Beam Therapeutics (NASDAQ:BEAM) Trading Down 6.7% - What's Next?

Key Points

• Shares slid about 6.7% midday, last trading near $28.14 after an intraday low cited at $29.10, with ~1.47M shares changing hands (roughly 26% below average volume).
• Beam delivered a major beat on the quarter—$2.33 EPS vs. -$1.13 consensus and $114.11M revenue (up ~280% YoY)—but the company remains unprofitable (negative ROE and net margin) and analysts forecast -$3.90 EPS for the year.
• Analysts overall rate Beam a "Moderate Buy" with a consensus price target of about $49.36, though individual targets vary widely (recent calls include Canaccord $74, Citigroup $68, Wedbush $65 and UBS $28).

Beam Therapeutics Inc. (NASDAQ:BEAM - Get Free Report)'s stock price was down 6.7% during mid-day trading on Friday . The stock traded as low as $29.10 and last traded at $28.14. Approximately 1,469,813 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 1,984,946 shares. The stock had previously closed at $30.16.

Analyst Upgrades and Downgrades

BEAM has been the topic of a number of research reports. Canaccord Genuity Group assumed coverage on Beam Therapeutics in a research report on Friday, February 20th. They set a "buy" rating and a $74.00 price target on the stock. Royal Bank Of Canada upped their price objective on Beam Therapeutics from $22.00 to $26.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 25th. Citigroup increased their price objective on Beam Therapeutics from $64.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, March 26th. Wedbush boosted their target price on Beam Therapeutics from $57.00 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 25th. Finally, UBS Group assumed coverage on Beam Therapeutics in a research note on Wednesday, January 7th. They issued a "neutral" rating and a $28.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Beam Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $49.36.

Beam Therapeutics Stock Down 7.6%

The firm's 50-day simple moving average is $26.96 and its 200-day simple moving average is $26.85. The firm has a market capitalization of $2.86 billion, a PE ratio of -27.89 and a beta of 2.18.

Beam Therapeutics (NASDAQ:BEAM - Get Free Report) last released its quarterly earnings data on Tuesday, February 24th. The company reported $2.33 EPS for the quarter, topping the consensus estimate of ($1.13) by $3.46. The firm had revenue of $114.11 million for the quarter, compared to the consensus estimate of $13.22 million. Beam Therapeutics had a negative return on equity of 30.65% and a negative net margin of 57.24%.The company's quarterly revenue was up 280.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.09) earnings per share. On average, equities research analysts forecast that Beam Therapeutics Inc. will post -3.9 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Christine Bellon sold 5,956 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $24.58, for a total transaction of $146,398.48. Following the completion of the sale, the insider owned 109,711 shares of the company's stock, valued at approximately $2,696,696.38. This represents a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Giuseppe Ciaramella sold 11,810 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $24.58, for a total transaction of $290,289.80. Following the completion of the transaction, the president owned 218,406 shares in the company, valued at $5,368,419.48. This represents a 5.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 79,544 shares of company stock worth $1,899,942. Company insiders own 3.50% of the company's stock.

Institutional Investors Weigh In On Beam Therapeutics

Large investors have recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Beam Therapeutics during the fourth quarter valued at about $47,000. Larson Financial Group LLC grew its stake in shares of Beam Therapeutics by 4,370.5% in the third quarter. Larson Financial Group LLC now owns 1,967 shares of the company's stock worth $48,000 after purchasing an additional 1,923 shares during the last quarter. Van ECK Associates Corp increased its holdings in Beam Therapeutics by 48.7% during the 3rd quarter. Van ECK Associates Corp now owns 2,158 shares of the company's stock valued at $52,000 after purchasing an additional 707 shares during the period. Kestra Advisory Services LLC purchased a new position in Beam Therapeutics during the 4th quarter valued at about $59,000. Finally, Daiwa Securities Group Inc. raised its position in Beam Therapeutics by 1,248.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 3,817 shares of the company's stock valued at $65,000 after purchasing an additional 3,534 shares during the last quarter. Institutional investors own 99.68% of the company's stock.

Beam Therapeutics Company Profile

Beam Therapeutics, Inc NASDAQ: BEAM is a biotechnology company dedicated to developing precision genetic medicines through its pioneering base editing platform. Headquartered in Cambridge, Massachusetts, with additional research facilities in Philadelphia, the company focuses on engineering molecular editors capable of making precise single-nucleotide changes in DNA. By harnessing its proprietary base editing technology, Beam aims to correct or disrupt disease-causing genetic variants at their source, offering the potential for novel therapies in areas with significant unmet medical need.

Founded in 2017 as a spin-out from Harvard University and the Broad and Whitehead Institutes, Beam was co-founded by leading academic researcher David R.

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