Shares of Beam Therapeutics Inc. (NASDAQ:BEAM - Get Free Report) traded up 7.6% on Monday . The stock traded as high as $22.19 and last traded at $22.34. 270,215 shares were traded during trading, a decline of 83% from the average session volume of 1,561,293 shares. The stock had previously closed at $20.75.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the stock. Bank of America raised shares of Beam Therapeutics from a "neutral" rating to a "buy" rating and set a $42.00 price target on the stock in a research note on Friday, March 28th. HC Wainwright reissued a "buy" rating and issued a $80.00 target price on shares of Beam Therapeutics in a research report on Monday, April 7th. Wells Fargo & Company decreased their target price on Beam Therapeutics from $75.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Cantor Fitzgerald raised shares of Beam Therapeutics to a "strong-buy" rating in a research report on Monday. Finally, Barclays cut their price objective on Beam Therapeutics from $31.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Beam Therapeutics has a consensus rating of "Buy" and an average target price of $48.75.
Check Out Our Latest Report on BEAM
Beam Therapeutics Stock Performance
The business's 50 day moving average is $18.26 and its 200 day moving average is $21.48.
Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.13). Beam Therapeutics had a negative return on equity of 44.24% and a negative net margin of 609.24%. The business had revenue of $7.47 million for the quarter, compared to analyst estimates of $14.69 million. During the same period in the prior year, the company posted ($1.21) earnings per share. The company's revenue was up 1.4% compared to the same quarter last year. Analysts expect that Beam Therapeutics Inc. will post -4.57 EPS for the current year.
Institutional Investors Weigh In On Beam Therapeutics
Several institutional investors have recently added to or reduced their stakes in BEAM. Northern Trust Corp boosted its stake in Beam Therapeutics by 7.2% in the fourth quarter. Northern Trust Corp now owns 740,506 shares of the company's stock valued at $18,365,000 after acquiring an additional 49,415 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of Beam Therapeutics by 18.4% in the 4th quarter. Teacher Retirement System of Texas now owns 20,767 shares of the company's stock valued at $515,000 after purchasing an additional 3,222 shares during the period. GAMMA Investing LLC boosted its position in shares of Beam Therapeutics by 549.9% in the 1st quarter. GAMMA Investing LLC now owns 37,185 shares of the company's stock valued at $726,000 after purchasing an additional 31,463 shares during the period. Amalgamated Bank grew its stake in Beam Therapeutics by 20.4% during the 1st quarter. Amalgamated Bank now owns 3,153 shares of the company's stock worth $62,000 after buying an additional 534 shares during the last quarter. Finally, Stifel Financial Corp increased its position in Beam Therapeutics by 27.8% during the fourth quarter. Stifel Financial Corp now owns 13,662 shares of the company's stock worth $339,000 after buying an additional 2,976 shares during the period. Hedge funds and other institutional investors own 99.68% of the company's stock.
Beam Therapeutics Company Profile
(
Get Free Report)
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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