Beam Therapeutics (BEAM) to Release Quarterly Earnings on Tuesday

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) will likely be issuing its quarterly earnings data before the market opens on Tuesday, February 25th. Analysts expect the company to announce earnings of ($1.25) per share and revenue of $16.47 million for the quarter.

Beam Therapeutics Trading Down 8.2 %

NASDAQ:BEAM traded down $2.71 during midday trading on Friday, hitting $30.43. 1,883,564 shares of the company traded hands, compared to its average volume of 1,259,658. The firm has a market capitalization of $2.52 billion, a P/E ratio of -17.29 and a beta of 1.92. The firm's fifty day moving average is $27.08 and its 200-day moving average is $25.77. Beam Therapeutics has a 12-month low of $20.84 and a 12-month high of $49.50.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BEAM shares. Wedbush restated an "outperform" rating and issued a $57.00 target price on shares of Beam Therapeutics in a report on Monday, January 13th. Royal Bank of Canada reduced their price objective on shares of Beam Therapeutics from $27.00 to $24.00 and set a "sector perform" rating on the stock in a research report on Wednesday, November 6th. Cantor Fitzgerald upgraded Beam Therapeutics from a "neutral" rating to an "overweight" rating in a research report on Wednesday, January 29th. Leerink Partners raised Beam Therapeutics from a "market perform" rating to an "outperform" rating and upped their target price for the company from $27.00 to $39.00 in a research note on Wednesday, November 6th. Finally, Sanford C. Bernstein raised Beam Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Beam Therapeutics currently has an average rating of "Buy" and an average target price of $47.67.

Insiders Place Their Bets

In other Beam Therapeutics news, CEO John M. Evans sold 30,000 shares of the firm's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $26.75, for a total transaction of $802,500.00. Following the transaction, the chief executive officer now owns 908,659 shares of the company's stock, valued at approximately $24,306,628.25. This trade represents a 3.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christine Bellon sold 1,241 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $24.68, for a total transaction of $30,627.88. Following the completion of the sale, the insider now owns 102,968 shares of the company's stock, valued at approximately $2,541,250.24. This represents a 1.19 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.20% 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.