Beam Therapeutics (BEAM) to Release Earnings on Tuesday

Beam Therapeutics (NASDAQ:BEAM) is anticipated to post its quarterly earnings results before the market opens on Tuesday, February 25th. Analysts expect Beam Therapeutics to post earnings of ($1.25) per share and revenue of $16.47 million for the quarter.

Beam Therapeutics Stock Up 13.2 %

Shares of Beam Therapeutics stock opened at $32.40 on Tuesday. Beam Therapeutics has a 52-week low of $20.84 and a 52-week high of $49.50. The company’s 50-day simple moving average is $26.81 and its 200-day simple moving average is $25.62. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of -18.41 and a beta of 1.92.

Insider Transactions at Beam Therapeutics

In other news, CEO John M. Evans sold 30,000 shares of Beam Therapeutics stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $26.75, for a total value of $802,500.00. Following the transaction, the chief executive officer now owns 908,659 shares of the company’s stock, valued at $24,306,628.25. The trade was a 3.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Christine Bellon sold 1,241 shares of Beam Therapeutics stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $24.68, for a total transaction of $30,627.88. Following the completion of the transaction, the insider now directly owns 102,968 shares in the company, valued at approximately $2,541,250.24. This trade represents a 1.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

Analysts Set New Price Targets

BEAM has been the topic of a number of recent analyst reports. Royal Bank of Canada dropped their price target on shares of Beam Therapeutics from $27.00 to $24.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 6th. Sanford C. Bernstein raised shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Leerink Partnrs raised shares of Beam Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 6th. Wedbush reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Beam Therapeutics in a report on Monday, January 13th. Finally, Leerink Partners raised shares of Beam Therapeutics from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $27.00 to $39.00 in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $47.67.

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.