Beam Therapeutics’ (BEAM) Outperform Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of Beam Therapeutics (NASDAQ:BEAM) in a research report sent to investors on Tuesday, RTT News reports. The brokerage currently has a $57.00 target price on the stock. Wedbush also issued estimates for Beam Therapeutics’ Q4 2024 earnings at ($1.09) EPS, FY2024 earnings at ($4.62) EPS, Q1 2025 earnings at ($0.98) EPS, Q2 2025 earnings at ($1.00) EPS, Q3 2025 earnings at ($0.96) EPS, Q4 2025 earnings at ($0.96) EPS, FY2025 earnings at ($3.88) EPS, FY2026 earnings at ($4.30) EPS, FY2027 earnings at ($3.98) EPS and FY2028 earnings at ($1.94) EPS.

BEAM has been the topic of several other reports. Barclays dropped their target price on Beam Therapeutics from $42.00 to $33.00 and set an equal weight rating on the stock in a report on Wednesday, May 8th. HC Wainwright assumed coverage on shares of Beam Therapeutics in a research report on Tuesday, July 23rd. They set a buy rating and a $80.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $41.70.

Beam Therapeutics Trading Down 1.8 %

Shares of NASDAQ BEAM traded down $0.45 during trading on Tuesday, reaching $24.46. The company had a trading volume of 522,403 shares, compared to its average volume of 1,379,537. Beam Therapeutics has a twelve month low of $16.95 and a twelve month high of $49.50. The stock has a 50-day moving average price of $25.71 and a two-hundred day moving average price of $27.79. The stock has a market capitalization of $2.01 billion, a PE ratio of -13.74 and a beta of 1.87.

Beam Therapeutics (NASDAQ:BEAM) last issued its earnings results on Tuesday, August 6th. The company reported ($1.11) EPS for the quarter, beating analysts’ consensus estimates of ($1.13) by $0.02. Beam Therapeutics had a negative net margin of 37.33% and a negative return on equity of 15.46%. The business had revenue of $11.80 million for the quarter, compared to the consensus estimate of $14.18 million. During the same quarter last year, the firm posted ($1.08) EPS. The business’s revenue for the quarter was down 41.3% compared to the same quarter last year. On average, sell-side analysts predict that Beam Therapeutics will post -4.68 EPS for the current year.

Insider Buying and Selling at Beam Therapeutics

In other news, CEO John M. Evans sold 60,000 shares of Beam Therapeutics stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $24.50, for a total value of $1,470,000.00. Following the completion of the transaction, the chief executive officer now owns 998,343 shares in the company, valued at approximately $24,459,403.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Riverview Trust Co acquired a new stake in Beam Therapeutics during the first quarter worth about $26,000. Fairfield Financial Advisors LTD acquired a new position in Beam Therapeutics during the 2nd quarter valued at approximately $26,000. First Horizon Advisors Inc. boosted its position in Beam Therapeutics by 125.9% during the 4th quarter. First Horizon Advisors Inc. now owns 994 shares of the company’s stock valued at $27,000 after purchasing an additional 554 shares during the period. Blue Trust Inc. increased its position in Beam Therapeutics by 2,648.4% in the second quarter. Blue Trust Inc. now owns 1,704 shares of the company’s stock worth $40,000 after buying an additional 1,642 shares during the period. Finally, National Bank of Canada FI increased its position in Beam Therapeutics by 200.0% in the fourth quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock worth $41,000 after buying an additional 1,000 shares during the period. 99.68% of the stock is owned by institutional investors and hedge funds.

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.