At the time of writing, Beam Therapeutics Inc [BEAM] stock is trading at $35.80, up 5.33%. An important factor to consider is whether the stock is rising or falling in short-term value. The BEAM shares have gain 8.81% over the last week, with a monthly amount glided 43.66%, and seem to be holding up well over a long-time horizon.
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On 5, February 2024, Beam Therapeutics to Participate in the Guggenheim Healthcare Talks 6th Annual Biotechnology Conference. In a post published today on Yahoo Finance, Beam Therapeutics Inc. (Nasdaq: BEAM), a biotechnology company developing precision genetic medicines through base editing, today announced that management will participate in a fireside chat at the Guggenheim Healthcare Talks 6th Annual Biotechnology Conference on Thursday, February 8, 2024 at 10:30 a.m. ET in New York.
From an analyst’s perspective:
Beam Therapeutics Inc [NASDAQ: BEAM] stock has seen the most recent analyst activity on January 29, 2024, when JP Morgan upgraded its rating to a Overweight and also boosted its price target to $40 from $38. Previously, BofA Securities downgraded its rating to Neutral on December 15, 2023, and kept the price target unchanged to $35. On December 08, 2023, downgrade downgraded it’s rating to Hold and revised its price target to $30 on the stock. Leerink Partners downgraded its rating to a Market Perform and decreased its price target to $20 on October 20, 2023. Cantor Fitzgerald downgraded its rating to a Neutral. Bernstein started tracking with a Mkt Perform rating for this stock on March 21, 2023, and assigned it a price target of $37. In a note dated February 01, 2023, Cantor Fitzgerald initiated an Overweight rating and provided a target price of $62 on this stock.
For the past year, the stock price of Beam Therapeutics Inc fluctuated between $16.95 and $41.07. Currently, Wall Street analysts expect the stock to reach $63 within the next 12 months. Beam Therapeutics Inc [NASDAQ: BEAM] shares were valued at $35.80 at the most recent close of the market. An investor can expect a potential return of 75.98% based on the average BEAM price forecast.
Analyzing the BEAM fundamentals
According to Beam Therapeutics Inc [NASDAQ:BEAM], the company’s sales were 81.55M for trailing twelve months, which represents an 8.82% jump. Gross Profit Margin for this corporation currently stands at -0.03% with Operating Profit Margin at -0.22%, Pretax Profit Margin comes in at -0.24%, and Net Profit Margin reading is -0.51%. To continue investigating profitability, this company’s Return on Assets is posted at -1.53, Equity is -2.61 and Total Capital is -22.65. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of-6.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 34.38 points at the first support level, and at 32.96 for the second support level. However, for the 1st resistance point, the stock is sitting at 36.62, and for the 2nd resistance point, it is at 37.44.
Beam Therapeutics Inc [BEAM] reported earnings per share of -$1.22 for its fiscal quarter that ended on 9/29/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$1.36/share, meaning a difference of $0.14 and a surprise factor of 10.30%. By comparison, the stated earnings for the previous quarter ended on 6/29/2023 were -$1.08 per share as compared to estimates of -$1.42 per share, a difference of $0.34 representing a surprise of 23.90%.
Ratios To Look Out For
It is important to note that Beam Therapeutics Inc [NASDAQ:BEAM] has a current ratio of 4.72. On the other hand, the Quick Ratio is 4.72, and the Cash Ratio is 0.05. Considering the valuation of this stock, the price to sales ratio is 35.78, the price to book ratio is 3.65.
Transactions by insiders
The next item on our agenda is insider trading, which has seen 0 insider purchases totaling 0 shares and 1 insider sales totaling 29,549 shares over the past 3 months. Recent insider trading involved FMR LLC, See Remark 1, that happened on Feb 14 when 0.9 million shares were sold. See Remark 1, FMR LLC completed a deal on Feb 13 to sell 1565.0 shares. Meanwhile, CEO Evans John M. sold 60000.0 shares on Jan 31.
