Beam Therapeutics (BEAM) Scheduled to Post Quarterly Earnings on Tuesday

Beam Therapeutics (NASDAQ:BEAM) will post its quarterly earnings results before the market opens on Tuesday, November 5th. Analysts expect Beam Therapeutics to post earnings of ($1.13) per share for the quarter.

Beam Therapeutics (NASDAQ:BEAM) last released its earnings results on Tuesday, August 6th. The company reported ($1.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.13) by $0.02. The firm had revenue of $11.80 million for the quarter, compared to analyst estimates of $14.18 million. Beam Therapeutics had a negative return on equity of 16.22% and a negative net margin of 40.56%. The company’s revenue was down 41.3% on a year-over-year basis. During the same quarter last year, the firm posted ($1.08) EPS. On average, analysts expect Beam Therapeutics to post $-5 EPS for the current fiscal year and $-4 EPS for the next fiscal year.

Beam Therapeutics Stock Up 1.4 %

NASDAQ BEAM traded up $0.31 during trading on Wednesday, hitting $22.48. The company’s stock had a trading volume of 165,462 shares, compared to its average volume of 1,222,269. Beam Therapeutics has a 52 week low of $18.85 and a 52 week high of $49.50. The firm has a market cap of $1.85 billion, a P/E ratio of -12.61 and a beta of 1.85. The firm has a 50 day moving average price of $24.52 and a 200 day moving average price of $24.68.

Insider Buying and Selling

In other Beam Therapeutics news, President Giuseppe Ciaramella sold 51,110 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $26.27, for a total transaction of $1,342,659.70. Following the completion of the transaction, the president now directly owns 160,260 shares in the company, valued at $4,210,030.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Beam Therapeutics news, President Giuseppe Ciaramella sold 51,110 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $26.27, for a total transaction of $1,342,659.70. Following the sale, the president now directly owns 160,260 shares of the company’s stock, valued at approximately $4,210,030.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John M. Evans sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $24.60, for a total transaction of $1,476,000.00. Following the sale, the chief executive officer now directly owns 938,659 shares of the company’s stock, valued at approximately $23,091,011.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,784 shares of company stock worth $2,834,485 in the last 90 days. 4.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wedbush reissued an “outperform” rating and issued a $57.00 price target on shares of Beam Therapeutics in a report on Tuesday, August 6th. HC Wainwright reiterated a “buy” rating and issued a $80.00 target price on shares of Beam Therapeutics in a research note on Thursday, August 22nd. Barclays lowered their price target on Beam Therapeutics from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 7th. Scotiabank assumed coverage on Beam Therapeutics in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $24.00 price objective for the company. Finally, Stifel Nicolaus lifted their price objective on Beam Therapeutics from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Beam Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.80.

Beam Therapeutics Company Profile

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.