Cantor Fitzgerald Brokers Raise Earnings Estimates for BEAM

Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) - Investment analysts at Cantor Fitzgerald boosted their FY2025 earnings estimates for Beam Therapeutics in a research note issued on Wednesday, March 12th. Cantor Fitzgerald analyst R. Bienkowski now anticipates that the company will post earnings per share of ($3.27) for the year, up from their prior estimate of ($3.55). Cantor Fitzgerald has a "Overweight" rating on the stock. The consensus estimate for Beam Therapeutics' current full-year earnings is ($4.57) per share.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($1.09) EPS for the quarter, beating analysts' consensus estimates of ($1.25) by $0.16. Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The company had revenue of $30.00 million during the quarter, compared to the consensus estimate of $16.47 million. During the same quarter last year, the firm posted $1.73 EPS. The company's quarterly revenue was down 90.5% on a year-over-year basis.

Several other analysts also recently commented on the stock. Sanford C. Bernstein raised shares of Beam Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 7th. Royal Bank of Canada lifted their price objective on shares of Beam Therapeutics from $24.00 to $26.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 26th. Scotiabank upgraded shares of Beam Therapeutics from a "sector perform" rating to a "sector outperform" rating and set a $40.00 price objective for the company in a research note on Monday, March 10th. HC Wainwright reiterated a "buy" rating and issued a $80.00 price objective on shares of Beam Therapeutics in a research note on Monday, March 10th. Finally, Jones Trading upgraded shares of Beam Therapeutics from a "hold" rating to a "buy" rating and set a $34.00 price objective for the company in a research note on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Beam Therapeutics currently has an average rating of "Buy" and an average price target of $50.82.

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Beam Therapeutics Stock Performance

Shares of BEAM stock traded down $1.93 during midday trading on Friday, hitting $22.59. 1,931,702 shares of the company were exchanged, compared to its average volume of 1,206,570. The firm has a market capitalization of $2.25 billion, a P/E ratio of -12.84 and a beta of 1.91. The firm's 50 day moving average price is $27.05 and its two-hundred day moving average price is $26.00. Beam Therapeutics has a 52 week low of $20.84 and a 52 week high of $36.75.

Institutional Investors Weigh In On Beam Therapeutics

A number of institutional investors have recently added to or reduced their stakes in BEAM. Wealthfront Advisers LLC bought a new stake in Beam Therapeutics during the 4th quarter worth approximately $41,000. GF Fund Management CO. LTD. bought a new stake in Beam Therapeutics during the 4th quarter worth approximately $43,000. Sterling Capital Management LLC grew its holdings in Beam Therapeutics by 816.0% during the 4th quarter. Sterling Capital Management LLC now owns 2,409 shares of the company's stock worth $60,000 after acquiring an additional 2,146 shares during the last quarter. KBC Group NV grew its holdings in Beam Therapeutics by 103.2% during the 4th quarter. KBC Group NV now owns 4,143 shares of the company's stock worth $103,000 after acquiring an additional 2,104 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Beam Therapeutics by 36.3% during the 4th quarter. Blue Trust Inc. now owns 4,274 shares of the company's stock worth $105,000 after acquiring an additional 1,139 shares during the last quarter. 99.68% of the stock is owned by institutional investors.

Insider Activity at Beam Therapeutics

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

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.