapeutics by 71.7% during the first quarter. Bellevue Group AG now owns 1,193,121 shares of the company’s stock worth $39,421,000 after purchasing an additional 498,300 shares in the last quarter. 99.68% of the stock is currently owned by institutional investors and hedge funds.
Beam Therapeutics Trading Up 6.2 %
BEAM opened at $24.36 on Tuesday. Beam Therapeutics has a 12-month low of $18.85 and a 12-month high of $49.50. The firm has a 50 day moving average of $24.27 and a two-hundred day moving average of $24.62. The firm has a market capitalization of $2.01 billion, a PE ratio of -13.46 and a beta of 1.87.
Beam Therapeutics (NASDAQ:BEAM – Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported ($1.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.13) by $0.02. The company had revenue of $11.80 million during the quarter, compared to the consensus estimate of $14.18 million. Beam Therapeutics had a negative net margin of 40.56% and a negative return on equity of 16.22%. The firm’s quarterly revenue was down 41.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.08) earnings per share. As a group, analysts predict that Beam Therapeutics will post -4.6 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.
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