Jefferies Financial Group Brokers Reduce Earnings Estimates for Beam Therapeutics Inc. (NASDAQ:BEAM)

Beam Therapeutics Inc. (NASDAQ:BEAM) – Research analysts at Jefferies Financial Group cut their Q2 2021 earnings per share estimates for shares of Beam Therapeutics in a research note issued on Tuesday, May 11th. Jefferies Financial Group analyst M. Yee now expects that the company will post earnings per share of ($0.74) for the quarter, down from their prior estimate of ($0.72). Jefferies Financial Group also issued estimates for Beam Therapeutics’ Q3 2021 earnings at ($0.76) EPS, Q4 2021 earnings at ($0.79) EPS, FY2021 earnings at ($5.62) EPS, Q1 2022 earnings at ($0.81) EPS, Q2 2022 earnings at ($0.83) EPS, Q3 2022 earnings at ($0.82) EPS, Q4 2022 earnings at ($0.84) EPS and FY2022 earnings at ($3.29) EPS.

Beam Therapeutics (NASDAQ:BEAM) last posted its earnings results on Monday, May 10th. The company reported ($3.35) EPS for the quarter, missing the consensus estimate of ($0.74) by ($2.61). Beam Therapeutics had a negative return on equity of 103.41% and a negative net margin of 529,075.00%.

BEAM has been the topic of a number of other research reports. Barclays restated an “equal weight” rating and issued a $90.00 price target (up previously from $47.00) on shares of Beam Therapeutics in a research report on Monday, March 8th. Zacks Investment Research lowered shares of Beam Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday. Royal Bank of Canada began coverage on shares of Beam Therapeutics in a research note on Monday, May 10th. They issued a “sector perform” rating and a $85.00 price objective for the company. JPMorgan Chase & Co. lowered shares of Beam Therapeutics from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $38.00 to $100.00 in a research note on Friday, January 29th. Finally, Wedbush lifted their price objective on shares of Beam Therapeutics from $42.00 to $112.00 in a research note on Thursday, February 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Beam Therapeutics currently has a consensus rating of “Hold” and an average target price of $94.17.

Shares of NASDAQ BEAM opened at $71.92 on Friday. The company has a market capitalization of $4.50 billion and a P/E ratio of -5.12. Beam Therapeutics has a 52-week low of $18.76 and a 52-week high of $126.90. The company’s 50 day moving average price is $75.27 and its 200-day moving average price is $84.90.

In other Beam Therapeutics news, CEO John M. Evans sold 25,000 shares of the business’s stock in a transaction on Wednesday, April 21st. The shares were sold at an average price of $70.49, for a total transaction of $1,762,250.00. Following the completion of the sale, the chief executive officer now owns 1,038,966 shares in the company, valued at approximately $73,236,713.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.74% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. ARK Investment Management LLC grew its stake in shares of Beam Therapeutics by 322.3% in the 1st quarter. ARK Investment Management LLC now owns 4,779,104 shares of the company’s stock worth $382,519,000 after acquiring an additional 3,647,481 shares in the last quarter. BlackRock Inc. grew its stake in shares of Beam Therapeutics by 41.8% in the 4th quarter. BlackRock Inc. now owns 3,159,510 shares of the company’s stock worth $257,945,000 after acquiring an additional 931,108 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Beam Therapeutics by 12.3% in the 1st quarter. Geode Capital Management LLC now owns 596,405 shares of the company’s stock worth $47,736,000 after acquiring an additional 65,440 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Beam Therapeutics by 663.8% in the 1st quarter. Victory Capital Management Inc. now owns 593,605 shares of the company’s stock worth $47,513,000 after acquiring an additional 515,886 shares in the last quarter. Finally, Bellevue Group AG grew its stake in shares of Beam Therapeutics by 42.8% in the 1st quarter. Bellevue Group AG now owns 566,821 shares of the company’s stock worth $45,368,000 after acquiring an additional 170,000 shares in the last quarter. Hedge funds and other institutional investors own 49.79% of the company’s stock.

About Beam Therapeutics

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.

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Earnings History and Estimates for Beam Therapeutics (NASDAQ:BEAM)

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