Beam Therapeutics Inc (NASDAQ: BEAM)’s stock price has dropped by -1.19 in relation to previous closing price of 22.50. Nevertheless, the company has seen a gain of 0.64% in its stock price over the last five trading days. globenewswire.com reported 2024-10-29 that CAMBRIDGE, Mass., Oct. 29, 2024 (GLOBE NEWSWIRE) — Beam Therapeutics Inc. (Nasdaq: BEAM), a biotechnology company developing precision genetic medicines through base editing, today announced the company will host a conference call and webcast on Tuesday, November 5, 2024, at 8:30 a.m. ET to discuss its third quarter 2024 financial results and review the company’s abstracts accepted for presentation at the upcoming 66th Annual Meeting of the American Society for Hematology (ASH).
Is It Worth Investing in Beam Therapeutics Inc (NASDAQ: BEAM) Right Now?
The 36-month beta value for BEAM is at 1.85. Analysts have varying views on the stock, with 4 analysts rating it as a “buy,” 5 rating it as “overweight,” 8 as “hold,” and 0 as “sell.”
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The public float for BEAM is 71.66M, and currently, shorts hold a 15.57% of that float. The average trading volume for BEAM on October 31, 2024 was 842.48K shares.
BEAM’s Market Performance
The stock of Beam Therapeutics Inc (BEAM) has seen a 0.64% increase in the past week, with a -5.40% drop in the past month, and a -18.95% fall in the past quarter. The volatility ratio for the week is 3.98%, and the volatility levels for the past 30 days are at 4.74% for BEAM. The simple moving average for the past 20 days is -5.29% for BEAM’s stock, with a -16.91% simple moving average for the past 200 days.
Analysts’ Opinion of BEAM
H.C. Wainwright, on the other hand, stated in their research note that they expect to see BEAM reach a price target of $80. The rating they have provided for BEAM stocks is “Buy” according to the report published on July 23rd, 2024.
JP Morgan gave a rating of “Overweight” to BEAM, setting the target price at $40 in the report published on January 29th of the current year.
BEAM Trading at -8.78% from the 50-Day Moving Average
After a stumble in the market that brought BEAM to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -55.09% of loss for the given period.
Volatility was left at 4.74%, however, over the last 30 days, the volatility rate increased by 3.98%, as shares sank -2.42% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -12.18% lower at present.
During the last 5 trading sessions, BEAM rose by +1.34%, which changed the moving average for the period of 200-days by -7.23% in comparison to the 20-day moving average, which settled at $23.48. In addition, Beam Therapeutics Inc saw -18.33% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at BEAM starting from Ciaramella Giuseppe, who sale 51,110 shares at the price of $26.27 back on Oct 14 ’24. After this action, Ciaramella Giuseppe now owns 160,260 shares of Beam Therapeutics Inc, valued at $1,342,752 using the latest closing price.
Giuseppe Ciaramella, the Officer of Beam Therapeutics Inc, proposed sale 102,220 shares at $24.65 during a trade that took place back on Oct 14 ’24, which means that Giuseppe Ciaramella is holding shares at $2,519,723 based on the most recent closing price.
Stock Fundamentals for BEAM
Current profitability levels for the company are sitting at:
- -0.52 for the present operating margin
- 0.93 for the gross margin
The net margin for Beam Therapeutics Inc stands at -0.41. The total capital return value is set at -0.17. Equity return is now at value -17.17, with -10.94 for asset returns.
Based on Beam Therapeutics Inc (BEAM), the company’s capital structure generated 0.16 points at debt to capital in total, while cash flow to debt ratio is standing at -0.83. The debt to equity ratio resting at 0.19. The interest coverage ratio of the stock is -4.73.
Currently, EBITDA for the company is -156.47 million with net debt to EBITDA at 0.76. When we switch over and look at the enterprise to sales, we see a ratio of 4.83. The liquidity ratio also appears to be rather interesting for investors as it stands at 5.81.
Conclusion
In conclusion, Beam Therapeutics Inc (BEAM) has had a mixed performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
