FY2025 EPS Estimates for BEAM Lowered by Cantor Fitzgerald

Beam Therapeutics Inc. (NASDAQ:BEAM) – Research analysts at Cantor Fitzgerald dropped their FY2025 earnings estimates for shares of Beam Therapeutics in a research report issued on Wednesday, February 26th. Cantor Fitzgerald analyst R. Bienkowski now anticipates that the company will post earnings of ($3.55) per share for the year, down from their prior estimate of ($3.34). Cantor Fitzgerald currently has a “Overweight” rating on the stock. The consensus estimate for Beam Therapeutics’ current full-year earnings is ($4.57) per share.

A number of other brokerages also recently issued reports on BEAM. Royal Bank of Canada boosted their price target on shares of Beam Therapeutics from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $80.00 price objective on shares of Beam Therapeutics in a research note on Friday. Leerink Partnrs upgraded shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Leerink Partners upgraded shares of Beam Therapeutics from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $27.00 to $39.00 in a research note on Wednesday, November 6th. Finally, Wedbush reiterated an “outperform” rating and issued a $57.00 price objective on shares of Beam Therapeutics in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Beam Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $50.90.

Beam Therapeutics Stock Performance

Shares of NASDAQ BEAM opened at $26.34 on Friday. The company has a market capitalization of $2.20 billion, a P/E ratio of -14.97 and a beta of 1.92. Beam Therapeutics has a 52-week low of $20.84 and a 52-week high of $45.05. The company’s 50 day moving average price is $27.18 and its 200-day moving average price is $25.93.

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

Hedge Funds Weigh In On Beam Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Beam Therapeutics in the 4th quarter worth about $330,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Beam Therapeutics by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 629,492 shares of the company’s stock worth $15,423,000 after buying an additional 36,226 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Beam Therapeutics by 11.4% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,957,611 shares of the company’s stock worth $98,149,000 after buying an additional 404,782 shares during the last quarter. Bellevue Group AG lifted its holdings in Beam Therapeutics by 7.1% during the third quarter. Bellevue Group AG now owns 1,518,121 shares of the company’s stock valued at $37,194,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Beam Therapeutics by 4.5% during the third quarter. Geode Capital Management LLC now owns 1,807,683 shares of the company’s stock valued at $44,297,000 after purchasing an additional 78,102 shares during the last quarter. 99.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Beam Therapeutics

In other Beam Therapeutics news, 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 transaction, the chief executive officer now directly owns 908,659 shares of the company’s stock, valued at $24,306,628.25. The trade was a 3.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christine Bellon sold 1,241 shares of Beam Therapeutics stock in a transaction 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 transaction, the insider now directly owns 102,968 shares in the company, valued at $2,541,250.24. This represents a 1.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by company insiders.

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.