Why Is Beam Therapeutics (BEAM) Down 2.3% Since Last Earnings Report?

A month has gone by since the last earnings report for Beam Therapeutics Inc. (BEAM). Shares have lost about 2.3% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Beam Therapeutics due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Beam Therapeutics' Q3 Earnings & Revenues Lag EstimatesBeam Therapeutics incurred a loss of $1.17 per share in the third quarter of 2024, wider than the Zacks Consensus Estimate of a loss of $1.13. The company had recorded a loss of $1.22 per share in the year-ago quarter.Total revenues, comprising license and collaboration revenues, came in at $14.3 million in the third quarter compared with $17.2 million reported in the year-ago period. The top line missed the Zacks Consensus Estimate of $15 million.Quarter in DetailResearch and development expenses were $94.3 million in the third quarter, down almost 5.8% from the year-ago quarter’s level.General and administrative expenses totaled $26.5 million, increasing around 4.3% year over year.As of Sept 30, 2024, BEAM had cash, cash equivalents and marketable securities worth $925.8 million compared with $1.2 billion as of June 30, 2024. The company expects that its existing cash balance is likely to fund its operating expenses into 2027.How Have Estimates Been Moving Since Then?It turns out, fresh estimates have trended downward during the past month.VGM ScoresCurrently, Beam Therapeutics has a poor Growth Score of F, however its Momentum Score is doing a bit better with a D. Charting a somewhat similar path, the stock was allocated a grade of F on the value side, putting it in the fifth quintile for this investment strategy.Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Beam Therapeutics has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.Performance of an Industry PlayerBeam Therapeutics belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, BioMarin Pharmaceutical (BMRN), has gained 0.5% over the past month. More than a month has passed since the company reported results for the quarter ended September 2024.BioMarin reported revenues of $745.74 million in the last reported quarter, representing a year-over-year change of +28.3%. EPS of $0.91 for the same period compares with $0.46 a year ago.BioMarin is expected to post earnings of $0.72 per share for the current quarter, representing a year-over-year change of +46.9%. Over the last 30 days, the Zacks Consensus Estimate has changed -0.9%.BioMarin has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of A.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Beam Therapeutics Inc. (BEAM): Free Stock Analysis Report BioMarin Pharmaceutical Inc. (BMRN): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks