Beam Therapeutics Inc. (NASDAQ:BEAM) Receives $40.18 Consensus Price Target from Brokerages

Shares of Beam Therapeutics Inc. (NASDAQ:BEAMGet Free Report) have earned an average recommendation of “Hold” from the thirteen analysts that are currently covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $40.18.

A number of research firms have recently weighed in on BEAM. BMO Capital Markets restated an “outperform” rating and issued a $57.00 target price on shares of Beam Therapeutics in a report on Wednesday, March 27th. Barclays dropped their target price on Beam Therapeutics from $42.00 to $33.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 8th. Finally, Wedbush reaffirmed an “outperform” rating and set a $57.00 price target on shares of Beam Therapeutics in a research report on Tuesday, May 7th.

Read Our Latest Analysis on Beam Therapeutics

Beam Therapeutics Stock Down 0.0 %

BEAM stock opened at $23.84 on Wednesday. Beam Therapeutics has a twelve month low of $16.95 and a twelve month high of $49.50. The stock’s 50 day moving average is $23.78 and its 200-day moving average is $27.62. The firm has a market capitalization of $1.96 billion, a PE ratio of -13.39 and a beta of 1.87.

Beam Therapeutics (NASDAQ:BEAMGet Free Report) last posted its earnings results on Tuesday, May 7th. The company reported ($1.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.21. Beam Therapeutics had a negative return on equity of 15.46% and a negative net margin of 37.33%. The company had revenue of $7.40 million for the quarter, compared to analyst estimates of $17.09 million. During the same quarter last year, the company earned ($1.33) earnings per share. The company’s revenue for the quarter was down 69.4% on a year-over-year basis. On average, equities research analysts anticipate that Beam Therapeutics will post -4.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Beam Therapeutics news, CEO John M. Evans sold 60,000 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $24.50, for a total value of $1,470,000.00. Following the completion of the sale, the chief executive officer now directly owns 998,343 shares of the company’s stock, valued at $24,459,403.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.20% of the company’s stock.

Institutional Trading of Beam Therapeutics

Large investors have recently bought and sold shares of the company. First Horizon Advisors Inc. grew its position in shares of Beam Therapeutics by 125.9% in the fourth quarter. First Horizon Advisors Inc. now owns 994 shares of the company’s stock valued at $27,000 after purchasing an additional 554 shares in the last quarter. E Fund Management Co. Ltd. grew its position in shares of Beam Therapeutics by 4.0% in the fourth quarter. E Fund Management Co. Ltd. now owns 18,174 shares of the company’s stock valued at $495,000 after purchasing an additional 704 shares in the last quarter. American International Group Inc. grew its position in shares of Beam Therapeutics by 2.0% in the first quarter. American International Group Inc. now owns 36,760 shares of the company’s stock valued at $1,215,000 after purchasing an additional 732 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Beam Therapeutics by 4.5% in the first quarter. Principal Financial Group Inc. now owns 18,418 shares of the company’s stock valued at $609,000 after purchasing an additional 789 shares in the last quarter. Finally, Riverview Trust Co purchased a new position in shares of Beam Therapeutics in the first quarter valued at $26,000. 99.68% of the stock is owned by hedge funds and other institutional investors.

Beam Therapeutics Company Profile

(Get Free Report

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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