Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Beam Therapeutics Inc shares valued at $1,342,752 were sold by Ciaramella Giuseppe on Oct 14 ’24. At $26.27 per share, Ciaramella Giuseppe sold 51,110 shares. The insider’s holdings dropped to 160,260 shares worth approximately $3.51 million following the completion of this transaction.
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Also, Giuseppe Ciaramella purchased 102,220 shares, netting a total of over 2,519,723 in proceeds.
Before that, Burrell Terry-Ann had added 185,565 shares to its account. In a trade valued at $4,267,995, the Officer bought Beam Therapeutics Inc shares for $23.00 each.
As published in their initiating research note from Scotiabank on October 16, 2024, Beam Therapeutics Inc [BEAM] has been a Sector outperform. Analysts at H.C. Wainwright started covering the stock with ‘”a Buy”‘ outlook in a report released in late July. As of January 29, 2024, JP Morgan has increased its “Neutral” rating to a “an Overweight” for BEAM. Earlier on December 15, 2023, BofA Securities downgraded its rating. Their new recommendation was “a Neutral” for BEAM stock which previously was a “a Buy”.
Analyzing BEAM Stock Performance
During the last five days, there has been a drop of approximately -0.81%. Over the course of the year, Beam Therapeutics Inc shares have dropped approximately -19.51%. Shares of the company reached a 52-week high of $49.50 on 02/27/24 and a 52-week low of $20.84 on 04/25/24. A 50-day SMA is recorded $24.36, while a 200-day SMA reached $26.76. Nevertheless, trading volume fell to 1.12 million shares from 0.85 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 21.64, which, if violated, would cause prices to drop to 21.37. In the upper region, resistance lies at 22.40. The next price resistance is at 22.88. RSI (Relative Strength Index) is 40.13 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.23, which suggests the price will decrease in the coming days. Percent R is at 87.67%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
