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

Beam Therapeutics Inc (NASDAQ: BEAM) is 9.04% 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 $30.55 in the last trading session, with the day’s loss setting it -0.87%.

Currently trading at $29.68, the stock is -15.26% and -8.81% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.16 million and changing -2.85% at the moment leaves the stock 6.45% off its SMA200. BEAM registered -3.07% loss for a year compared to 6-month gain of 38.05%. The firm has a 50-day simple moving average (SMA 50) of $3.91 and a 200-day simple moving average (SMA200) of -$9.44.

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The stock witnessed a -22.38% loss in the last 1 month and extending the period to 3 months gives it a 8.28%, and is -10.66% 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 3.91% over the week and 5.37% over the month.

Beam Therapeutics Inc (BEAM) has around 436 employees, a market worth around $2.42B and $377.71M in sales. Profit margin for the company is -35.09%. Distance from 52-week low is 75.10% and -40.04% 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 -$1.42 with sales reaching $16.97M over the same period.The EPS is expected to shrink by -212.06% this year, but quarterly earnings will post -83.20% year-over-year. Quarterly sales are estimated to shrink -29.90% in year-over-year returns.

293 institutions hold shares in Beam Therapeutics Inc (BEAM), with institutional investors hold 91.24% of the company’s shares. The shares outstanding are 81.63M, and float is at 67.96M with Short Float at 21.07%. Institutions hold 89.65% 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 Simon Amy, the company’s Chief Medical Officer. SEC filings show that Simon Amy sold 16,530 shares of the company’s common stock on Apr 02 ’24 at a price of $30.54 per share for a total of $0.5 million. Following the sale, the insider now owns 70060.0 shares.

Beam Therapeutics Inc disclosed in a document filed with the SEC on Apr 01 ’24 that Evans John M. (CEO) sold a total of 18,102 shares of the company’s common stock. The trade occurred on Apr 01 ’24 and was made at $32.13 per share for $0.58 million. Following the transaction, the insider now directly holds 1.06 million shares of the BEAM stock.

Still, SEC filings show that on Apr 01 ’24, Simon Amy (Chief Medical Officer) disposed off 7,157 shares at an average price of $32.13 for $0.23 million. The insider now directly holds 86,590 shares of Beam Therapeutics Inc (BEAM).

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