Beam Therapeutics’ (BEAM) “Outperform” Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Beam Therapeutics (NASDAQ:BEAM) in a report issued on Tuesday morning,RTT News reports. They currently have a $57.00 target price on the stock. Wedbush also issued estimates for Beam Therapeutics’ Q4 2024 earnings at ($1.21) EPS, FY2024 earnings at ($4.69) EPS, Q1 2025 earnings at ($1.16) EPS, Q2 2025 earnings at ($1.19) EPS, Q3 2025 earnings at ($1.09) EPS, Q4 2025 earnings at ($1.07) EPS, FY2025 earnings at ($4.50) EPS, FY2026 earnings at ($4.73) EPS, FY2027 earnings at ($4.24) EPS and FY2028 earnings at ($1.93) EPS.

Other analysts have also recently issued research reports about the stock. HC Wainwright restated a “buy” rating and set a $80.00 price objective on shares of Beam Therapeutics in a research report on Thursday, August 22nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $27.00 price objective on shares of Beam Therapeutics in a research report on Thursday, September 19th. Scotiabank initiated coverage on Beam Therapeutics in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $24.00 target price for the company. Barclays cut their price objective on shares of Beam Therapeutics from $33.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. increased their target price on shares of Beam Therapeutics from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.91.

Beam Therapeutics Stock Performance

NASDAQ:BEAM opened at $26.10 on Tuesday. Beam Therapeutics has a 52-week low of $18.85 and a 52-week high of $49.50. The stock has a fifty day moving average of $24.22 and a 200 day moving average of $24.65. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of -14.42 and a beta of 1.86.

Beam Therapeutics (NASDAQ:BEAM) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($1.17) EPS for the quarter, missing the consensus estimate of ($1.16) by ($0.01). Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 40.56%. The business had revenue of $14.30 million for the quarter, compared to analysts’ expectations of $14.52 million. During the same period in the previous year, the firm posted ($1.22) EPS. The firm’s revenue for the quarter was down 16.9% compared to the same quarter last year. Equities analysts forecast that Beam Therapeutics will post -4.6 earnings per share for the current fiscal year.

Insider Activity at Beam Therapeutics

In other news, CEO John M. Evans sold 60,000 shares of Beam Therapeutics stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $24.60, for a total value of $1,476,000.00. Following the sale, the chief executive officer now directly owns 938,659 shares in the company, valued at approximately $23,091,011.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, President Giuseppe Ciaramella sold 51,110 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $26.27, for a total value of $1,342,659.70. Following the completion of the transaction, the president now directly owns 160,260 shares of the company’s stock, valued at $4,210,030.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John M. Evans sold 60,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $24.60, for a total transaction of $1,476,000.00. Following the completion of the sale, the chief executive officer now owns 938,659 shares of the company’s stock, valued at $23,091,011.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,784 shares of company stock worth $2,834,485 in the last 90 days. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Fairfield Financial Advisors LTD purchased a new stake in Beam Therapeutics in the second quarter worth $26,000. Blue Trust Inc. boosted its holdings in shares of Beam Therapeutics by 2,648.4% during the 2nd quarter. Blue Trust Inc. now owns 1,704 shares of the company’s stock valued at $40,000 after buying an additional 1,642 shares in the last quarter. National Bank of Canada FI grew its position in shares of Beam Therapeutics by 200.0% in the 2nd quarter. National Bank of Canada FI now owns 3,000 shares of the company’s stock worth $69,000 after buying an additional 2,000 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Beam Therapeutics by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,981 shares of the company’s stock worth $75,000 after acquiring an additional 524 shares in the last quarter. Finally, Quarry LP lifted its position in Beam Therapeutics by 350.0% during the 2nd quarter. Quarry LP now owns 3,600 shares of the company’s stock valued at $84,000 after acquiring an additional 2,800 shares during the period. Hedge funds and other institutional investors own 99.68% of the company’s stock.

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.