The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Beam Therapeutics Inc shares valued at $240,065 were purchased by BETHANY J. CAVANAGH on Dec 31 ’24. At $25.27 per share, BETHANY J. CAVANAGH acquired 9,500 shares.
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Also, CHRISTINE BELLON purchased 4,167 shares, netting a total of over 105,300 in proceeds.
Before that, Ciaramella Giuseppe had sold 51,110 shares from its account. In a trade valued at $1,347,050, the President traded Beam Therapeutics Inc shares for $26.36 each. Upon closing the transaction, the insider’s holdings decreased to 51,110 shares, worth approximately $2.7 million.
As published in a research note from Leerink Partners on November 06, 2024, Beam Therapeutics Inc [BEAM] has been rated up from a Market perform to an Outperform and the price target has been revised to $39 from $27. Analysts at Scotiabank started covering the stock with ‘”a Sector outperform”‘ outlook in a report released in mid October. As of July 23, 2024, H.C. Wainwright has initiated its “Buy” rating for BEAM. Earlier on January 29, 2024, JP Morgan upgraded its rating. Their new recommendation was “an Overweight” for BEAM stock which previously was a “a Neutral”.
Analyzing BEAM Stock Performance
During the last five days, there has been a drop of approximately -14.27%. Over the course of the year, Beam Therapeutics Inc shares have dropped approximately -0.40%. Shares of the company reached a 52-week high of $25.01 on 01/02/25 and a 52-week low of $24.18 on 01/02/25. A 50-day SMA is recorded $25.92, while a 200-day SMA reached $25.66. Nevertheless, trading volume fell to 1.19 million shares from 0.88 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 24.25, which, if violated, would cause prices to drop to 23.80. In the upper region, resistance lies at 25.08. The next price resistance is at 25.47. RSI (Relative Strength Index) is 41.30 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.46, which suggests the price will decrease in the coming days. Percent R is at 90.29%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
