Beam Therapeutics (NASDAQ:BEAM – Get Free Report) released its quarterly earnings data on Tuesday. The company reported ($1.28) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.11), RTT News reports. The firm had revenue of $0.31 million during the quarter, compared to the consensus estimate of $8.75 million. Beam Therapeutics had a negative net margin of 54.75% and a negative return on equity of 30.71%. Beam Therapeutics’s quarterly revenue was down 96.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.10) EPS.
Beam Therapeutics Stock Up 3.5%
BEAM traded up $0.91 during trading on Tuesday, hitting $26.77. The company had a trading volume of 85,039 shares, compared to its average volume of 2,028,405. The company has a market capitalization of $2.77 billion, a PE ratio of -31.16 and a beta of 2.20. Beam Therapeutics has a one year low of $20.23 and a one year high of $38.26. The firm’s 50-day moving average price is $25.85 and its 200 day moving average price is $28.14. The company has a quick ratio of 14.57, a current ratio of 14.57 and a debt-to-equity ratio of 0.09.
Insider Transactions at Beam Therapeutics
In other Beam Therapeutics news, CEO John Evans sold 25,000 shares of the stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $23.57, for a total transaction of $589,250.00. Following the completion of the transaction, the chief executive officer owned 1,047,205 shares in the company, valued at approximately $24,682,621.85. This represents a 2.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.80% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the company. Wedbush decreased their target price on Beam Therapeutics from $65.00 to $28.00 and set an “outperform” rating for the company in a research note on Wednesday, October 28th. Bank of America restated a “buy” rating and issued a $47.00 price target on shares of Beam Therapeutics in a report on Wednesday, July 8th. William Blair raised Beam Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 23rd. Canaccord Genuity Group lifted their price objective on Beam Therapeutics from $78.00 to $79.00 and gave the company a “buy” rating in a report on Thursday. Finally, HC Wainwright reiterated a “buy” rating on shares of Beam Therapeutics in a research report on Tuesday, October 27th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $46.90.
View Our Latest Research Report on BEAM
Beam Therapeutics Company Profile
Beam Therapeutics Inc is a biotechnology company developing precision genetic medicines for patients with serious diseases. The company’s platform uses base editing, a form of gene editing designed to make targeted changes to individual DNA letters without creating double-strand breaks. Beam is also advancing related editing technologies and delivery systems intended to improve the precision and effectiveness of genetic treatments.
Beam’s pipeline includes investigational programs for diseases such as sickle cell disease, beta thalassemia, alpha-1 antitrypsin deficiency and glycogen storage disease type Ia.
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