Beam Therapeutics (NASDAQ:BEAM) Reaches New 1-Year High - Still a Buy?

Key Points

• Beam Therapeutics hit a new 52-week high of $36.88, continuing a strong run and trading well above its recent moving averages.
• Analyst sentiment remains broadly positive, with a Moderate Buy consensus and a $46.83 average target price, though target prices have been mixed across firms.
• The company’s latest earnings beat estimates, with revenue of $31.74 million topping expectations and rising 323.2% year over year, even though Beam still reported a loss.

Beam Therapeutics Inc. (NASDAQ:BEAM - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $36.88 and last traded at $36.31, with a volume of 357131 shares traded. The stock had previously closed at $34.14.

Analyst Upgrades and Downgrades

BEAM has been the topic of several research analyst reports. Sanford C. Bernstein reduced their price target on shares of Beam Therapeutics from $40.00 to $39.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 13th. Wedbush upped their target price on Beam Therapeutics from $57.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday, February 25th. HC Wainwright reissued a "buy" rating and issued a $80.00 target price on shares of Beam Therapeutics in a research report on Thursday, May 21st. Wall Street Zen upgraded Beam Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, February 28th. Finally, Citigroup lifted their price target on Beam Therapeutics from $64.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $46.83.

Beam Therapeutics Price Performance

The firm has a market cap of $3.69 billion, a P/E ratio of -52.79 and a beta of 2.25. The company has a debt-to-equity ratio of 0.09, a current ratio of 16.99 and a quick ratio of 16.99. The firm's 50 day moving average is $30.20 and its 200 day moving average is $28.41.

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

Insider Buying and Selling

In other Beam Therapeutics news, insider Christine Bellon sold 5,956 shares of the business's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $24.58, for a total value of $146,398.48. Following the sale, the insider directly owned 109,711 shares of the company's stock, valued at approximately $2,696,696.38. The trade was a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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, insider Amy Simon sold 6,700 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $24.58, for a total value of $164,686.00. Following the completion of the sale, the insider directly owned 102,735 shares in the company, valued at approximately $2,525,226.30. This represents a 6.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 a total of 79,544 shares of company stock worth $1,899,942 over the last three months. 3.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BEAM. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Beam Therapeutics during the fourth quarter valued at approximately $47,000. Hollencrest Capital Management bought a new stake in shares of Beam Therapeutics in the 1st quarter worth $43,000. Larson Financial Group LLC raised its stake in shares of Beam Therapeutics by 4,370.5% in the third quarter. Larson Financial Group LLC now owns 1,967 shares of the company's stock worth $48,000 after purchasing an additional 1,923 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Beam Therapeutics in the fourth quarter worth $59,000. Finally, Van ECK Associates Corp lifted its holdings in shares of Beam Therapeutics by 48.7% during the third quarter. Van ECK Associates Corp now owns 2,158 shares of the company's stock valued at $52,000 after purchasing an additional 707 shares in the last quarter. 99.68% of the stock is owned by hedge funds and other institutional investors.

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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