# Beam Therapeutics Inc. (BEAM)

> Source: Nexqual · https://nexqual.com/BEAM · data as of 2026-10-28 20:00 UTC · cite as "Nexqual, Beam Therapeutics Inc. (BEAM), nexqual.com/BEAM" · informational, not investment advice.

**Price:** USD 28.78 (+15.58% on the day) · last close of Oct 28, 2026; US market after hours, not a live price. Prev close 24.9 · day 24.5–28.86 · 52w 20.23–38.26 · market cap $2.97B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $156M, net income -$85.4M (-54.7% margin), free cash flow -$373M (SEC filings).
- Insider open-market sales, last ~7 months: 6 Form 4 filings, $13.4M; 1 not under a Rule 10b5-1 plan ($10.0M); 0 by opportunistic insiders, 4 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.07 on a 1–5 scale) (15 analysts), mean target USD 49.31 (range 26–80).
- Total return with dividends: 1Y +16.2% vs S&P 500 +13.6%; 5Y -67.6% vs S&P 500 +79.8%.
- Next earnings: 2026-11-03, EPS estimate USD -1.17, revenue estimate $10.0M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $51.8M | $60.9M | $378M | $63.5M | $140M | $156M |
| Operating income | -$392M | -$338M | -$176M | -$416M | -$384M | -$378M |
| Net income | -$371M | -$289M | -$133M | -$377M | -$80.0M | -$85.4M |
| EPS (diluted) | -$5.77 | -$4.13 | -$1.72 | -$4.58 | -$0.81 | — |
| Free cash flow | -$113M | -$26.4M | -$183M | -$356M | -$360M | -$373M |
| Operating margin | -757.0% | -555.6% | -46.7% | -654.3% | -274.6% | -242.3% |
| Net margin | -714.9% | -474.5% | -35.1% | -593.1% | -57.2% | -54.7% |
| Revenue growth | +215916.7% | +17.5% | +520.0% | -83.2% | +120.0% | — |
| Cash + short-term investments | $966M | $1.10B | $1.20B | $851M | $1.20B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 19.1x · EV/Sales 12.0x · P/B 2.8x · FCF yield -12.54% · Earnings yield -2.87% · Net cash $1.10B · EV $1.87B

## Insider sales (SEC Form 4, open-market, last ~7 months)
5 of 6 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-15…2026-10-16 | Evans John M. | CEO | 50,000 | $1.2M | 4.2% | Yes (adopted June 16, 2026) | Routine (sold in Apr each year 2023–2025; this trade is outside those months) |
| 2026-10-01 | Cavanagh Bethany J | SVP, Finance and Treasurer | 187 | $5K | 0.4% | Yes (adopted August 9, 2024) | Too little history (no open-market trades in 2023) |
| 2026-07-27 | Simon Amy | Chief Medical Officer | 16,667 | $429K | 16.3% | Yes (adopted March 27, 2026) | Routine (sold in Apr & Jul each year 2023–2025) |
| 2026-06-30 | Simon Amy | Chief Medical Officer | 373 | $13K | 0.4% | Yes (adopted May 19, 2023) | Routine (sold in Apr & Jul each year 2023–2025; this trade is outside those months) |
| 2026-06-29…2026-06-30 | Evans John M. | CEO | 50,000 | $1.7M | 4.2% | Yes (adopted May 16, 2025) | Routine (sold in Apr each year 2023–2025; this trade is outside those months) |
| 2026-06-25…2026-06-26 | Fmr Llc |  | 284,860 | $10.0M | 14.4% | No | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.07 on a 1–5 scale), 15 analysts; mean target USD 49.31 (low 26, high 80).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-28 | Wedbush | Target lowered | Outperform | $65 → $28 |
| 2026-10-15 | HC Wainwright & Co. | Reiterated | Buy | $80 |
| 2026-10-14 | Wedbush | Reiterated | Outperform | $65 |
| 2026-09-09 | Wedbush | Reiterated | Outperform | $65 |
| 2026-08-25 | HC Wainwright & Co. | Reiterated | Buy | $80 |
| 2026-07-08 | B of A Securities | Reiterated | Buy | $47 |
| 2026-07-07 | HC Wainwright & Co. | Reiterated | Buy | $80 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-29) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +16.2% | -67.6% |
| S&P 500 (SPY) | +13.6% | +79.8% |
| Per year | +16.3% | -20.1% |
| Volatility (annualized) | 70.6% | 68.3% |
| Max drawdown | -39.1% (Jul 2026→Sep 2026) | -83.4% (Nov 2021→Mar 2025) |

## Peers (Biotechnology)
ORKA (Oruka Therapeutics, Inc.) USD 95.97 +0.17% · RYTM (Rhythm Pharmaceuticals, Inc.) USD 91.97 -0.23% · IOVA (Iovance Biotherapeutics, Inc.) USD 14.81 +1.58% · IONS (Ionis Pharmaceuticals, Inc.) USD 44.9 +2.14% · AXSM (Axsome Therapeutics, Inc.) USD 143.51 +0.92% · PRAX (Praxis Precision Medicines, Inc) USD 285.48 +6.69%

