In yesterday’s Wall Street session, Beam Therapeutics Inc. (NASDAQ:BEAM) shares traded at $28.25, down -0.91% from the previous session.
As of this writing, 15 analysts cover Beam Therapeutics Inc. (NASDAQ:BEAM). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $105.00 and a low of $32.00, we find $69.50. Given the previous closing price of $28.51, this indicates a potential upside of 143.77 percent. BEAM stock price is now -12.58% away from the 50-day moving average and -25.12% away from the 200-day moving average. The market capitalization of the company currently stands at $2.05B.
There are 4 analysts who have given it a hold rating, whereas 11 have given it a buy rating. Brokers who have rated the stock have averaged $69.43 as their price target over the next twelve months.
With the price target of $37, Bernstein recently initiated with Mkt Perform rating for Beam Therapeutics Inc. (NASDAQ: BEAM).
In other news, Ciaramella Giuseppe, President and CSO sold 1,206 shares of the company’s stock on Jul 24. The stock was sold for $38,604 at an average price of $32.01. Upon completion of the transaction, the President and CSO now directly owns 48,250 shares in the company, valued at $1.36 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 21, President and CSO Ciaramella Giuseppe sold 155,324 shares of the business’s stock. A total of $4,979,687 was realized by selling the stock at an average price of $32.06. This leaves the insider owning 48,250 shares of the company worth $1.36 million. Insiders disposed of 1,687,016 shares of company stock worth roughly $47.66 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 ECOR1 CAPITAL, LLC during the first quarter worth $5,610,000. TWINBEECH CAPITAL LP invested $3,610,000 in shares of BEAM during the first quarter. In the first quarter, QUBE RESEARCH & TECHNOLOGIES LTD acquired a new stake in Beam Therapeutics Inc. valued at approximately $3,237,000. TWO SIGMA INVESTMENTS, LP acquired a new stake in BEAM for approximately $1,732,000. UNIVERSITY OF TEXAS/TEXAS AM INVESTMENT MANAGMENT CO purchased a new stake in BEAM valued at around $1,690,000 in the second quarter.
Wednesday morning saw Beam Therapeutics Inc. (NASDAQ: BEAM) opened at $28.50. During the past 12 months, Beam Therapeutics Inc. has had a low of $28.50 and a high of $73.27. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 4.90, and a quick ratio of 4.90. The fifty day moving average price for BEAM is $32.19 and a two-hundred day moving average price translates $37.62 for the stock.
According to the Biotechnology Company, earnings per share came in at -$1.33, beating analysts’ expectations of -$1.34 by 0.01. This compares to -$1.01 EPS in the same period last year. The company reported revenue of $24.21 million for the quarter, compared to $8.43 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 187.1 percent. For the current quarter, analysts expect BEAM to generate $18.05M in revenue.
