Beam Therapeutics Inc. (NASDAQ:BEAM) finished Friday with an addition of $0.15 to close at $25.55, an upside of 0.59 percent. An average of 978,020 shares of common stock have been traded in the last five days. There was a fall of -$1.57 in the past week, and it reached a new high 2 times over the past 12 months. The last 20 days have seen an average of 905,325 shares traded, while the 50-day average volume stands at 843,026.
BEAM stock has decreased by -20.38% in the last month. The company shares reached their 1-month lowest point of $25.01 on 08/08/23. With the stock rallying to its 52-week high on 02/02/23, shares of the company touched a low of $25.01 and a high of $73.27 in 52 weeks. It has reached a new high 9 times so far this year and lost -34.67% or -$13.56 in price. In spite of this, the price is down -65.13% from the 52-week high.
Insider Transactions
BEAM stock investors should be aware that Beam Therapeutics Inc. (BEAM) stock had its last reported insider trading activity 19 days ago on Jul 24. In this transaction, the insider spent $38,604. President and CSO, Ciaramella Giuseppe, disposed of 155,324 shares at a price of $32.06 on Jul 21. The insider now owns more than $4,979,687 worth of shares. Prior to that, Chief Medical Officer Simon Amy went on to Sale 391 shares at $30.48 each on Jul 10. An amount of $11,918 was transacted.
Valuation Metrics
Beam Therapeutics Inc. (BEAM) stock’s beta is 1.60. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 25.46, the price-to-book (PB) ratio at 2.42.
Financial Health
The quick ratio of Beam Therapeutics Inc. for the three months ended June 29 was 4.90, and the current ratio was 4.90, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending June 29. Beam Therapeutics Inc.’s EBITDA margin for the year ending June 29 is -518.55%. Its gross profit as reported stood at $399.4 million compared to revenue of $60.92 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Beam Therapeutics Inc.’s return on assets was -23.20%.
Earnings Surprise
For the three-month period that ended June 29, Beam Therapeutics Inc. had $847.47 million in cash. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$82.78 million in the quarter, while revenues of -$96.46 million were grew 13.08%. The analyst consensus anticipated Beam Therapeutics Inc.’s latest quarter earnings to come in at -$1.42 per share, but it turned out to be -$1.08, a 23.90% surprise. For the quarter, EBITDA amounted to -$104.91 million. Shareholders own equity worth $79.2 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Beam Therapeutics Inc. (BEAM) price momentum. RSI 9-day as of the close on 11 August was 27.61%, suggesting the stock is oversold, with historical volatility in this time frame at 47.33%.
As of today, BEAM’s price is $25.77 -5.79% or -$1.57 from its 5-day moving average. BEAM is currently trading -17.21% lower than its 20-day SMA and -20.73% lower than its 100-day SMA. However, the stock’s current price level is -19.91% below the SMA50 and -41.33% below the SMA200.
The stochastic %K and %D were 8.30% and 10.18%, respectively, and the average true range (ATR) was 1.31. With the 14-day stochastic at 6.63% and the average true range at 1.32, the RSI (14) stands at 30.76%. The stock has reached -0.97 on the 9-day MACD Oscillator while the 14-day reading was at -2.64.
Analyst Ratings
Bernstein launched coverage on Beam Therapeutics Inc. (NASDAQ: BEAM) in its analyst report released on March 21, 2023. The firm assigned the stock a Mkt perform rating. The consensus rating for Beam Therapeutics Inc. (BEAM) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell BEAM, while 5 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 11 others rate it as a “buy”.
What is BEAM’s price target for the next 12 months?
Analysts predict a range of price targets between $32.00 and $105.00, with a median target of $66.00. Taking a look at these predictions, the average price target given by analysts for Beam Therapeutics Inc. (BEAM) stock is $65.33.
