Cantor Fitzgerald Has Weak Forecast for BEAM FY2025 Earnings

Beam Therapeutics Inc. (NASDAQ:BEAM - Free Report) - Equities research analysts at Cantor Fitzgerald cut their FY2025 earnings per share estimates for shares of Beam Therapeutics in a report released on Wednesday, February 26th. Cantor Fitzgerald analyst R. Bienkowski now anticipates that the company will earn ($3.55) per share for the year, down from their prior forecast of ($3.34). 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 posted its quarterly earnings data on Tuesday, February 25th. The company reported ($1.09) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $30.00 million during the quarter, compared to analysts' expectations of $16.47 million. During the same period last year, the firm posted $1.73 earnings per share. The business's revenue was down 90.5% on a year-over-year basis.

A number of other equities research analysts also recently weighed in on the stock. Leerink Partners raised shares of Beam Therapeutics from a "market perform" rating to an "outperform" rating and upped their price target for the company from $27.00 to $39.00 in a report on Wednesday, November 6th. HC Wainwright reaffirmed a "buy" rating and issued a $80.00 price target on shares of Beam Therapeutics in a report on Friday. Sanford C. Bernstein upgraded Beam Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 7th. Scotiabank increased their price target on Beam Therapeutics from $24.00 to $25.00 and gave the company a "sector perform" rating in a research report on Monday. Finally, Guggenheim restated a "buy" rating and set a $78.00 price target on shares of Beam Therapeutics in a report on Thursday, February 27th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $51.00.

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Beam Therapeutics Price Performance

Shares of BEAM traded up $1.34 during midday trading on Friday, reaching $26.44. The stock had a trading volume of 2,292,771 shares, compared to its average volume of 1,150,945. The company has a market capitalization of $2.21 billion, a P/E ratio of -15.02 and a beta of 1.92. The firm's 50 day moving average price is $27.10 and its 200-day moving average price is $25.96. Beam Therapeutics has a 52 week low of $20.84 and a 52 week high of $40.65.

Insiders Place Their Bets

In related news, insider Christine Bellon sold 1,241 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $24.68, for a total value of $30,627.88. Following the transaction, the insider now owns 102,968 shares in the company, valued at $2,541,250.24. This trade represents a 1.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John M. Evans sold 30,000 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The stock was 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 of the company's stock, valued at approximately $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. Insiders own 4.20% of the company's stock.

Institutional Trading of Beam Therapeutics

A number of hedge funds have recently modified their holdings of the company. Wealthfront Advisers LLC acquired a new position in shares of Beam Therapeutics in the 4th quarter valued at $41,000. GF Fund Management CO. LTD. acquired a new stake in Beam Therapeutics during the 4th quarter worth approximately $43,000. Sterling Capital Management LLC lifted its stake in Beam Therapeutics by 816.0% in the fourth quarter. Sterling Capital Management LLC now owns 2,409 shares of the company's stock valued at $60,000 after buying an additional 2,146 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Beam Therapeutics by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,981 shares of the company's stock valued at $75,000 after buying an additional 524 shares during the period. Finally, Blue Trust Inc. lifted its position in Beam Therapeutics by 84.0% in the 3rd quarter. Blue Trust Inc. now owns 3,135 shares of the company's stock valued at $73,000 after acquiring an additional 1,431 shares in the last quarter. 99.68% of the stock is currently owned by institutional investors and hedge funds.

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.