Beam Therapeutics Inc. (NASDAQ:BEAM) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on Beam Therapeutics, with 10 buys, two holds and one sell among 13 brokerages. The average 12-month price target is $49, compared with the stock’s reported opening price of $26.75.
• Beam reported a quarterly loss of $1.18 per share, missing the $1.11 consensus estimate, while revenue of $0.49 million fell well short of estimates and declined 94.2% year over year.
• Insiders sold approximately $10.5 million of stock during the quarter, while institutional investors own a substantial 99.68% of the company’s shares.

Beam Therapeutics Inc. (NASDAQ:BEAM - Get Free Report) has earned an average recommendation of "Moderate Buy" from the thirteen brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $49.00.

A number of analysts have issued reports on BEAM shares. HC Wainwright reissued a "buy" rating on shares of Beam Therapeutics in a report on Monday, August 10th. Bank of America reaffirmed a "buy" rating and set a $47.00 target price on shares of Beam Therapeutics in a report on Wednesday, July 8th. Wall Street Zen downgraded shares of Beam Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Sunday. Tudor Pickering set a $39.00 price target on Beam Therapeutics in a research note on Wednesday, May 13th. Finally, Sanford C. Bernstein reduced their price target on Beam Therapeutics from $40.00 to $39.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 13th.

Beam Therapeutics Stock Performance

Shares of Beam Therapeutics stock opened at $26.75 on Monday. The firm has a 50-day moving average of $30.26 and a 200-day moving average of $28.79. The stock has a market cap of $2.76 billion, a PE ratio of -31.10 and a beta of 2.23. Beam Therapeutics has a 52-week low of $15.60 and a 52-week high of $38.26. The company has a debt-to-equity ratio of 0.09, a quick ratio of 14.57 and a current ratio of 14.57.

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

Insiders Place Their Bets

In other news, insider Fmr Llc sold 251,488 shares of the company's stock in a transaction on Friday, June 26th. The stock was sold at an average price of $35.26, for a total transaction of $8,867,466.88. Following the completion of the sale, the insider directly owned 854,583 shares in the company, valued at approximately $30,132,596.58. This represents a 22.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Amy Simon sold 16,667 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $25.74, for a total value of $429,008.58. Following the sale, the insider directly owned 85,696 shares in the company, valued at approximately $2,205,815.04. This trade represents a 16.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 301,527 shares of company stock valued at $10,468,500. Corporate insiders own 3.80% of the company's stock.

Institutional Investors Weigh In On Beam Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Hollencrest Capital Management bought a new position in Beam Therapeutics in the 1st quarter valued at about $43,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Beam Therapeutics during the 2nd quarter worth approximately $43,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Beam Therapeutics during the 4th quarter worth approximately $47,000. Larson Financial Group LLC boosted its position in shares of Beam Therapeutics by 4,370.5% during the 3rd quarter. Larson Financial Group LLC now owns 1,967 shares of the company's stock worth $48,000 after acquiring an additional 1,923 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of Beam Therapeutics by 48.7% during the 3rd quarter. Van ECK Associates Corp now owns 2,158 shares of the company's stock worth $52,000 after acquiring an additional 707 shares in the last quarter. Institutional investors own 99.68% of the company's stock.

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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