Beam Therapeutics (NASDAQ:BEAM) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Beam Therapeutics (NASDAQ:BEAM) from a hold rating to a sell rating in a research report report published on Saturday morning.

Other equities analysts have also recently issued reports about the company. HC Wainwright reiterated a “buy” rating and set a $80.00 target price on shares of Beam Therapeutics in a research note on Tuesday, July 7th. Tudor Pickering set a $39.00 price target on shares of Beam Therapeutics in a research note on Wednesday, May 13th. Sanford C. Bernstein dropped their price target on shares of Beam Therapeutics from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Bank of America reaffirmed a “buy” rating and issued a $47.00 price target on shares of Beam Therapeutics in a report on Wednesday, July 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Beam Therapeutics in a research note on Friday, July 17th. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Beam Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

Beam Therapeutics Trading Up 0.8%

NASDAQ:BEAM opened at $27.48 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 16.99 and a current ratio of 14.57. Beam Therapeutics has a one year low of $15.60 and a one year high of $38.26. The business’s 50-day simple moving average is $30.61 and its 200 day simple moving average is $28.98. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of -31.95 and a beta of 2.23.

Beam Therapeutics (NASDAQ:BEAM) last issued 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). Beam Therapeutics had a negative net margin of 54.75% and a negative return on equity of 30.71%. The business had revenue of $0.49 million during the quarter, compared to analysts’ expectations of $16.37 million. During the same period in the prior year, the company posted ($1.00) EPS. The company’s revenue for the quarter was down 94.2% on a year-over-year basis. As a group, sell-side analysts predict that Beam Therapeutics will post -4.37 earnings per share for the current fiscal year.

Insider Transactions at Beam Therapeutics

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 completion of the transaction, the insider directly owned 85,696 shares in the company, valued at $2,205,815.04. The trade was a 16.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Fmr Llc sold 251,488 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $35.26, for a total value of $8,867,466.88. Following the transaction, the insider directly owned 854,583 shares of the company’s stock, valued at $30,132,596.58. This trade represents a 22.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 301,527 shares of company stock worth $10,468,500 in the last three months. 3.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Beam Therapeutics in the second quarter valued at $308,796,000. Deutsche Bank AG acquired a new position in shares of Beam Therapeutics during the second quarter valued at $3,572,000. Alphabet Inc. bought a new position in shares of Beam Therapeutics during the second quarter worth about $11,037,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Beam Therapeutics during the second quarter worth about $292,000. Finally, AMG National Trust Bank bought a new position in shares of Beam Therapeutics during the second quarter worth about $587,000. 99.68% of the stock is currently owned by institutional investors.

Beam Therapeutics Company Profile

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.