Beam Therapeutics (NASDAQ:BEAM) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Beam Therapeutics (NASDAQ:BEAMFree Report) from a hold rating to a sell rating in a research note published on Sunday.

Other analysts have also issued research reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Beam Therapeutics in a research note on Wednesday, October 8th. UBS Group began coverage on Beam Therapeutics in a report on Wednesday, January 7th. They issued a “neutral” rating and a $28.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $80.00 target price on shares of Beam Therapeutics in a report on Friday, October 10th. Benchmark reiterated a “speculative buy” rating on shares of Beam Therapeutics in a research report on Monday, November 17th. Finally, Jefferies Financial Group began coverage on Beam Therapeutics in a research report on Thursday, October 9th. They issued a “buy” rating and a $41.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Beam Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $44.23.

Check Out Our Latest Analysis on Beam Therapeutics

Beam Therapeutics Stock Up 2.6%

Shares of NASDAQ:BEAM opened at $34.55 on Friday. Beam Therapeutics has a 52-week low of $13.52 and a 52-week high of $36.44. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of -7.80 and a beta of 2.07. The business has a 50-day moving average price of $25.84 and a 200-day moving average price of $23.06.

Beam Therapeutics (NASDAQ:BEAMGet Free Report) last issued its earnings results on Tuesday, November 4th. The company reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.12). Beam Therapeutics had a negative net margin of 744.41% and a negative return on equity of 42.86%. The firm had revenue of $9.70 million during the quarter, compared to analysts’ expectations of $12.83 million. During the same quarter in the prior year, the company earned ($1.17) EPS. Beam Therapeutics’s quarterly revenue was down 32.2% on a year-over-year basis. As a group, equities analysts anticipate that Beam Therapeutics will post -4.57 EPS for the current fiscal year.

Institutional Trading of Beam Therapeutics

Institutional investors have recently bought and sold shares of the business. Arizona State Retirement System raised its stake in shares of Beam Therapeutics by 2.2% during the 3rd quarter. Arizona State Retirement System now owns 26,771 shares of the company’s stock worth $650,000 after buying an additional 580 shares during the period. Van ECK Associates Corp increased its holdings in Beam Therapeutics by 48.7% in the 3rd quarter. Van ECK Associates Corp now owns 2,158 shares of the company’s stock worth $52,000 after acquiring an additional 707 shares in the last quarter. Profund Advisors LLC raised its position in Beam Therapeutics by 3.0% during the second quarter. Profund Advisors LLC now owns 26,183 shares of the company’s stock worth $445,000 after acquiring an additional 758 shares during the period. Benjamin Edwards Inc. lifted its holdings in Beam Therapeutics by 3.4% during the third quarter. Benjamin Edwards Inc. now owns 32,728 shares of the company’s stock valued at $794,000 after purchasing an additional 1,072 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Beam Therapeutics by 43.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,884 shares of the company’s stock valued at $66,000 after purchasing an additional 1,175 shares in the last quarter. 99.68% of the stock is owned by institutional investors and hedge funds.

Key Beam Therapeutics News

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

Beam Therapeutics Company Profile

(Get Free Report)

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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Analyst Recommendations for Beam Therapeutics (NASDAQ:BEAM)

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