Beam Therapeutics Inc. (NASDAQ:BEAM) Stock Has Consensus Target Price of $49.00

Beam Therapeutics Inc. (NASDAQ:BEAM) has been assigned an average recommendation of “Moderate Buy” from the twelve analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $50.10.

Several research analysts recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $80.00 price target on shares of Beam Therapeutics in a report on Tuesday, August 25th. Wedbush reiterated an “outperform” rating and set a $65.00 price objective on shares of Beam Therapeutics in a research note on Wednesday, September 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Beam Therapeutics in a research note on Friday, July 17th. Wall Street Zen raised shares of Beam Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 3rd. Finally, Bank of America reissued a “buy” rating and issued a $47.00 price objective on shares of Beam Therapeutics in a research report on Wednesday, July 8th.

Beam Therapeutics Stock Performance

Beam Therapeutics stock opened at $25.70 on Tuesday. The company has a market cap of $2.65 billion, a price-to-earnings ratio of -29.88 and a beta of 2.20. Beam Therapeutics has a 12 month low of $20.23 and a 12 month high of $38.26. 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 stock’s 50-day moving average is $26.60 and its 200-day moving average is $28.55.

Beam Therapeutics (NASDAQ:BEAM) last issued its earnings results on Tuesday, August 4th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.07). The firm had revenue of $0.49 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.00) EPS. Equities analysts anticipate that Beam Therapeutics will post -4.49 earnings per share for the current year.

Insider Buying and Selling at Beam Therapeutics

In related news, insider Amy Simon sold 16,667 shares of the company’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $25.74, for a total transaction of $429,008.58. Following the completion of the sale, the insider directly owned 85,696 shares of the company’s stock, valued at approximately $2,205,815.04. This represents a 16.28% decrease in their position. 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.

Institutional Trading of Beam Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of Beam Therapeutics during the second quarter worth about $308,796,000. ARCH Venture Management LLC purchased a new stake in shares of Beam Therapeutics in the second quarter worth about $155,771,929. Dimensional Fund Advisors LP boosted 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 buying an additional 206,696 shares during the period. ADAR1 Capital Management LLC acquired a new stake in shares of Beam Therapeutics in the first quarter valued at about $34,467,000. Finally, MWG Caph Ltd acquired a new stake in shares of Beam Therapeutics in the fourth quarter valued at about $35,119,000. 99.68% of the stock is currently owned by institutional investors and hedge funds.

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.