Beam Therapeutics (NASDAQ:BEAM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Beam Therapeutics (NASDAQ:BEAM) from a strong sell rating to a sell rating in a research note published on Saturday morning,Wall Street Zen reports.

Several other research firms have also recently issued reports on BEAM. Bank of America reaffirmed a “buy” rating and set a $47.00 price objective on shares of Beam Therapeutics in a research report on Wednesday, July 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Beam Therapeutics in a research report on Friday, July 17th. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 target price on shares of Beam Therapeutics in a research report on Tuesday, August 25th. William Blair upgraded shares of Beam Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 23rd. Finally, Wedbush reiterated an “outperform” rating and set a $65.00 target price on shares of Beam Therapeutics in a research report on Wednesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $49.00.

Beam Therapeutics Price Performance

BEAM stock opened at $25.67 on Friday. Beam Therapeutics has a 1 year low of $20.23 and a 1 year high of $38.26. The firm has a market capitalization of $2.65 billion, a P/E ratio of -29.85 and a beta of 2.20. 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 is $26.68 and its two-hundred day moving average is $28.58.

Beam Therapeutics (NASDAQ:BEAM) last issued its earnings results on Tuesday, August 4th. The company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($1.11) by ($0.07). Beam Therapeutics had a negative net margin of 54.75% and a negative return on equity of 30.71%. The firm had revenue of $0.49 million during the quarter, compared to analyst estimates of $16.37 million. During the same period last year, the business earned ($1.00) EPS. The firm’s revenue was down 94.2% compared to the same quarter last year. Analysts anticipate that Beam Therapeutics will post -4.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Beam Therapeutics news, insider Amy Simon sold 16,667 shares of Beam Therapeutics stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $25.74, for a total value of $429,008.58. Following the sale, the insider owned 85,696 shares of the company’s stock, valued at approximately $2,205,815.04. The trade was a 16.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Beam Therapeutics during the 2nd quarter worth $308,796,000. ARCH Venture Management LLC acquired a new position in Beam Therapeutics during the second quarter worth about $155,771,929. Dimensional Fund Advisors LP increased its holdings in Beam Therapeutics by 10.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,154,575 shares of the company’s stock valued at $51,327,000 after buying an additional 206,696 shares in the last quarter. MWG Caph Ltd purchased a new position in Beam Therapeutics in the fourth quarter valued at about $35,119,000. Finally, ADAR1 Capital Management LLC acquired a new stake in shares of Beam Therapeutics during the 1st quarter valued at approximately $34,467,000. Hedge funds and other institutional investors own 99.68% of the company’s stock.

About Beam Therapeutics

Beam Therapeutics Inc is a biotechnology company developing precision genetic medicines using base editing, a technology designed to make targeted changes to DNA without cutting both strands of the DNA double helix. The company’s platform is intended to address diseases caused by specific genetic mutations and to support the development of potentially durable treatments.

Beam’s research and development activities focus on areas including hematology, liver diseases and genetic disorders.