Beam Therapeutics (NASDAQ:BEAM) Given New $33.00 Price Target at Wedbush

Beam Therapeutics (NASDAQ:BEAM) had its price objective raised by Wedbush from $30.00 to $33.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Wedbush currently has an outperform rating on the stock.

A number of other equities research analysts have also weighed in on BEAM. Canaccord Genuity Group lowered their price target on shares of Beam Therapeutics from $79.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, November 4th. Wall Street Zen lowered shares of Beam Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, October 31st. Guggenheim decreased their price objective on shares of Beam Therapeutics from $55.00 to $51.00 and set a “buy” rating for the company in a research report on Thursday, November 5th. William Blair upgraded Beam Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 23rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Beam Therapeutics in a research note on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $47.64.

Beam Therapeutics Stock Performance

NASDAQ BEAM opened at $25.81 on Wednesday. Beam Therapeutics has a fifty-two week low of $20.23 and a fifty-two week high of $38.26. The business has a 50 day moving average price of $25.38 and a two-hundred day moving average price of $27.93. The company has a debt-to-equity ratio of 0.11, a quick ratio of 13.00 and a current ratio of 13.01.

Beam Therapeutics (NASDAQ:BEAM) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported ($1.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.11). The firm had revenue of $0.31 million for the quarter, compared to analysts’ expectations of $8.75 million. Beam Therapeutics had a negative net margin of 73.04% and a negative return on equity of 32.76%. The company’s revenue for the quarter was down 96.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.10) EPS. On average, equities analysts predict that Beam Therapeutics will post -4.65 EPS for the current fiscal year.

Insider Buying and Selling at Beam Therapeutics

In related news, CEO John Evans sold 25,000 shares of Beam Therapeutics stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $23.57, for a total value of $589,250.00. Following the completion of the sale, the chief executive officer owned 1,047,205 shares in the company, valued at approximately $24,682,621.85. The trade was a 2.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Beam Therapeutics in the 2nd quarter worth about $308,796,000. ARCH Venture Management LLC acquired a new position in Beam Therapeutics in the second quarter worth about $155,771,929. Dimensional Fund Advisors LP grew its stake in Beam Therapeutics by 10.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,154,575 shares of the company’s stock worth $51,327,000 after purchasing an additional 206,696 shares in the last quarter. ADAR1 Capital Management LLC bought a new stake in Beam Therapeutics in the first quarter valued at about $34,467,000. Finally, Bank of America Corp DE bought a new stake in Beam Therapeutics in the second quarter valued at about $24,733,000. 99.68% of the stock is currently owned by institutional investors.

Key Stories Impacting Beam Therapeutics

These are some of the BEAM stories that stood out recently:

• Positive Sentiment: Beam said its BEACON study of risto-cel met its primary efficacy endpoint: patients were free from severe vaso-occlusive crises for at least 12 consecutive months. The trial also met its primary safety endpoints and secondary endpoints, including freedom from hospitalization for severe crises. The results support a planned U.S. biologics license application as early as year-end 2026. Beam Therapeutics BEACON trial announcement
• Positive Sentiment: Wedbush raised its price target to $33 from $30 and reiterated an “outperform” rating, signaling confidence in BEAM’s outlook. Wedbush analyst recommendations
• Neutral Sentiment: Despite the clinical success, coverage reported that BEAM shares declined. The reaction suggests investors may be weighing the milestone against the remaining regulatory and commercial execution risks; the articles do not identify a specific concern driving the decline. Risto-cel would also enter a competitive market alongside existing sickle-cell treatments. Zacks coverage of BEAM’s trial results and share reaction

About Beam Therapeutics

Beam Therapeutics is a biotechnology company developing genetic medicines using base editing, a form of gene editing designed to make precise changes to DNA. Its platform includes base-editing technologies and delivery systems intended to address diseases by altering the genetic instructions involved in their development. The company’s research and development programs include potential treatments for genetic diseases, including sickle cell disease. Its work spans medicines made by editing a patient’s cells outside the body as well as approaches intended to deliver gene editing directly to cells in the body.