Beam Therapeutics (NASDAQ:BEAM) Stock Price Target Lowered at Canaccord Genuity Group

Beam Therapeutics (NASDAQ:BEAM) had its price objective decreased by analysts at Canaccord Genuity Group from $79.00 to $78.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group‘s price target indicates a potential upside of 180.68% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Wedbush upped their target price on Beam Therapeutics from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday. Bank of America reiterated a “buy” rating and issued a $47.00 target price on shares of Beam Therapeutics in a report on Wednesday, July 8th. William Blair raised Beam Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Beam Therapeutics in a research note on Thursday, October 15th. Finally, HC Wainwright restated a “buy” rating on shares of Beam Therapeutics in a report on Tuesday, October 27th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.00.

Beam Therapeutics Trading Up 5.5%

BEAM traded up $1.46 during trading on Wednesday, reaching $27.79. 1,347,902 shares of the stock traded hands, compared to its average volume of 2,031,725. The company has a quick ratio of 14.57, a current ratio of 14.57 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $2.87 billion, a PE ratio of -32.31 and a beta of 2.23. The stock’s 50-day moving average is $25.81 and its 200 day moving average is $28.10. Beam Therapeutics has a 12 month low of $20.23 and a 12 month high of $38.26.

Beam Therapeutics (NASDAQ:BEAM) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported ($1.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.11). Beam Therapeutics had a negative return on equity of 30.71% and a negative net margin of 54.75%. The business had revenue of $0.31 million for the quarter, compared to analyst estimates of $8.75 million. During the same quarter in the previous year, the business posted ($1.10) earnings per share. The business’s revenue was down 96.8% on a year-over-year basis. Equities analysts anticipate that Beam Therapeutics will post -4.49 earnings per share for the current year.

Insider Buying and Selling at Beam Therapeutics

In other news, CEO John Evans sold 25,000 shares of the company’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $23.57, for a total transaction of $589,250.00. Following the transaction, the chief executive officer owned 1,047,205 shares in the company, valued at approximately $24,682,621.85. This represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of Beam Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BEAM. Alphabet Inc. acquired a new position in shares of Beam Therapeutics during the second quarter valued at about $11,037,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Beam Therapeutics in the 2nd quarter worth about $1,309,000. Canal Insurance CO acquired a new stake in shares of Beam Therapeutics in the 1st quarter worth about $953,000. Legal & General Group Plc bought a new position in Beam Therapeutics in the 2nd quarter valued at about $2,717,000. Finally, Jupiter Topco LLC bought a new position in Beam Therapeutics in the 2nd quarter valued at about $3,259,000. 99.68% of the stock is owned by institutional investors.

Key Stories Impacting Beam Therapeutics

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

• Positive Sentiment: Beam said it will present updated Phase 1/2 BEACON trial data for risto-cel in sickle cell disease at the American Society of Hematology meeting. Initial patient-reported outcomes showed early, sustained improvements across areas including pain, fatigue, physical function and well-being. The results were selected for ASH’s official press program, and the company expects to submit a U.S. biologics license application as early as year-end 2026. Beam Therapeutics BEACON trial update
• Positive Sentiment: Wedbush raised its price target on BEAM to $30 from $28 and maintained an Outperform rating, signaling continued analyst optimism. Wedbush price target update
• Positive Sentiment: Beam reported that BEAM-302 showed durable increases in functional AAT and reductions in mutant Z-AAT; completion of dosing in its global pivotal cohort is expected in the first half of 2027. The company also plans to begin a Phase 1/2 trial of BEAM-304 for phenylketonuria in early 2027. Third-quarter results and pipeline update
• Negative Sentiment: Third-quarter results missed analyst expectations: Beam reported a loss of $1.28 per share versus the expected $1.17 loss, while revenue of $0.31 million came in well below the $8.75 million consensus estimate and declined 96.8% year over year. Beam Q3 results

Beam Therapeutics Company Profile

Beam Therapeutics Inc is a biotechnology company developing precision genetic medicines for patients with serious diseases. The company’s platform uses base editing, a form of gene editing designed to make targeted changes to individual DNA letters without creating double-strand breaks. Beam is also advancing related editing technologies and delivery systems intended to improve the precision and effectiveness of genetic treatments.

Beam’s pipeline includes investigational programs for diseases such as sickle cell disease, beta thalassemia, alpha-1 antitrypsin deficiency and glycogen storage disease type Ia.