Beam Therapeutics (BEAM) to Release Earnings on Tuesday

Beam Therapeutics (NASDAQ:BEAM) is expected to issue its quarterly earnings data before the market opens on Tuesday, February 25th. Analysts expect the company to announce earnings of ($1.25) per share and revenue of $16.47 million for the quarter.

Beam Therapeutics Stock Down 8.2 %

BEAM opened at $30.43 on Monday. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of -17.29 and a beta of 1.92. Beam Therapeutics has a twelve month low of $20.84 and a twelve month high of $49.50. The company’s 50-day moving average price is $27.13 and its two-hundred day moving average price is $25.81.

Analysts Set New Price Targets

A number of brokerages recently commented on BEAM. Sanford C. Bernstein upgraded shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Beam Therapeutics in a research note on Monday, February 3rd. Leerink Partners upgraded 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 research note on Wednesday, November 6th. Cantor Fitzgerald upgraded shares of Beam Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada lowered their target price on shares of Beam Therapeutics from $27.00 to $24.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Beam Therapeutics currently has an average rating of “Buy” and an average price target of $47.67.

Insider Transactions at Beam Therapeutics

In other 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 value of $30,627.88. Following the transaction, the insider now owns 102,968 shares of the company’s stock, valued at $2,541,250.24. This represents a 1.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John M. Evans sold 30,000 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 908,659 shares in the company, valued at $24,306,628.25. The trade was a 3.20 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.

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.