Beam Therapeutics Inc. [BEAM] stock for 29,892 USD was sold by FMR LLC

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Beam Therapeutics Inc. shares valued at $29,892 were sold by FMR LLC on Sep 06. At $54.25 per share, FMR LLC sold 551 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.

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Also, FMR LLC sold 20,326 shares, netting a total of over 1,229,806 in proceeds. Following the sale of shares at $60.50 each, the insider now holds 0 shares.

Before that, Evans John M. had sold 20,000 shares from its account. In a trade valued at $1,315,559, the CEO traded Beam Therapeutics Inc. shares for $65.78 each. Upon closing the transaction, the insider’s holdings decreased to 20,000 shares, worth approximately $5.92 million.

As published in their initiating research note from BMO Capital Markets on June 17, 2022, Beam Therapeutics Inc. [BEAM] has been a Market perform and the price target has been revised to $41. This represents a -17.44% premium over Thursday’s closing price. Analysts at Credit Suisse started covering the stock with ‘”a Neutral”‘ outlook in a report released in late April. As of January 05, 2022, Guggenheim has initiated its “Buy” rating for BEAM. Earlier on October 19, 2021, SVB Leerink initiated its rating. Their recommendation was “an Outperform” for BEAM stock.

Analyzing BEAM’s Price Performance

On Thursday, Beam Therapeutics Inc. [NASDAQ: BEAM] plunged -6.72% to $48.15. The stock’s lowest price that day was $47.36, but it reached a high of $51.05 in the same session. During the last five days, there has been a drop of approximately -20.40%. Over the course of the year, Beam Therapeutics Inc. shares have dropped approximately -39.58%. Shares of the company reached a 52-week high of $82.62 on 01/04/22 and a 52-week low of $27.77 on 05/12/22. A 50-day SMA is recorded $59.37, while a 200-day SMA reached $56.66. Nevertheless, trading volume fell to 1.19 million shares from 0.84 million shares the previous day.

Support And Resistance Levels for Beam Therapeutics Inc. (BEAM)

According to the 24-hour chart, there is a support level at 46.66, which, if violated, would cause prices to drop to 45.16. In the upper region, resistance lies at 50.35. The next price resistance is at 52.54. RSI (Relative Strength Index) is 37.78 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.73, which suggests the price will decrease in the coming days. Percent R is at 94.37%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Beam Therapeutics Inc. subject to short interest?

Stocks of Beam Therapeutics Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 1.62 million shares to 13.24 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 11.62 million shares. A jump of 12.24% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 8.75 of the overall float, the days-to-cover ratio (short ratio) jumped to 8.75.

Which companies own the most shares of Beam Therapeutics Inc. (BEAM)?

According to ARK Investment Management LLC filings, the company currently owns 8,792,064 shares, which is about 12.50% of the total BEAM shares outstanding. The investor’s shares have appreciated by 591,315 from its previous 13-F filing of 8200749.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $278,036,905. BlackRock Fund Advisors acquire a 18.77% interest valued at $235.24 million while Temasek Holdings Pte Ltd. 0 stake. In its current portfolio, Redmile Group LLC holds 1,849,887 shares valued at $101.0 million.

In terms of Beam Therapeutics Inc. share price expectations, FactSet research, analysts set an average price target of $93.08 in the next 12 months, up nearly 70.48% from the previous closing price of $51.62. Analysts anticipate Beam Therapeutics Inc. stock to reach $145.00 by 2022, with the lowest price target being $60.00. In spite of this, 13 analysts ranked Beam Therapeutics Inc. stock as an Overweight at the end of 2022. On September 24, 2021, Stifel assigned a price target of “a Buy” to the stock and resumed coverage with a $120.


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