## More
Full page: https://nexqual.com/BEAM · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in BEAM's own 10-K filed 2026-02-24 (https://www.sec.gov/Archives/edgar/data/1745999/000119312526065194/beam-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Editas Medicine, Inc. (EDIT) | "License agreement with Editas Medicine, Inc." |
| Partner | Pfizer (PFE) | "In December 2021, we entered into a four-year research collaboration agreement with Pfizer Inc., or Pfizer, focused on in vivo base editing programs for three targets for rare genetic diseases." |
| Partner | Bio Palette | "Certain of the patents, or the Kobe Patents, licensed to us under the Bio Palette License Agreement were licensed to Bio Palette from Kobe University under a license agreement we refer to as the Kobe Head License." |
| Partner | Eli Lilly (LLY) | "Under the terms of the Lilly Agreement, we received a $200.0 million payment and are eligible to receive up to $350.0 million in potential future development-stage payments upon the completion of certain clinical, regula…" |
| Partner | Broad Institute | "Certain of the patents licensed to us under the Editas License Agreement were licensed to Editas from Broad Institute and Harvard and certain of the patents for which we have an option to obtain a license were licensed t…" |
| Partner | Apellis Pharmaceuticals | "In June 2021, we entered into a research collaboration agreement, or the Apellis Agreement, with Apellis Pharmaceuticals, Inc., or Apellis, focused on the use of our base editing technology to discover new treatments for…" |
| Partner | Orbital Therapeutics | "We are party to a license agreement, or the Orbital Agreement, with Orbital, pursuant to which each of us have granted the other non-exclusive licenses to certain technology that is necessary or reasonably useful for the…" |
| Partner | Verve Therapeutics | "We are party to a license agreement, or the Verve Agreement, with Verve Therapeutics, Inc., or Verve, pursuant to which we granted Verve exclusive worldwide licenses under our base editing technologies for human therapeu…" |
| Partner | General | "Certain of the patents licensed to us under the Editas License Agreement were licensed to Editas from Broad Institute and Harvard and certain of the patents for which we have an option to obtain a license were licensed t…" |
| Partner | ALEXANDRIA REAL ESTATE EQUITIES, INC. (ARE) | "Additionally, we entered into a lease agreement with Alexandria Real Estate Equities, Inc. pursuant to which we built" |

Other companies that name BEAM in their own reports (relationship from BEAM's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | Editas Medicine, Inc. (EDIT) | 10-K 2026-03-09 | "Beam Therapeutics License Agreement" |
| partner | Prime Medicine, Inc. (PRME) | 10-K 2026-03-03 | "•We may enter into collaborations with collaborators and strategic partners such as Beam Therapeutics Inc., or Beam, or other third parties for the research, development, delivery, manufacturing and c…" |
| partner | Sana Biotechnology, Inc. (SANA) | 10-K 2026-03-03 | "License Agreement with Beam" |

## Company outlook (8-K filed 2026-08-04)

- "Biologics License Application (BLA) Submission Expected as Early as Year-End 2026 Clinical Trial Start-up Activities Underway Following U.S."
- "Cash Runway Expected to Support Operating Plans into mid-2029 Cambridge, Mass., August 4, 2026 – Beam Therapeutics Inc."
- "Looking ahead, we believe Beam is positioned to achieve several important milestones, including updated clinical data for BEAM-302 at the ERS Congress, rapid enrollment in the BEAM-302 pivotal cohort, first-in-human data for BEAM-301 in GSDIa, and the expected BLA submission for risto-cel."
- "BEAM-301: BEAM-301 aims to correct one of the most common disease-causing mutations, R83C, in patients with glycogen storage disease type Ia (GSDIa). • BEAM-301 is currently being evaluated in an open-label Phase 1/2 dose-exploration trial in patients with GSDIa. • Beam expects to report initial clinical data in 2026."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-1.17 | $-1.17 | $0.00 | $10.0M | 13 |
| Next quarter (ends 2026-12-31) | $-1.19 | $-1.20 | +$0.01 | $11.6M | 13 |
| Current fiscal year (ends 2026-12-31) | $-4.46 | $-4.43 | −$0.02 | $53.2M | 14 |
| Next fiscal year (ends 2027-12-31) | $-4.74 | $-4.73 | −$0.01 | $61.8M | 14 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-03): ±15.4%; last 8 reports averaged ±8.9%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 23 | 77.2% | ±15.4% |
| 2026-12-18 | 51 | 66.8% | ±19.7% |
| 2027-01-15 | 79 | 68.3% | ±24.9% |
| 2027-02-19 | 114 | 60.3% | ±26.5% |
| 2027-05-21 | 205 | 78.1% | ±45.3% |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| Aug 4, 2026 | Quarter ended Jun 30, 2026 | −$1.18 | −$1.13 | Miss −4.4% | +4.5% |
| May 7, 2026 | Quarter ended Mar 31, 2026 | −$0.91 | −$1.01 | Beat +9.9% | -0.1% |
| Feb 24, 2026 | Quarter ended Dec 31, 2025 | $2.33 | −$1.12 | Beat +$3.45 | +4.5% |
| Jan 12, 2026 | Quarter ended Dec 31, 2025 | $2.33 | −$1.12 | Beat +$3.45 | +25.4% |
| Nov 4, 2025 | Quarter ended Sep 30, 2025 | −$1.10 | −$1.01 | Miss −8.9% | -4.9% |
| Aug 5, 2025 | — | — | — | — | -4.3% |
| May 6, 2025 | — | — | — | — | -18.1% |
| Feb 25, 2025 | — | — | — | — | -9.4% |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-08-14 | Schedule 13G/A | ARK Investment Management LLC, Catherine D. Wood: 9.9% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1745999/000110465926096939/0001104659-26-096939-index.htm |
| 2026-08-13 | Schedule 13G/A | Farallon Capital Management, L.L.C., Farallon Capital Partners, L.P.: 10.0% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1745999/000090883426000397/0000908834-26-000397-index.htm |
| 2026-08-04 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1745999/000119312526331541/0001193125-26-331541-index.htm |
| 2026-08-04 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/1745999/000119312526331522/0001193125-26-331522-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.