Beam Therapeutics (NASDAQ:BEAM) Stock Price Target Raised at Wedbush

Beam Therapeutics (NASDAQ:BEAM) had its price objective boosted by investment analysts at Wedbush from $30.00 to $33.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush‘s price objective would suggest a potential upside of 29.20% from the stock’s previous close.

A number of other analysts have also recently weighed in on the company. Wall Street Zen cut Beam Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 31st. William Blair upgraded Beam Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Beam Therapeutics in a research note on Thursday, October 15th. HC Wainwright reaffirmed a “buy” rating on shares of Beam Therapeutics in a research report on Tuesday, October 27th. Finally, Canaccord Genuity Group cut their target price on Beam Therapeutics from $79.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.64.

Beam Therapeutics Price Performance

BEAM opened at $25.54 on Wednesday. The company has a quick ratio of 13.00, a current ratio of 13.01 and a debt-to-equity ratio of 0.11. The company’s 50-day moving average price is $25.45 and its 200 day moving average price is $27.96. Beam Therapeutics has a fifty-two week low of $20.23 and a fifty-two week high of $38.26. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of -24.66 and a beta of 2.23.

Beam Therapeutics (NASDAQ:BEAM) last issued its earnings results on Tuesday, November 3rd. The company reported ($1.28) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.11). Beam Therapeutics had a negative net margin of 73.04% and a negative return on equity of 32.76%. The company had revenue of $0.31 million during the quarter, compared to analyst estimates of $8.75 million. During the same quarter in the previous year, the firm earned ($1.10) earnings per share. The business’s revenue was down 96.8% on a year-over-year basis. As a group, sell-side analysts expect that Beam Therapeutics will post -4.65 earnings per share for the current year.

Insider Activity at Beam Therapeutics

In other news, CEO John Evans sold 25,000 shares of Beam Therapeutics stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $23.57, for a total transaction of $589,250.00. Following the sale, the chief executive officer owned 1,047,205 shares of the company’s stock, valued at approximately $24,682,621.85. The trade was a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Beam Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BEAM. BlackRock Inc. acquired a new stake in Beam Therapeutics in the 2nd quarter valued at approximately $308,796,000. ARCH Venture Management LLC bought a new stake in Beam Therapeutics during the 2nd quarter valued at $155,771,929. Dimensional Fund Advisors LP boosted its position in Beam Therapeutics by 10.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,154,575 shares of the company’s stock worth $51,327,000 after acquiring an additional 206,696 shares during the period. ADAR1 Capital Management LLC acquired a new position in Beam Therapeutics during the 1st quarter worth $34,467,000. Finally, Bank of America Corp DE acquired a new position in Beam Therapeutics during the 2nd quarter worth $24,733,000. 99.68% of the stock is owned by institutional investors.

Beam Therapeutics News Summary

Here are the key news stories impacting Beam Therapeutics this week:

• Positive Sentiment: Beam said its BEACON Phase 1/2 trial of risto-cel met its primary efficacy endpoint: patients were free of severe vaso-occlusive crises for at least 12 consecutive months. The study also met its primary safety and secondary endpoints, supporting a planned biologics license application as early as year-end 2026. Beam Therapeutics announces positive topline pivotal data
• Positive Sentiment: HC Wainwright maintained a Buy rating and modestly improved several earnings estimates, reflecting slightly lower projected losses. HC Wainwright earnings estimates
• Neutral Sentiment: Risto-cel could eventually compete with established sickle cell treatments Casgevy and Lyfgenia, but the trial results are not yet an approval or evidence of commercial success. Beam’s sickle cell therapy results tee up potential showdown
• Negative Sentiment: Reports said BEAM declined despite the trial win. The provided coverage does not identify a specific trigger; investors may be looking beyond the headline results to regulatory review, launch execution and competition. Beam drops despite Phase 1/2 trial win

About Beam Therapeutics

Beam Therapeutics is a biotechnology company developing genetic medicines using base editing, a form of gene editing designed to make precise changes to DNA. Its platform includes base-editing technologies and delivery systems intended to address diseases by altering the genetic instructions involved in their development. The company’s research and development programs include potential treatments for genetic diseases, including sickle cell disease. Its work spans medicines made by editing a patient’s cells outside the body as well as approaches intended to deliver gene editing directly to cells in the body.