Beam Therapeutics’ (BEAM) “Buy” Rating Reiterated at HC Wainwright

Beam Therapeutics (NASDAQ:BEAM)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $80.00 target price on the stock. HC Wainwright’s price target would indicate a potential upside of 423.90% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Jones Trading upgraded Beam Therapeutics from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Monday, March 10th. Cantor Fitzgerald restated an “overweight” rating on shares of Beam Therapeutics in a research report on Wednesday, March 12th. Sanford C. Bernstein raised shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Wedbush restated an “outperform” rating and issued a $57.00 target price on shares of Beam Therapeutics in a report on Monday, March 10th. Finally, Guggenheim reiterated a “buy” rating and set a $78.00 price target on shares of Beam Therapeutics in a report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Beam Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $49.45.

Beam Therapeutics Price Performance

Shares of BEAM opened at $15.27 on Monday. The firm’s 50 day moving average is $25.86 and its 200-day moving average is $25.61. Beam Therapeutics has a 12-month low of $14.50 and a 12-month high of $35.25. The stock has a market capitalization of $1.52 billion, a P/E ratio of -8.68 and a beta of 2.02.

Beam Therapeutics (NASDAQ:BEAM) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($1.09) EPS for the quarter, beating analysts’ consensus estimates of ($1.25) by $0.16. The company had revenue of $30.00 million during the quarter, compared to the consensus estimate of $16.47 million. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 41.07%. The company’s quarterly revenue was down 90.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.73 EPS. As a group, equities research analysts forecast that Beam Therapeutics will post -4.57 EPS for the current fiscal year.

Insider Transactions at Beam Therapeutics

In related news, CEO John M. Evans sold 30,000 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $26.75, for a total value of $802,500.00. Following the transaction, the chief executive officer now owns 908,659 shares in the company, valued at approximately $24,306,628.25. This represents a 3.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Giuseppe Ciaramella sold 7,434 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $18.35, for a total transaction of $136,413.90. Following the transaction, the president now directly owns 190,216 shares in the company, valued at approximately $3,490,463.60. The trade was a 3.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,771 shares of company stock valued at $1,605,698 in the last three months. Corporate insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Beam Therapeutics

A number of large investors have recently bought and sold shares of BEAM. Wealthfront Advisers LLC acquired a new stake in shares of Beam Therapeutics in the fourth quarter worth about $41,000. GF Fund Management CO. LTD. bought a new position in shares of Beam Therapeutics in the 4th quarter valued at approximately $43,000. Sterling Capital Management LLC raised its stake in shares of Beam Therapeutics by 816.0% in the 4th quarter. Sterling Capital Management LLC now owns 2,409 shares of the company’s stock valued at $60,000 after acquiring an additional 2,146 shares in the last quarter. KBC Group NV lifted its holdings in Beam Therapeutics by 103.2% in the 4th quarter. KBC Group NV now owns 4,143 shares of the company’s stock worth $103,000 after purchasing an additional 2,104 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Beam Therapeutics by 36.3% during the fourth quarter. Blue Trust Inc. now owns 4,274 shares of the company’s stock valued at $105,000 after purchasing an additional 1,139 shares during the last quarter. 99.68% of the stock is currently owned by institutional investors.

Beam Therapeutics Company Profile

Beam Therapeutics Inc, a biotechnology company, engages in the development of precision genetic medicines for patients suffering from serious diseases in the United States. It develops BEAM-101 for the treatment of sickle cell disease or beta-thalassemia; and BEAM-302, a liver-targeting LNP formulation to treat severe alpha-1 antitrypsin deficiency; BEAM-201, an anti-CD7 CAR-T product candidate, which is in Phase 1/2 clinical trials for the treatment of refractory T-cell acute lymphoblastic leukemia/T cell lymphoblastic lymphoma; and BEAM-301, a liver-targeting LNP formulation for the treatment of glycogen storage disease 1a.