Beam Therapeutics (NASDAQ:BEAM - Get Free Report) was upgraded by equities research analysts at Cantor Fitzgerald to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports. Cantor Fitzgerald also issued estimates for Beam Therapeutics' FY2025 earnings at ($3.48) EPS and FY2026 earnings at ($2.92) EPS.
Other analysts also recently issued reports about the company. Wells Fargo & Company decreased their price target on Beam Therapeutics from $75.00 to $70.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Barclays dropped their price objective on Beam Therapeutics from $31.00 to $25.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. Bank of America upgraded Beam Therapeutics from a "neutral" rating to a "buy" rating and set a $42.00 target price for the company in a research report on Friday, March 28th. Guggenheim cut their price objective on Beam Therapeutics from $78.00 to $55.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Finally, HC Wainwright reissued a "buy" rating and issued a $80.00 target price on shares of Beam Therapeutics in a research note on Monday, April 7th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $48.75.
Read Our Latest Research Report on BEAM
Beam Therapeutics Stock Up 2.0%
Shares of NASDAQ BEAM traded up $0.42 during trading on Monday, reaching $21.37. The company had a trading volume of 585,816 shares, compared to its average volume of 2,031,015. The company's fifty day moving average price is $18.33 and its 200-day moving average price is $21.44. Beam Therapeutics has a 12 month low of $13.52 and a 12 month high of $35.25. The stock has a market cap of $2.15 billion, a P/E ratio of -4.61 and a beta of 2.07.
Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($1.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.11) by ($0.13). The business had revenue of $7.47 million during the quarter, compared to analyst estimates of $14.69 million. Beam Therapeutics had a negative net margin of 609.24% and a negative return on equity of 44.24%. The firm's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.21) earnings per share. As a group, equities analysts predict that Beam Therapeutics will post -4.57 earnings per share for the current year.
Institutional Trading of Beam Therapeutics
Several hedge funds and other institutional investors have recently made changes to their positions in BEAM. ARK Investment Management LLC boosted its stake in Beam Therapeutics by 20.0% during the 1st quarter. ARK Investment Management LLC now owns 8,480,089 shares of the company's stock valued at $165,616,000 after purchasing an additional 1,412,060 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Beam Therapeutics by 72.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,026,701 shares of the company's stock valued at $59,112,000 after acquiring an additional 1,273,559 shares during the period. Vanguard Group Inc. raised its holdings in Beam Therapeutics by 16.4% during the first quarter. Vanguard Group Inc. now owns 8,871,292 shares of the company's stock valued at $173,256,000 after acquiring an additional 1,249,303 shares during the period. EcoR1 Capital LLC purchased a new position in shares of Beam Therapeutics during the first quarter valued at about $10,286,000. Finally, Woodline Partners LP grew its position in shares of Beam Therapeutics by 169.6% during the first quarter. Woodline Partners LP now owns 760,611 shares of the company's stock valued at $14,855,000 after purchasing an additional 478,491 shares in the last quarter. Hedge funds and other institutional investors own 99.68% of the company's stock.
About Beam Therapeutics
(
Get Free Report)
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.
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