Beam Therapeutics Inc. (NASDAQ:BEAM – Get Rating) – Stock analysts at Jefferies Financial Group cut their Q2 2022 EPS estimates for shares of Beam Therapeutics in a report released on Monday, May 9th. Jefferies Financial Group analyst M. Yee now anticipates that the company will post earnings of ($0.92) per share for the quarter, down from their previous estimate of ($0.90). Jefferies Financial Group also issued estimates for Beam Therapeutics’ Q3 2022 earnings at ($1.33) EPS, Q4 2022 earnings at ($1.39) EPS, FY2022 earnings at ($4.65) EPS and FY2023 earnings at ($6.01) EPS.
BEAM has been the subject of several other research reports. Wedbush cut their price target on Beam Therapeutics from $159.00 to $152.00 and set an “outperform” rating for the company in a report on Monday, February 28th. Credit Suisse Group started coverage on Beam Therapeutics in a report on Thursday, April 28th. They issued a “neutral” rating and a $62.00 target price for the company. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $122.50.
Beam Therapeutics (NASDAQ:BEAM – Get Rating) last announced its quarterly earnings data on Monday, May 9th. The company reported ($1.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.32) by $0.31. The business had revenue of $8.40 million for the quarter, compared to analyst estimates of $44.15 million. Beam Therapeutics had a negative return on equity of 28.02% and a negative net margin of 395.37%. The company’s revenue was up 139900.0% on a year-over-year basis. During the same period in the prior year, the company earned ($3.35) earnings per share.
In related news, CEO John M. Evans sold 30,000 shares of Beam Therapeutics stock in a transaction dated Thursday, April 28th. The stock was sold at an average price of $37.98, for a total value of $1,139,400.00. Following the completion of the transaction, the chief executive officer now directly owns 1,118,520 shares in the company, valued at $42,481,389.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Terry-Ann Burrell sold 1,787 shares of Beam Therapeutics stock in a transaction dated Thursday, March 31st. The stock was sold at an average price of $59.11, for a total value of $105,629.57. Following the completion of the transaction, the chief financial officer now owns 38,278 shares of the company’s stock, valued at $2,262,612.58. The disclosure for this sale can be found here. Insiders sold a total of 59,373 shares of company stock worth $2,706,284 over the last ninety days. Corporate insiders own 0.74% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Morgan Stanley grew its holdings in shares of Beam Therapeutics by 44.9% during the 2nd quarter. Morgan Stanley now owns 301,634 shares of the company’s stock valued at $38,824,000 after acquiring an additional 93,439 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Beam Therapeutics by 167.6% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 5,941 shares of the company’s stock worth $517,000 after purchasing an additional 3,721 shares in the last quarter. Deutsche Bank AG grew its stake in Beam Therapeutics by 53.5% during the third quarter. Deutsche Bank AG now owns 47,744 shares of the company’s stock worth $4,154,000 after buying an additional 16,650 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Beam Therapeutics by 4.1% during the third quarter. PNC Financial Services Group Inc. now owns 6,052 shares of the company’s stock worth $526,000 after buying an additional 240 shares during the last quarter. Finally, Advisor Group Holdings Inc. grew its stake in shares of Beam Therapeutics by 14.1% during the third quarter. Advisor Group Holdings Inc. now owns 19,519 shares of the company’s stock valued at $1,697,000 after purchasing an additional 2,413 shares during the last quarter. 68.80% of the stock is currently owned by institutional investors.
Beam Therapeutics Company Profile (Get Rating)
Beam Therapeutics Inc, a biotechnology company, develops precision genetic medicines for patients suffering from serious diseases in the United States. The company is developing BEAM-101 for the treatment of sickle cell disease and beta thalassemia; BEAM-102 for the treatment of sickle cell disease; and BEAM-201, an allogeneic chimeric antigen receptor T cell for the treatment of relapsed/refractory T-cell acute lymphoblastic leukemia; and BEAM-301, a liver-targeted development candidate for the treatment of patients with Glycogen Storage Disease Type Ia.
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