Beam Therapeutics (NASDAQ:BEAM) Given "Sell (D-)" Rating at Weiss Ratings

Key Points

• Beam Therapeutics received a "Sell (D-)" rating from Weiss Ratings, while other analysts have varied opinions, including a "buy" rating from HC Wainwright with a price target of $80.00.
• Beam Therapeutics’ stock recently increased by 7.4%, trading at $27.00, with a market capitalization of $2.73 billion despite a recent earnings report showing a negative net margin of 661.31%.
• Institutional investors hold a significant 99.68% of Beam Therapeutics' stock, with ARK Investment and Price T Rowe Associates increasing their stakes substantially in recent months.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report)'s stock had its "sell (d-)" rating reissued by research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

BEAM has been the topic of a number of other research reports. HC Wainwright reaffirmed a "buy" rating and set a $80.00 price target on shares of Beam Therapeutics in a report on Monday, September 15th. Barclays dropped their price target on shares of Beam Therapeutics from $25.00 to $21.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 6th. Cantor Fitzgerald raised shares of Beam Therapeutics to a "strong-buy" rating in a report on Monday, July 21st. Finally, Wall Street Zen downgraded shares of Beam Therapeutics from a "hold" rating to a "sell" rating in a report on Sunday, September 14th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $46.40.

Beam Therapeutics Stock Up 7.4%

Shares of NASDAQ BEAM traded up $1.87 during trading on Wednesday, reaching $27.00. 2,455,977 shares of the company traded hands, compared to its average volume of 2,188,468. The firm has a 50 day simple moving average of $20.09 and a 200-day simple moving average of $18.96. The stock has a market capitalization of $2.73 billion, a PE ratio of -6.00 and a beta of 2.25. Beam Therapeutics has a 52-week low of $13.52 and a 52-week high of $35.25.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($1.00) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.04) by $0.04. The firm had revenue of $8.47 million for the quarter, compared to the consensus estimate of $13.29 million. Beam Therapeutics had a negative net margin of 661.31% and a negative return on equity of 43.15%. The business's quarterly revenue was down 28.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.11) EPS. As a group, research analysts predict that Beam Therapeutics will post -4.57 EPS for the current year.

Insider Buying and Selling

In other Beam Therapeutics news, insider Fmr Llc sold 48,374 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $20.50, for a total transaction of $991,667.00. Following the sale, the insider owned 2,073,665 shares in the company, valued at approximately $42,510,132.50. This trade represents a 2.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.50% of the company's stock.

Institutional Investors Weigh In On Beam Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ARK Investment Management LLC raised its position in shares of Beam Therapeutics by 20.0% during the first quarter. ARK Investment Management LLC now owns 8,480,089 shares of the company's stock valued at $165,616,000 after buying an additional 1,412,060 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Beam Therapeutics by 72.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,026,701 shares of the company's stock valued at $59,112,000 after buying an additional 1,273,559 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Beam Therapeutics by 16.4% during the first quarter. Vanguard Group Inc. now owns 8,871,292 shares of the company's stock valued at $173,256,000 after buying an additional 1,249,303 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of Beam Therapeutics during the second quarter valued at approximately $10,101,000. Finally, EcoR1 Capital LLC bought a new stake in shares of Beam Therapeutics during the first quarter valued at approximately $10,286,000. Institutional investors own 99.68% of the company's stock.

About Beam Therapeutics

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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