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Beam Therapeutics Inc (BEAM) – Don’t Believe the Hype: Check The Facts

Beam Therapeutics Inc (NASDAQ: BEAM) is 37.29% higher on its value in year-to-date trading and has touched a low of $16.95 and a high of $49.50 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The BEAM stock was last observed hovering at around $35.80 in the last trading session, with the day’s gains setting it 1.57%.

Currently trading at $37.37, the stock is 3.23% and 23.41% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.05 million and changing 4.39% at the moment leaves the stock 34.35% off its SMA200. BEAM registered 10.69% gain for a year compared to 6-month gain of 42.74%. The firm has a 50-day simple moving average (SMA 50) of $5.39 and a 200-day simple moving average (SMA200) of -$13.00.

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The stock witnessed a 11.89% loss in the last 1 month and extending the period to 3 months gives it a 40.23%, and is -2.38% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.05% over the week and 7.68% over the month.

Beam Therapeutics Inc (BEAM) has around 436 employees, a market worth around $3.05B and $377.71M in sales. Profit margin for the company is -35.09%. Distance from 52-week low is 120.47% and -24.51% from its 52-week high. The company has generated returns on investments over the last 12 months (-11.61%).

Beam Therapeutics Inc quarterly earnings per share for the current quarter are estimated at -$1.39 with sales reaching $17.38M over the same period.The EPS is expected to shrink by -207.97% this year, but quarterly earnings will post -82.90% year-over-year. Quarterly sales are estimated to shrink -28.20% in year-over-year returns.

289 institutions hold shares in Beam Therapeutics Inc (BEAM), with institutional investors hold 91.18% of the company’s shares. The shares outstanding are 81.63M, and float is at 67.96M with Short Float at 19.29%. Institutions hold 89.59% of the Float.

The top institutional shareholder in the company is ARK Investment Management, LLC with over 8.78 million shares valued at $211.25 million. The investor’s holdings represent 11.09% of the BEAM Shares outstanding. As of Jun 29, 2023, the second largest holder is FMR, LLC with 7.14 million shares valued at $227.91 million to account for 9.01% of the shares outstanding. The other top investors are Vanguard Group Inc which holds 7.01 million shares representing 8.85% and valued at over $223.83 million, while Blackrock Inc. holds 8.02% of the shares totaling 6.35 million with a market value of $202.78 million.

Beam Therapeutics Inc (BEAM) Insider Activity

The most recent transaction is an insider sale by FMR LLC, the company’s SEC filings show that FMR LLC sold 900,000 shares of the company’s common stock on Feb 14 ’24 at a price of $30.55 per share for a total of $27.5 million. Following the sale, the insider now owns 1.24 million shares.

Beam Therapeutics Inc disclosed in a document filed with the SEC on Feb 13 ’24 that FMR LLC. sold a total of 1,565 shares of the company’s common stock. The trade occurred on Feb 13 ’24 and was made at $30.76 per share for $48139.0. Following the transaction, the insider now directly holds 2.77 million shares of the BEAM stock.

Still, SEC filings show that on Jan 31 ’24, Evans John M. (CEO) disposed off 60,000 shares at an average price of $25.33 for $1.52 million. The insider now directly holds 1,058,262 shares of Beam Therapeutics Inc (BEAM).

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