Stocks of Beam Therapeutics Inc. (NASDAQ:BEAM) traded higher last session on Wall Street, down -4.21% to $38.68.
BEAM stock price is now -11.13% away from the 50-day moving average and -18.64% away from the 200-day moving average. The market capitalization of the company currently stands at $2.78B.
With the price target enhanced from $61 to $66, BMO Capital Markets Upgraded its rating from Market Perform to Outperform for Beam Therapeutics Inc. (NASDAQ: BEAM). On December 13, 2022, Citigroup recently initiated its ‘Buy’ rating on the stock quoting a target price of $62, while ‘BMO Capital Markets’ rates the stock as ‘Market Perform’.
In other news, Ciaramella Giuseppe, President & CSO sold 53,729 shares of the company’s stock on Jan 03. The stock was sold for $2,012,490 at an average price of $37.46. Upon completion of the transaction, the President & CSO now directly owns 95,962 shares in the company, valued at $3.71 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 12, President & CSO Ciaramella Giuseppe sold 51,015 shares of the business’s stock. A total of $2,178,229 was realized by selling the stock at an average price of $42.70. This leaves the insider owning 91,462 shares of the company worth $3.54 million. Insiders disposed of 3,285,986 shares of company stock worth roughly $127.1 million over the past 1 year. A total of 1.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in BEAM stock. A new stake in Beam Therapeutics Inc. shares was purchased by EVENTIDE ASSET MANAGEMENT, LLC during the first quarter worth $10,329,000. HOOD RIVER CAPITAL MANAGEMENT LLC invested $8,896,000 in shares of BEAM during the first quarter. In the first quarter, WOODLINE PARTNERS LP acquired a new stake in Beam Therapeutics Inc. valued at approximately $3,216,000. SECTORAL ASSET MANAGEMENT INC acquired a new stake in BEAM for approximately $2,541,000. AMERIPRISE FINANCIAL INC purchased a new stake in BEAM valued at around $2,190,000 in the second quarter. In total, there are 306 active investors with 87.10% ownership of the company’s stock.
Monday’s opening bell rang with an opening price of $41.07 for Beam Therapeutics Inc. (NASDAQ: BEAM). During the past 12 months, Beam Therapeutics Inc. has had a low of $27.77 and a high of $80.00. As of last week, the company has a debt-to-equity ratio of 0.01, a current ratio of 4.60, and a quick ratio of 4.60. The fifty day moving average price for BEAM is $43.52 and a two-hundred day moving average price translates $47.54 for the stock.
The latest earnings results from Beam Therapeutics Inc. (NASDAQ: BEAM) was released for Jun, 2022. According to the Biotechnology Company, earnings per share came in at -$1.02, beating analysts’ expectations of -$1.08 by 0.06. This compares to -$0.42 EPS in the same period last year. The company reported revenue of $15.8 million for the quarter, compared to $0.76 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 1970.64 percent. For the current quarter, analysts expect BEAM to generate $7.94M in revenue.
Beam Therapeutics Inc.(BEAM) Company Profile
Beam Therapeutics Inc., a biotechnology company, develops precision genetic medicines for patients suffering from serious diseases in the United States. The company is developing BEAM-101 for the treatment of sickle cell disease and beta thalassemia; BEAM-102 for the treatment of sickle cell disease; and BEAM-201, an allogeneic chimeric antigen receptor T cell for the treatment of relapsed/refractory T-cell acute lymphoblastic leukemia; and BEAM-301, a liver-targeted development candidate for the treatment of patients with Glycogen Storage Disease Type Ia. It also develops therapies for alpha-1 antitrypsin deficiency; ocular diseases; and other liver, muscle, and central nervous system disorders. The company has an alliance with Boston Children’s Hospital; a research and clinical trial collaboration agreement with Magenta Therapeutics, Inc.; license agreement with Sana Biotechnology, Inc.; and a research collaboration with the Institute of Molecular and Clinical Ophthalmology Basel. It also has a research collaboration agreement with Pfizer Inc. and Apellis Pharmaceuticals, Inc.; and collaboration and license agreement with Verve Therapeutics, Inc. The company was incorporated in 2017 and is based in Cambridge, Massachusetts.