Cantor Fitzgerald Analysts Lower Earnings Estimates for BEAM

Beam Therapeutics Inc. (NASDAQ:BEAM) – Research analysts at Cantor Fitzgerald lowered their FY2025 EPS estimates for Beam Therapeutics in a report released on Wednesday, February 26th. Cantor Fitzgerald analyst R. Bienkowski now expects that the company will post earnings per share of ($3.55) for the year, down from their previous 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.

Other analysts have also recently issued research reports about the stock. Leerink Partnrs raised shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 6th. Leerink Partners raised shares of Beam Therapeutics from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $27.00 to $39.00 in a report on Wednesday, November 6th. Sanford C. Bernstein raised shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. HC Wainwright reissued a “buy” rating and set a $80.00 price objective on shares of Beam Therapeutics in a report on Friday. Finally, Guggenheim reissued a “buy” rating and set a $78.00 price objective on shares of Beam Therapeutics in a report on Thursday. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Beam Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $50.90.

Beam Therapeutics Stock Down 2.8 %

Shares of NASDAQ:BEAM opened at $26.34 on Friday. Beam Therapeutics has a fifty-two week low of $20.84 and a fifty-two week high of $45.05. The firm’s 50 day moving average price is $27.23 and its 200 day moving average price is $25.92. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -14.97 and a beta of 1.92.

Beam Therapeutics (NASDAQ:BEAM) last issued its earnings results on Tuesday, February 25th. The company reported ($1.09) earnings per share for the quarter, beating the consensus estimate of ($1.25) by $0.16. The firm had revenue of $30.00 million for the quarter, compared to analysts’ expectations of $16.47 million. Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The firm’s revenue was down 90.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.73 earnings per share.

Insider Buying and Selling

In related news, insider Christine Bellon sold 1,241 shares of the stock in a transaction 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 completion of the sale, the insider now owns 102,968 shares in the company, valued at $2,541,250.24. This represents a 1.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John M. Evans sold 30,000 shares of Beam Therapeutics stock in a transaction 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 completion of the transaction, the chief executive officer now owns 908,659 shares in the company, 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. 4.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Beam Therapeutics

Several institutional investors have recently bought and sold shares of BEAM. Creative Planning increased its stake in Beam Therapeutics by 25.5% in the 3rd quarter. Creative Planning now owns 11,946 shares of the company’s stock valued at $293,000 after buying an additional 2,424 shares during the period. Blue Trust Inc. grew its holdings in Beam Therapeutics by 84.0% during the third quarter. Blue Trust Inc. now owns 3,135 shares of the company’s stock worth $73,000 after acquiring an additional 1,431 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Beam Therapeutics by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,981 shares of the company’s stock worth $75,000 after acquiring an additional 524 shares during the period. China Universal Asset Management Co. Ltd. raised its position in Beam Therapeutics by 62.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 16,087 shares of the company’s stock worth $394,000 after acquiring an additional 6,181 shares in the last quarter. Finally, Arcadia Investment Management Corp MI purchased a new position in Beam Therapeutics in the third quarter worth $98,000. 99.68% of the stock is owned by institutional investors and hedge funds.

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.