Beam Therapeutics (BEAM) Set to Announce Quarterly Earnings on Tuesday

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) is scheduled to be posting its quarterly earnings results before the market opens on Tuesday, November 5th. Analysts expect Beam Therapeutics to post earnings of ($1.13) per share for the quarter. Investors that are interested in participating in the company's conference call can do so using this link.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported ($1.11) EPS for the quarter, topping analysts' consensus estimates of ($1.13) by $0.02. Beam Therapeutics had a negative net margin of 40.56% and a negative return on equity of 16.22%. The business had revenue of $11.80 million during the quarter, compared to the consensus estimate of $14.18 million. During the same quarter in the previous year, the firm posted ($1.08) EPS. The firm's revenue was down 41.3% on a year-over-year basis. On average, analysts expect Beam Therapeutics to post $-5 EPS for the current fiscal year and $-4 EPS for the next fiscal year.

Beam Therapeutics Trading Up 1.5 %

Shares of BEAM traded up $0.33 during trading hours on Wednesday, reaching $22.50. 849,768 shares of the stock traded hands, compared to its average volume of 1,225,527. The company has a market cap of $1.85 billion, a P/E ratio of -12.61 and a beta of 1.85. The company's 50-day moving average price is $24.52 and its two-hundred day moving average price is $24.68. Beam Therapeutics has a 52-week low of $18.85 and a 52-week high of $49.50.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

BEAM has been the subject of several research reports. HC Wainwright reaffirmed a "buy" rating and issued a $80.00 price target on shares of Beam Therapeutics in a research report on Thursday, August 22nd. Royal Bank of Canada reissued a "sector perform" rating and set a $27.00 target price on shares of Beam Therapeutics in a research note on Thursday, September 19th. Wedbush reissued an "outperform" rating and set a $57.00 target price on shares of Beam Therapeutics in a research note on Tuesday, August 6th. Scotiabank began coverage on shares of Beam Therapeutics in a research report on Wednesday, October 16th. They issued a "sector outperform" rating and a $24.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of Beam Therapeutics from $45.00 to $48.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $45.80.

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.