Brokers Set Expectations for Beam Therapeutics Inc.’s Q2 2022 Earnings (NASDAQ:BEAM)

Beam Therapeutics Inc. (NASDAQ:BEAMGet Rating) – Analysts at SVB Leerink reduced their Q2 2022 EPS estimates for Beam Therapeutics in a research report issued to clients and investors on Monday, May 9th. SVB Leerink analyst R. Bienkowski now anticipates that the company will post earnings of ($1.01) per share for the quarter, down from their previous forecast of ($0.87). SVB Leerink also issued estimates for Beam Therapeutics’ Q3 2022 earnings at ($1.02) EPS, Q4 2022 earnings at ($1.04) EPS, FY2022 earnings at ($4.07) EPS and FY2023 earnings at ($3.82) EPS.

Beam Therapeutics (NASDAQ:BEAMGet Rating) last posted its quarterly earnings data on Monday, May 9th. The company reported ($1.01) EPS for the quarter, topping the consensus estimate of ($1.32) by $0.31. Beam Therapeutics had a negative return on equity of 28.02% and a negative net margin of 395.37%. The company had revenue of $8.40 million during the quarter, compared to analyst estimates of $44.15 million. During the same period in the previous year, the business earned ($3.35) EPS. Beam Therapeutics’s quarterly revenue was up 139900.0% on a year-over-year basis.

A number of other research analysts have also recently commented on BEAM. Credit Suisse Group started coverage on Beam Therapeutics in a research note on Thursday, April 28th. They set a “neutral” rating and a $62.00 price target on the stock. Wedbush cut their price target on Beam Therapeutics from $159.00 to $152.00 and set an “outperform” rating on the stock in a research note on Monday, February 28th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $122.50.

BEAM stock opened at $35.45 on Thursday. The firm has a market capitalization of $2.49 billion, a PE ratio of -9.82 and a beta of 1.59. Beam Therapeutics has a 1 year low of $27.77 and a 1 year high of $138.52. The business has a 50 day simple moving average of $50.13 and a 200-day simple moving average of $67.08.

In other Beam Therapeutics news, insider Fmr Llc sold 19,466 shares of the firm’s stock in a transaction dated Wednesday, April 13th. The shares were sold at an average price of $50.41, for a total value of $981,281.06. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John M. Evans sold 6,261 shares of the firm’s stock in a transaction dated Thursday, March 31st. The stock was sold at an average price of $59.11, for a total transaction of $370,087.71. Following the completion of the transaction, the chief executive officer now directly owns 1,089,070 shares in the company, valued at approximately $64,374,927.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,373 shares of company stock valued at $2,706,284. 0.74% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the stock. TFC Financial Management raised its holdings in Beam Therapeutics by 111.1% in the 4th quarter. TFC Financial Management now owns 570 shares of the company’s stock worth $45,000 after acquiring an additional 300 shares during the period. Cutler Group LP boosted its position in Beam Therapeutics by 825.0% in the first quarter. Cutler Group LP now owns 925 shares of the company’s stock valued at $53,000 after buying an additional 825 shares in the last quarter. Kessler Investment Group LLC acquired a new position in Beam Therapeutics in the first quarter valued at about $58,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Beam Therapeutics during the first quarter worth approximately $62,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Beam Therapeutics during the first quarter worth approximately $86,000. 68.80% of the stock is owned by hedge funds and other 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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Earnings History and Estimates for Beam Therapeutics (NASDAQ:BEAM)

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