Beam Therapeutics (NASDAQ:BEAM) Rating Increased to Sell at Wall Street Zen

Key Points

• Wall Street Zen upgraded Beam Therapeutics from “strong sell” to “sell,” while broader analyst sentiment remains “Moderate Buy,” with an average price target of $49.00.
• Beam shares opened at $29.66, with a market capitalization of approximately $3.06 billion and a 52-week range of $18.72 to $38.26.
• The company reported a quarterly loss of $1.18 per share, missing estimates, while revenue fell 94.2% year over year to $490,000. Institutional investors own nearly 99.7% of the stock, although insiders have recently sold shares.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

BEAM has been the subject of a number of other research reports. HC Wainwright reiterated a "buy" rating and set a $80.00 price objective on shares of Beam Therapeutics in a research note on Tuesday, August 25th. Tudor Pickering set a $39.00 price objective on shares of Beam Therapeutics in a report on Wednesday, May 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of Beam Therapeutics in a research report on Friday, July 17th. Bank of America restated a "buy" rating and issued a $47.00 target price on shares of Beam Therapeutics in a research note on Wednesday, July 8th. Finally, Sanford C. Bernstein lowered their price target on Beam Therapeutics from $40.00 to $39.00 and set an "outperform" rating for the company in a research report on Wednesday, May 13th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Beam Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $49.00.

Beam Therapeutics Stock Performance

BEAM opened at $29.66 on Friday. The company has a market cap of $3.06 billion, a P/E ratio of -34.49 and a beta of 2.22. The company has a quick ratio of 14.57, a current ratio of 14.57 and a debt-to-equity ratio of 0.09. The firm's 50-day moving average price is $29.35 and its 200-day moving average price is $28.94. Beam Therapeutics has a 52-week low of $18.72 and a 52-week high of $38.26.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported ($1.18) EPS for the quarter, missing analysts' consensus estimates of ($1.11) by ($0.07). The company had revenue of $0.49 million during the quarter, compared to analyst estimates of $16.37 million. Beam Therapeutics had a negative return on equity of 30.71% and a negative net margin of 54.75%.The firm's revenue for the quarter was down 94.2% on a year-over-year basis. During the same quarter last year, the business earned ($1.00) earnings per share. As a group, equities analysts anticipate that Beam Therapeutics will post -4.49 EPS for the current fiscal year.

Insider Buying and Selling

In other Beam Therapeutics news, insider Fmr Llc sold 251,488 shares of the firm's stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $35.26, for a total transaction of $8,867,466.88. Following the completion of the transaction, the insider directly owned 854,583 shares of the company's stock, valued at approximately $30,132,596.58. This trade represents a 22.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Amy Simon sold 16,667 shares of Beam Therapeutics stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $25.74, for a total transaction of $429,008.58. Following the sale, the insider owned 85,696 shares of the company's stock, valued at approximately $2,205,815.04. The trade was a 16.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 301,527 shares of company stock valued at $10,468,500 over the last three months. 3.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BEAM. BlackRock Inc. purchased a new position in shares of Beam Therapeutics during the 2nd quarter valued at about $308,796,000. ARCH Venture Management LLC acquired a new position in shares of Beam Therapeutics in the 2nd quarter valued at about $155,771,929. California State Teachers Retirement System grew its holdings in Beam Therapeutics by 3,228.9% during the second quarter. California State Teachers Retirement System now owns 3,586,612 shares of the company's stock worth $123,093,000 after acquiring an additional 3,478,871 shares during the period. ADAR1 Capital Management LLC acquired a new stake in Beam Therapeutics during the first quarter worth about $34,467,000. Finally, ARK Investment Management LLC raised its position in Beam Therapeutics by 12.9% during the fourth quarter. ARK Investment Management LLC now owns 12,467,189 shares of the company's stock valued at $345,590,000 after acquiring an additional 1,428,355 shares in the last quarter. 99.68% of the stock is currently owned by institutional investors and hedge funds.

Beam Therapeutics Company Profile

Beam Therapeutics, Inc NASDAQ: BEAM is a biotechnology company dedicated to developing precision genetic medicines through its pioneering base editing platform. Headquartered in Cambridge, Massachusetts, with additional research facilities in Philadelphia, the company focuses on engineering molecular editors capable of making precise single-nucleotide changes in DNA. By harnessing its proprietary base editing technology, Beam aims to correct or disrupt disease-causing genetic variants at their source, offering the potential for novel therapies in areas with significant unmet medical need.

Founded in 2017 as a spin-out from Harvard University and the Broad and Whitehead Institutes, Beam was co-founded by leading academic researcher David R.

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