Beam Therapeutics Inc’s filing revealed that its Chief Medical Officer Simon Amy unloaded Company’s shares for reported $0.5 million on Apr 02 ’24. In the deal valued at $30.54 per share,16,530 shares were sold. As a result of this transaction, Simon Amy now holds 70,060 shares worth roughly $2.02 million.
Then, Evans John M. sold 18,102 shares, generating $581,617 in total proceeds. Upon selling the shares at $32.13, the CEO now owns 1,058,343 shares.
Before that, Simon Amy sold 7,157 shares. Beam Therapeutics Inc shares valued at $229,954 were divested by the Chief Medical Officer at a price of $32.13 per share. As a result of the transaction, Simon Amy now holds 86,590 shares, worth roughly $2.49 million.
JP Morgan upgraded its Beam Therapeutics Inc [BEAM] rating to an Overweight from a a Neutral in a research note published on January 29, 2024; the price target was increased to $40 from $38. A number of analysts have revised their coverage, including BofA Securities’s analysts, who decreased its forecast for the stock in mid December from “a Buy” to “a Neutral”. Jefferies also remained covering BEAM and has decreased its forecast on December 08, 2023 with a “Hold” recommendation from previously “Buy” rating. Leerink Partners revised its rating on October 20, 2023. It rated BEAM as “a Market perform” which previously was an “an Outperform”.
Price Performance Review of BEAM
On Monday, Beam Therapeutics Inc [NASDAQ:BEAM] saw its stock jump 2.16% to $28.81. Over the last five days, the stock has lost -11.79%. Beam Therapeutics Inc shares have risen nearly 5.84% since the year began. Nevertheless, the stocks have fallen -1.74% over the past one year. While a 52-week high of $49.50 was reached on 02/27/24, a 52-week low of $16.95 was recorded on 01/19/24. SMA at 50 days reached $32.87, while 200 days put it at $27.79. A total of 0.77 million shares were traded, compared to the trading of 1.17 million shares in the previous session.
Levels Of Support And Resistance For BEAM Stock
The 24-hour chart illustrates a support level at 28.26, which if violated will result in even more drops to 27.71. On the upside, there is a resistance level at 29.11. A further resistance level may holdings at 29.41. The Relative Strength Index (RSI) on the 14-day chart is 34.99, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.54, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 90.85%. Stochastics %K at 4.25% indicates the stock is a buying.
How much short interest is there in Beam Therapeutics Inc?
A steep rise in short interest was recorded in Beam Therapeutics Inc stocks on Mar 15, 2024, growing by 0.89 million shares to a total of 14.32 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 13.43 million shares. There was a rise of 6.22%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 22.23% of the overall stock float, the days-to-cover ratio (short ratio) rose to 8.36.
