What is William Blair’s Forecast for BEAM FY2024 Earnings?

Beam Therapeutics Inc. (NASDAQ:BEAM) – Equities research analysts at William Blair reduced their FY2024 earnings estimates for shares of Beam Therapeutics in a report released on Tuesday, November 5th. William Blair analyst S. Corwin now forecasts that the company will post earnings of ($4.56) per share for the year, down from their previous forecast of ($4.19). The consensus estimate for Beam Therapeutics’ current full-year earnings is ($4.60) per share. William Blair also issued estimates for Beam Therapeutics’ Q4 2024 earnings at ($1.07) EPS, Q1 2025 earnings at ($1.09) EPS, Q2 2025 earnings at ($1.03) EPS, Q3 2025 earnings at ($0.96) EPS, Q4 2025 earnings at ($0.96) EPS and FY2025 earnings at ($4.04) EPS.

Beam Therapeutics (NASDAQ:BEAM) last released its earnings results on Tuesday, November 5th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.16) by ($0.01). Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 40.56%. The company had revenue of $14.30 million for the quarter, compared to the consensus estimate of $14.52 million. During the same quarter in the previous year, the company posted ($1.22) EPS. The business’s revenue was down 16.9% on a year-over-year basis.

Other equities analysts also recently issued reports about the stock. 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 report on Wednesday. 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 objective for the company. Leerink Partners raised shares of Beam Therapeutics from a “market perform” rating to an “outperform” rating and upped their target price for the company from $27.00 to $39.00 in a report on Wednesday. Leerink Partnrs upgraded Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Finally, Barclays lowered their price target on Beam Therapeutics from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Beam Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $44.91.

Beam Therapeutics Stock Down 2.0 %

NASDAQ:BEAM opened at $26.10 on Thursday. Beam Therapeutics has a twelve month low of $18.85 and a twelve month high of $49.50. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of -14.42 and a beta of 1.86. The stock’s 50 day moving average price is $24.22 and its two-hundred day moving average price is $24.65.

Hedge Funds Weigh In On Beam Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BEAM. Fairfield Financial Advisors LTD bought a new position in shares of Beam Therapeutics in the second quarter worth $26,000. Blue Trust Inc. increased its holdings in Beam Therapeutics by 2,648.4% in the 2nd quarter. Blue Trust Inc. now owns 1,704 shares of the company’s stock valued at $40,000 after buying an additional 1,642 shares during the period. National Bank of Canada FI raised its position in shares of Beam Therapeutics by 200.0% in the 2nd quarter. National Bank of Canada FI now owns 3,000 shares of the company’s stock valued at $69,000 after buying an additional 2,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Beam Therapeutics by 21.3% during the 3rd 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. Finally, Quarry LP boosted its position in shares of Beam Therapeutics by 350.0% during the 2nd quarter. Quarry LP now owns 3,600 shares of the company’s stock worth $84,000 after acquiring an additional 2,800 shares in the last quarter. 99.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Beam Therapeutics news, CEO John M. Evans sold 60,000 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $24.60, for a total value of $1,476,000.00. Following the transaction, the chief executive officer now directly owns 938,659 shares of the company’s stock, valued at $23,091,011.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, President Giuseppe Ciaramella sold 51,110 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $26.27, for a total transaction of $1,342,659.70. Following the transaction, the president now directly owns 160,260 shares of the company’s stock, valued at approximately $4,210,030.20. 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 can be accessed through this hyperlink. Also, CEO John M. Evans sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $24.60, for a total value of $1,476,000.00. Following the completion of the sale, the chief executive officer now owns 938,659 shares of the company’s stock, valued at approximately $23,091,011.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,784 shares of company stock valued at $2,834,485. Insiders own 4.20% of the company’s stock.

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.