Beam Therapeutics (NASDAQ:BEAM) Trading Up 8.4% - What's Next?

Key Points

• Shares jumped ~8.4% intraday, trading as high as $31.53 (last at $29.40) on Monday with about 857,753 shares changing hands, roughly 57% below the stock's average daily volume.
• Blowout quarterly results: Beam reported $2.33 EPS versus consensus of ($1.13) and revenue of $114.11M versus $13.22M (revenue +280% YoY), though the company remains unprofitable with negative ROE/net margin and analysts expect -3.9 EPS for the year.
• Mixed analyst view but institutional support: MarketBeat shows a consensus "Moderate Buy" target of $49.36 (ratings range from Strong Buy to Sell), institutional investors hold ~99.68% of shares, while insiders recently sold shares under 10b5-1 plans to cover tax obligations.

Beam Therapeutics Inc. (NASDAQ:BEAM - Get Free Report) shot up 8.4% on Monday . The stock traded as high as $31.53 and last traded at $29.3980. 857,753 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 2,004,157 shares. The stock had previously closed at $27.11.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BEAM. Weiss Ratings reiterated a "sell (d-)" rating on shares of Beam Therapeutics in a report on Monday, April 20th. Wall Street Zen raised Beam Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, February 28th. Canaccord Genuity Group assumed coverage on Beam Therapeutics in a research note on Friday, February 20th. They set a "buy" rating and a $74.00 price objective on the stock. Tudor Pickering set a $41.00 price objective on Beam Therapeutics in a report on Wednesday, January 21st. Finally, Sanford C. Bernstein raised their target price on shares of Beam Therapeutics from $37.00 to $41.00 and gave the company an "outperform" rating in a research note on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $49.36.

Beam Therapeutics Trading Up 9.8%

The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of -29.55 and a beta of 2.18. The company's 50 day moving average is $26.95 and its 200-day moving average is $26.87.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $2.33 EPS for the quarter, topping analysts' consensus estimates of ($1.13) by $3.46. The business had revenue of $114.11 million during the quarter, compared to analysts' expectations of $13.22 million. Beam Therapeutics had a negative return on equity of 30.65% and a negative net margin of 57.24%.Beam Therapeutics's quarterly revenue was up 280.3% on a year-over-year basis. During the same quarter last year, the company posted ($1.09) earnings per share. Research analysts expect that Beam Therapeutics Inc. will post -3.9 EPS for the current year.

Insider Transactions at Beam Therapeutics

In other Beam Therapeutics news, insider Amy Simon sold 6,700 shares of the business's stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $24.58, for a total value of $164,686.00. Following the completion of the sale, the insider owned 102,735 shares of the company's stock, valued at $2,525,226.30. The trade was a 6.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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, 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 transaction, the chief executive officer directly owned 1,047,205 shares in the company, valued at $25,740,298.90. This represents a 2.79% decrease in their ownership of the stock. 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. In the last 90 days, insiders sold 79,544 shares of company stock valued at $1,899,942. 3.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Beam Therapeutics

Large investors have recently added to or reduced their stakes in the stock. ARK Investment Management LLC increased its stake in Beam Therapeutics by 12.9% during the 4th quarter. ARK Investment Management LLC now owns 12,467,189 shares of the company's stock worth $345,590,000 after acquiring an additional 1,428,355 shares during the period. Farallon Capital Management LLC lifted its position in shares of Beam Therapeutics by 0.5% during the 3rd quarter. Farallon Capital Management LLC now owns 10,063,111 shares of the company's stock valued at $244,232,000 after acquiring an additional 50,000 shares during the period. State Street Corp grew its holdings in shares of Beam Therapeutics by 30.4% during the 4th quarter. State Street Corp now owns 5,228,529 shares of the company's stock worth $144,935,000 after purchasing an additional 1,219,871 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Beam Therapeutics by 2.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,830,738 shares of the company's stock worth $117,242,000 after purchasing an additional 101,294 shares during the period. Finally, Amova Asset Management Americas Inc. increased its position in shares of Beam Therapeutics by 2.2% in the third quarter. Amova Asset Management Americas Inc. now owns 4,830,738 shares of the company's stock worth $117,242,000 after purchasing an additional 103,939 shares during the period. Institutional investors and hedge funds own 99.68% of the company's stock.

About Beam Therapeutics

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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