Barclays Lowers Beam Therapeutics (NASDAQ:BEAM) Price Target to $25.00

Beam Therapeutics (NASDAQ:BEAM) had its price objective cut by Barclays from $31.00 to $25.00 in a report published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research firms have also recently weighed in on BEAM. Bank of America raised shares of Beam Therapeutics from a “neutral” rating to a “buy” rating and set a $42.00 price objective on the stock in a report on Friday, March 28th. Sanford C. Bernstein upgraded shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. HC Wainwright reiterated a “buy” rating and set a $80.00 price objective on shares of Beam Therapeutics in a research report on Monday, April 7th. Scotiabank upgraded Beam Therapeutics from a “sector perform” rating to a “sector outperform” rating and set a $40.00 target price on the stock in a research report on Monday, March 10th. Finally, Jones Trading upgraded Beam Therapeutics from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $48.75.

Beam Therapeutics Price Performance

BEAM opened at $17.42 on Wednesday. Beam Therapeutics has a 12-month low of $13.53 and a 12-month high of $35.25. The stock has a market capitalization of $1.75 billion, a PE ratio of -9.90 and a beta of 2.35. The firm’s fifty day moving average price is $20.07 and its 200 day moving average price is $24.32.

Beam Therapeutics (NASDAQ:BEAM) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.13). The firm had revenue of $7.47 million for the quarter, compared to analyst estimates of $14.69 million. Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The business’s revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the company posted ($1.21) earnings per share. On average, equities research analysts forecast that Beam Therapeutics will post -4.57 earnings per share for the current fiscal year.

Insider Transactions at Beam Therapeutics

In other Beam Therapeutics news, CEO John M. Evans sold 30,663 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $18.35, for a total transaction of $562,666.05. Following the completion of the sale, the chief executive officer now directly owns 986,249 shares of the company’s stock, valued at approximately $18,097,669.15. The trade was a 3.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Christine Bellon sold 5,674 shares of the 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 $104,117.90. Following the completion of the transaction, the insider now owns 117,294 shares in the company, valued at $2,152,344.90. This represents a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,771 shares of company stock worth $803,198. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wealthfront Advisers LLC acquired a new stake in Beam Therapeutics during the 4th quarter worth $41,000. GF Fund Management CO. LTD. acquired a new stake in shares of Beam Therapeutics during the fourth quarter worth about $43,000. CWM LLC lifted its holdings in shares of Beam Therapeutics by 79.8% during the 1st quarter. CWM LLC now owns 2,684 shares of the company’s stock valued at $52,000 after purchasing an additional 1,191 shares in the last quarter. Sterling Capital Management LLC grew its position 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 purchasing an additional 2,146 shares during the period. Finally, Amalgamated Bank increased its stake in Beam Therapeutics by 20.4% during the 1st quarter. Amalgamated Bank now owns 3,153 shares of the company’s stock worth $62,000 after purchasing an additional 534 shares in the last quarter. Institutional investors own 99.68% of the company’s stock.

About Beam Therapeutics

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.