Beam Therapeutics Inc. (NASDAQ:BEAM) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Beam Therapeutics has an average analyst rating of “Moderate Buy” from 14 analysts, with a 12-month average price target of about $46.83.
• The company recently reported quarterly results that beat estimates, posting EPS of -$0.91 versus expectations of -$1.03 and revenue of $31.74 million, up 323.2% year over year.
• Insider activity included sales by CEO John M. Evans and President Giuseppe Ciaramella, both executed under pre-arranged 10b5-1 plans for tax withholding; insiders sold 79,544 shares in the last quarter.

Beam Therapeutics Inc. (NASDAQ:BEAM - Get Free Report) has earned an average rating of "Moderate Buy" from the fourteen analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $46.8333.

A number of equities research analysts have recently issued reports on BEAM shares. Citigroup increased their target price on Beam Therapeutics from $64.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, March 26th. Tudor Pickering set a $39.00 target price on Beam Therapeutics in a research note on Wednesday, May 13th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Beam Therapeutics in a research note on Monday, April 20th. HC Wainwright restated a "buy" rating and set a $80.00 price objective on shares of Beam Therapeutics in a research note on Thursday, May 21st. Finally, Sanford C. Bernstein lowered their price objective on Beam Therapeutics from $40.00 to $39.00 and set an "outperform" rating for the company in a research note on Wednesday, May 13th.

Beam Therapeutics Price Performance

BEAM stock opened at $34.81 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 16.99 and a current ratio of 16.99. Beam Therapeutics has a 1 year low of $15.60 and a 1 year high of $36.88. The firm has a market cap of $3.58 billion, a P/E ratio of -51.19 and a beta of 2.25. The stock has a 50-day simple moving average of $30.73 and a 200-day simple moving average of $28.66.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.91) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.03) by $0.12. Beam Therapeutics had a negative return on equity of 29.00% and a negative net margin of 39.66%.The business had revenue of $31.74 million during the quarter, compared to analyst estimates of $10.98 million. During the same quarter last year, the firm earned ($1.23) earnings per share. The company's revenue for the quarter was up 323.2% compared to the same quarter last year. On average, equities analysts predict that Beam Therapeutics will post -4.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Beam Therapeutics news, CEO John M. Evans sold 30,078 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $24.58, for a total transaction of $739,317.24. Following the completion of the sale, the chief executive officer owned 1,047,205 shares in the company, valued at $25,740,298.90. This trade represents a 2.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Giuseppe Ciaramella sold 11,810 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $24.58, for a total value of $290,289.80. Following the sale, the president owned 218,406 shares of the company's stock, valued at approximately $5,368,419.48. This trade represents a 5.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 79,544 shares of company stock worth $1,899,942 in the last quarter. Company insiders own 3.80% of the company's stock.

Institutional Investors Weigh In On Beam Therapeutics

Hedge funds have recently bought and sold shares of the business. Hollencrest Capital Management acquired a new stake in Beam Therapeutics during the 1st quarter valued at approximately $43,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Beam Therapeutics during the 4th quarter valued at approximately $47,000. Larson Financial Group LLC grew its position in shares of Beam Therapeutics by 4,370.5% in 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. Van ECK Associates Corp grew its position in shares of Beam Therapeutics by 48.7% in 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. Finally, Kestra Advisory Services LLC acquired a new position in shares of Beam Therapeutics in the 4th quarter worth approximately $59,000. Institutional investors and hedge funds 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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