Beam Therapeutics’ (BEAM) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Beam Therapeutics (NASDAQ:BEAM) in a research report released on Wednesday,Benzinga reports. Cantor Fitzgerald also issued estimates for Beam Therapeutics’ FY2025 earnings at ($3.27) EPS.

Several other equities analysts have also issued reports on the company. Jones Trading upgraded Beam Therapeutics from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Monday, March 10th. Royal Bank of Canada upped their price target on shares of Beam Therapeutics from $24.00 to $26.00 and gave the company a “sector perform” rating in a report on Wednesday, February 26th. Scotiabank upgraded shares of Beam Therapeutics from a “sector perform” rating to a “sector outperform” rating and set a $40.00 price objective on the stock in a report on Monday, March 10th. Guggenheim reaffirmed a “buy” rating and issued a $78.00 price objective on shares of Beam Therapeutics in a research report on Thursday, February 27th. Finally, HC Wainwright reiterated a “buy” rating and set a $80.00 target price on shares of Beam Therapeutics in a report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $50.82.

Beam Therapeutics Stock Performance

BEAM opened at $24.23 on Wednesday. The firm’s fifty day moving average is $27.09 and its two-hundred day moving average is $26.01. The firm has a market cap of $2.42 billion, a PE ratio of -13.77 and a beta of 1.91. Beam Therapeutics has a twelve month low of $20.84 and a twelve month high of $36.75.

Beam Therapeutics (NASDAQ:BEAM) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($1.09) EPS for the quarter, topping the consensus estimate of ($1.25) by $0.16. The business had revenue of $30.00 million for the quarter, compared to the consensus estimate of $16.47 million. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 41.07%. The firm’s revenue was down 90.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.73 EPS. Equities analysts forecast that Beam Therapeutics will post -4.57 EPS for the current fiscal year.

Insider Activity at Beam Therapeutics

In related news, CEO John M. Evans sold 30,000 shares of the business’s 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 in the company, valued at approximately $24,306,628.25. The trade was a 3.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $30,627.88. Following the completion of the sale, the insider now owns 102,968 shares of the company’s stock, valued at approximately $2,541,250.24. This represents a 1.19 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Atria Investments Inc bought a new position in Beam Therapeutics during the third quarter worth about $200,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Beam Therapeutics by 59.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,552,829 shares of the company’s stock valued at $87,044,000 after buying an additional 1,328,414 shares during the last quarter. Quest Partners LLC boosted its stake in shares of Beam Therapeutics by 410.8% during the 3rd quarter. Quest Partners LLC now owns 36,193 shares of the company’s stock worth $887,000 after acquiring an additional 29,108 shares during the period. Intech Investment Management LLC bought a new position in shares of Beam Therapeutics during the 3rd quarter worth approximately $512,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Beam Therapeutics by 6.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 629,492 shares of the company’s stock worth $15,423,000 after acquiring an additional 36,226 shares during the last quarter. 99.68% of the stock is currently owned by institutional investors and hedge funds.

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.