Beam Therapeutics' (BEAM) "Outperform" Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of Beam Therapeutics (NASDAQ:BEAM - Free Report) in a report issued on Monday morning,RTT News reports. Wedbush currently has a $57.00 price objective on the stock. Wedbush also issued estimates for Beam Therapeutics' Q1 2025 earnings at ($1.00) EPS, Q2 2025 earnings at ($0.97) EPS, Q3 2025 earnings at ($1.00) EPS, Q4 2025 earnings at ($1.05) EPS, FY2025 earnings at ($4.02) EPS, FY2026 earnings at ($4.89) EPS, FY2027 earnings at ($5.07) EPS, FY2028 earnings at ($4.02) EPS and FY2029 earnings at $0.57 EPS.

Other equities research analysts also recently issued research reports about the company. Sanford C. Bernstein upgraded Beam Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 7th. HC Wainwright reiterated a "buy" rating and issued a $80.00 price objective on shares of Beam Therapeutics in a report on Friday, February 28th. Cantor Fitzgerald upgraded Beam Therapeutics from a "neutral" rating to an "overweight" rating in a report on Wednesday, January 29th. Scotiabank upgraded Beam Therapeutics from a "sector perform" rating to a "sector outperform" rating and set a $40.00 price objective on the stock in a report on Monday. Finally, Guggenheim reiterated a "buy" rating and issued a $78.00 price objective on shares of Beam Therapeutics in a report on Thursday, February 27th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Beam Therapeutics presently has an average rating of "Buy" and an average target price of $50.82.

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Beam Therapeutics Price Performance

NASDAQ BEAM traded down $0.83 during trading hours on Monday, reaching $24.23. 2,166,679 shares of the stock traded hands, compared to its average volume of 1,208,356. The stock has a 50 day simple moving average of $27.09 and a two-hundred day simple moving average of $26.01. Beam Therapeutics has a 1 year low of $20.84 and a 1 year high of $36.75. The company has a market cap of $2.42 billion, a price-to-earnings ratio of -13.77 and a beta of 1.91.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($1.09) earnings per share for the quarter, beating analysts' consensus estimates of ($1.25) by $0.16. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 41.07%. The business had revenue of $30.00 million for the quarter, compared to the consensus estimate of $16.47 million. During the same quarter last year, the business posted $1.73 earnings per share. The company's revenue for the quarter was down 90.5% on a year-over-year basis. On average, sell-side analysts forecast that Beam Therapeutics will post -4.57 EPS for the current fiscal year.

Insider Buying and Selling

In other Beam Therapeutics news, insider Christine Bellon sold 1,241 shares of Beam Therapeutics stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value of $802,500.00. Following the sale, the chief executive officer now directly owns 908,659 shares in the company, valued at approximately $24,306,628.25. The trade was 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 owned by insiders.

Institutional Trading of Beam Therapeutics

Several large investors have recently bought and sold shares of the company. Wealthfront Advisers LLC purchased a new position in shares of Beam Therapeutics during the fourth quarter valued at approximately $41,000. GF Fund Management CO. LTD. purchased a new position in shares of Beam Therapeutics during the fourth quarter valued at approximately $43,000. Sterling Capital Management LLC lifted its holdings in shares of Beam Therapeutics by 816.0% during the fourth quarter. Sterling Capital Management LLC now owns 2,409 shares of the company's stock valued at $60,000 after purchasing an additional 2,146 shares during the last quarter. KBC Group NV lifted its holdings in shares of Beam Therapeutics by 103.2% during the fourth quarter. KBC Group NV now owns 4,143 shares of the company's stock valued at $103,000 after purchasing an additional 2,104 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Beam Therapeutics by 36.3% during the fourth quarter. Blue Trust Inc. now owns 4,274 shares of the company's stock valued at $105,000 after purchasing an additional 1,139 shares during the last quarter. 99.68% of the stock is 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.