Wedbush weighs in on Beam Therapeutics Inc’s FY2028 earnings. (NASDAQ:BEAM)

Beam Therapeutics Inc. (NASDAQ:BEAM – Free Report) – Equities research analysts at Wedbush issued their FY2028 earnings estimates for shares of Beam Therapeutics in a report issued on Tuesday, August 6th. Wedbush analyst D. Nierengarten anticipates that the company will post earnings per share of ($1.94) for the year. Wedbush presently has an “Outperform” rating and a $57.00 target price on the stock. The consensus estimate for Beam Therapeutics’ current full-year earnings is ($4.68) per share.

Beam Therapeutics (NASDAQ:BEAM – Get Your Free Report ) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($1.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.13) by $0.02. The firm had revenue of $11.80 million during the quarter, compared to analysts’ expectations of $14.18 million. Beam Therapeutics had a negative net margin of 37.33% and a negative return on equity of 15.46%. The company’s quarterly revenue was down 41.3% year over year. In the same quarter last year, the company posted EPS of ($1.08).

Several other brokerages have also recently commented on BEAM. Royal Bank of Canada reissued a “sector perform” rating and issued a $27.00 target price on shares of Beam Therapeutics in a research report on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Beam Therapeutics from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday. Barclays reduced their price objective on shares of Beam Therapeutics from $33.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, HC Wainwright assumed coverage on shares of Beam Therapeutics in a research report on Tuesday, July 23rd. They set a “buy” rating and a $80.00 price objective for the company. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Beam Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $41.70, based on data from MarketBeat.

Check out our latest research report on Beam Therapeutics

Beam Therapeutics stock down 1.8%

BEAM stock traded down $0.45 during mid-day trading on Thursday, reaching $24.46. The company’s stock had a trading volume of 522,403 shares, compared to its average volume of 1,379,537. Beam Therapeutics has a 52-week low of $16.95 and a 52-week high of $49.50. The firm has a market cap of $2.01 billion, a P/E ratio of -13.74 and a beta of 1.87. The firm has a 50-day simple moving average of $25.71 and a 200-day simple moving average of $27.79.

Institutional inputs and outputs

A number of institutional investors have recently bought and sold shares of the company. Arizona State Retirement System raised its stake in Beam Therapeutics by 2.1% in the second quarter. Arizona State Retirement System now owns 19,431 shares of the company’s stock valued at $455,000 after purchasing an additional 392 shares during the period. First Horizon Advisors Inc. raised its stake in Beam Therapeutics by 125.9% in the fourth quarter. First Horizon Advisors Inc. now owns 994 shares of the company’s stock valued at $27,000 after purchasing an additional 554 shares during the period. E Fund Management Co. Ltd. boosted its stake in Beam Therapeutics by 4.0% in the fourth quarter. E Fund Management Co. Ltd. now owns 18,174 shares of the company’s stock valued at $495,000 after purchasing an additional 704 shares during the period. American International Group Inc. raised its stake in Beam Therapeutics by 2.0% in the first quarter. American International Group Inc. now owns 36,760 shares of the company’s stock valued at $1,215,000 after buying an additional 732 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Beam Therapeutics by 4.5% in the first quarter. Principal Financial Group Inc. now owns 18,418 shares of the company’s stock valued at $609,000 after buying an additional 789 shares during the period. 99.68% of shares are currently owned by institutional investors and hedge funds.

Insider buying and selling

In related news, CEO John M. Evans sold 60,000 shares of Beam Therapeutics stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $24.50, for a total transaction of $1,470,000.00. Following the sale, the chief executive officer now directly owns 998,343 shares in the company, valued at approximately $24,459,403.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. 4.20% of shares are owned by company insiders.

Beam Therapeutics Company Profile

(Get a free report)

Beam Therapeutics Inc, a biotechnology company, is committed to developing precision genetic medicines for patients suffering from serious diseases in the United States. It is developing BEAM-101 for the treatment of sickle cell disease or beta-thalassemia; and BEAM-302, a formulation of LNP targeting the liver 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.

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