Beam Therapeutics (NASDAQ:BEAM) Given Outperform Rating at Wedbush

Wedbush restated their outperform rating on shares of Beam Therapeutics (NASDAQ:BEAM) in a report published on Tuesday, 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 ($1.09) 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.

Several other research analysts also recently commented on the stock. HC Wainwright initiated coverage on shares of Beam Therapeutics in a research note on Tuesday, July 23rd. They issued a buy rating and a $80.00 price target on the stock. Barclays dropped their target price on shares of Beam Therapeutics from $42.00 to $33.00 and set an equal weight rating on the stock in a research note on Wednesday, May 8th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Beam Therapeutics currently has a consensus rating of Hold and a consensus price target of $41.70.

Beam Therapeutics Stock Performance

NASDAQ BEAM traded down $0.45 during trading on Tuesday, hitting $24.46. The stock had a trading volume of 522,403 shares, compared to its average volume of 1,379,537. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -13.74 and a beta of 1.87. The stock has a 50 day simple moving average of $25.71 and a 200 day simple moving average of $27.79. Beam Therapeutics has a one year low of $16.95 and a one year high of $49.50.

Beam Therapeutics (NASDAQ:BEAM) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($1.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.13) by $0.02. Beam Therapeutics had a negative return on equity of 15.46% and a negative net margin of 37.33%. The company had revenue of $11.80 million during the quarter, compared to analysts’ expectations of $14.18 million. During the same quarter in the previous year, the business earned ($1.08) EPS. Beam Therapeutics’s revenue 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.

Insiders Place Their Bets

In other news, CEO John M. Evans sold 60,000 shares of Beam Therapeutics stock in a transaction 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 transaction, the chief executive officer now directly owns 998,343 shares in the company, valued at approximately $24,459,403.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.20% of the stock is owned by company insiders.

Institutional Trading of Beam Therapeutics

A number of institutional investors have recently modified their holdings of the company. Riverview Trust Co purchased a new position in Beam Therapeutics in the first quarter worth $26,000. Fairfield Financial Advisors LTD purchased a new stake in Beam Therapeutics in the second quarter valued at about $26,000. First Horizon Advisors Inc. boosted its holdings in Beam Therapeutics by 125.9% in the fourth quarter. First Horizon Advisors Inc. now owns 994 shares of the company’s stock worth $27,000 after acquiring an additional 554 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Beam Therapeutics by 2,648.4% during the second quarter. Blue Trust Inc. now owns 1,704 shares of the company’s stock worth $40,000 after acquiring an additional 1,642 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Beam Therapeutics by 200.0% during the fourth quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock valued at $41,000 after acquiring an additional 1,000 shares in 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.