Cantor Fitzgerald Issues Negative Estimate for BEAM Earnings

Beam Therapeutics Inc. (NASDAQ:BEAM) – Research analysts at Cantor Fitzgerald decreased their FY2025 EPS estimates for shares of Beam Therapeutics in a research note issued on Wednesday, May 7th. Cantor Fitzgerald analyst R. Bienkowski now anticipates that the company will earn ($3.48) per share for the year, down from their previous estimate of ($3.27). 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.

Several other brokerages also recently weighed in on BEAM. Wedbush reaffirmed an “outperform” rating and set a $57.00 target price on shares of Beam Therapeutics in a research note on Monday, March 10th. Guggenheim reduced their price objective on Beam Therapeutics from $78.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday. HC Wainwright reissued a “buy” rating and set a $80.00 target price on shares of Beam Therapeutics in a research note on Monday, April 7th. Wells Fargo & Company reduced their price target on Beam Therapeutics from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Scotiabank raised Beam Therapeutics from a “sector perform” rating to a “sector outperform” rating and set a $40.00 price objective for the company in a research report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Beam Therapeutics has a consensus rating of “Buy” and an average target price of $48.75.

Beam Therapeutics Price Performance

NASDAQ BEAM opened at $17.42 on Friday. The company has a market cap of $1.75 billion, a P/E ratio of -9.90 and a beta of 2.35. The stock has a 50-day moving average of $20.07 and a two-hundred day moving average of $24.32. Beam Therapeutics has a 1-year low of $13.53 and a 1-year high of $35.25.

Beam Therapeutics (NASDAQ:BEAM) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.13). Beam Therapeutics had a negative net margin of 41.07% and a negative return on equity of 16.22%. The firm had revenue of $7.47 million during the quarter, compared to analyst estimates of $14.69 million. During the same period in the previous year, the firm posted ($1.21) earnings per share. The company’s quarterly revenue was up 1.4% compared to the same quarter last year.

Insider Activity at Beam Therapeutics

In other Beam Therapeutics news, President Giuseppe Ciaramella sold 7,434 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $18.35, for a total transaction of $136,413.90. Following the completion of the sale, the president now directly owns 190,216 shares of the company’s stock, valued at approximately $3,490,463.60. This trade represents a 3.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christine Bellon sold 5,674 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $18.35, for a total value of $104,117.90. Following the completion of the transaction, the insider now directly owns 117,294 shares in the company, valued at approximately $2,152,344.90. The trade was a 4.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,771 shares of company stock valued at $803,198 over the last ninety days. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Beam Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of BEAM. Vanguard Group Inc. lifted its stake in shares of Beam Therapeutics by 16.4% in the 1st quarter. Vanguard Group Inc. now owns 8,871,292 shares of the company’s stock worth $173,256,000 after acquiring an additional 1,249,303 shares during the period. ARK Investment Management LLC boosted its holdings in Beam Therapeutics by 20.0% in the 1st quarter. ARK Investment Management LLC now owns 8,480,089 shares of the company’s stock valued at $165,616,000 after purchasing an additional 1,412,060 shares in the last quarter. Farallon Capital Management LLC boosted its holdings in Beam Therapeutics by 0.4% in the 4th quarter. Farallon Capital Management LLC now owns 8,239,123 shares of the company’s stock valued at $204,330,000 after purchasing an additional 31,000 shares in the last quarter. Nikko Asset Management Americas Inc. increased its position in Beam Therapeutics by 7.9% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 4,270,020 shares of the company’s stock worth $83,265,000 after purchasing an additional 312,409 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Beam Therapeutics by 7.8% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,266,871 shares of the company’s stock worth $83,332,000 after buying an additional 309,260 shares in the last quarter. 99.68% of the stock is currently owned by hedge funds and other institutional investors.

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.