Beam Therapeutics (NASDAQ:BEAM) Stock Price Breaks Above Two Hundred Day Moving Average Following Analyst Downgrade

Key Points

• Beam Therapeutics shares rose 15.6% and moved above their 200-day moving average of $28.21, trading near $28.78 after Wall Street Zen upgraded its rating from “strong sell” to “sell.”
• Analyst sentiment remains mixed but leans bullish overall: the stock carries a “Moderate Buy” consensus rating with a $46.40 price target, while Wedbush recently cut its target from $65 to $28 despite maintaining an “Outperform” rating.
• Early BEAM-301 Phase 1/2 results showed proof of concept in glycogen storage disease type Ia, including improved glucose control and reduced need for starch supplementation; Beam plans to discuss a potential regulatory pathway with the FDA.

Beam Therapeutics Inc. (NASDAQ:BEAM - Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday after Wall Street Zen upgraded the stock from a strong sell rating to a sell rating. The stock has a two hundred day moving average of $28.21 and traded as high as $28.86. Beam Therapeutics shares last traded at $28.78, with a volume of 5,002,300 shares changing hands.

Other research analysts have also recently issued research reports about the stock. HC Wainwright reiterated a "buy" rating and set a $80.00 price target on shares of Beam Therapeutics in a report on Tuesday, August 25th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Beam Therapeutics in a research report on Friday, July 17th. Wedbush reissued an "outperform" rating and set a $65.00 price target on shares of Beam Therapeutics in a report on Wednesday, September 9th. William Blair upgraded shares of Beam Therapeutics to a "strong-buy" rating in a research report on Wednesday, September 23rd. Finally, Bank of America reissued a "buy" rating and issued a $47.00 price target on shares of Beam Therapeutics in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has assigned 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 price target of $46.40.

Insider Transactions at Beam Therapeutics

In other Beam Therapeutics news, CEO John Evans sold 25,000 shares of the company's stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $23.57, for a total value of $589,250.00. Following the sale, the chief executive officer owned 1,047,205 shares of the company's stock, valued at $24,682,621.85. This represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.80% of the company's stock.

Key Stories Impacting Beam Therapeutics

Here are the key news stories impacting Beam Therapeutics this week:

• Positive Sentiment: Initial Phase 1/2 data provided proof of concept for BEAM-301: two patients in the 40 mg cohort achieved 15 hours of controlled fasting, showed improved glucose control and no longer required starch supplementation. The reported safety profile was consistent with other lipid-nanoparticle therapies. Beam Therapeutics BEAM-301 clinical data
• Positive Sentiment: Beam plans to discuss a potential regulatory path with the FDA, while enrollment in the 60 mg cohort is underway. A successful one-time treatment could represent a significant commercial opportunity in the rare-disease market. MarketScreener BEAM-301 clinical data
• Positive Sentiment: H.C. Wainwright reportedly viewed the early BEAM-301 results as supporting substantial additional upside, helping reinforce bullish sentiment around Beam’s gene-editing platform. Stocktwits report on BEAM-301 and H.C. Wainwright outlook
• Negative Sentiment: Wedbush cut its price target for BEAM sharply from $65 to $28, citing a much lower valuation ceiling despite maintaining an “Outperform” rating. The new target suggests limited near-term upside based on the quoted share price. Wedbush lowers Beam Therapeutics price target

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Beam Therapeutics during the second quarter valued at $308,796,000. ARCH Venture Management LLC acquired a new stake in Beam Therapeutics during the 2nd quarter worth approximately $155,771,929. Dimensional Fund Advisors LP increased its position in shares of Beam Therapeutics by 10.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,154,575 shares of the company's stock worth $51,327,000 after acquiring an additional 206,696 shares in the last quarter. ADAR1 Capital Management LLC purchased a new position in Beam Therapeutics in the first quarter valued at about $34,467,000. Finally, Bank of America Corp DE acquired a new position in Beam Therapeutics during the 2nd quarter worth approximately $24,733,000. 99.68% of the stock is currently owned by institutional investors and hedge funds.

Beam Therapeutics Trading Up 15.6%

The company has a debt-to-equity ratio of 0.09, a current ratio of 14.57 and a quick ratio of 14.57. The business's 50-day moving average price is $25.96 and its 200 day moving average price is $28.21. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of -33.46 and a beta of 2.20.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($1.18) EPS for the quarter, missing analysts' consensus estimates of ($1.11) by ($0.07). The firm had revenue of $0.49 million during the quarter, compared to analyst estimates of $16.37 million. Beam Therapeutics had a negative return on equity of 30.71% and a negative net margin of 54.75%. The firm's revenue for the quarter was down 94.2% on a year-over-year basis. During the same quarter last year, the business posted ($1.00) earnings per share. On average, equities analysts forecast that Beam Therapeutics Inc. will post -4.49 earnings per share for the current fiscal year.

Beam Therapeutics Company Profile

Beam Therapeutics Inc is a biotechnology company developing precision genetic medicines for patients with serious diseases. The company's platform uses base editing, a form of gene editing designed to make targeted changes to individual DNA letters without creating double-strand breaks. Beam is also advancing related editing technologies and delivery systems intended to improve the precision and effectiveness of genetic treatments.

Beam's pipeline includes investigational programs for diseases such as sickle cell disease, beta thalassemia, alpha-1 antitrypsin deficiency and glycogen storage disease type Ia.

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