Beam Therapeutics Inc (NASDAQ: BEAM) stock jumped 10.81% on Friday to $27.47 against a previous-day closing price of $24.79. With 2.56 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.15 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $27.91 whereas the lowest price it dropped to was $24.87. The 52-week range on BEAM shows that it touched its highest point at $51.60 and its lowest point at $16.95 during that stretch. It currently has a 1-year price target of $49.67. Beta for the stock currently stands at 1.61.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BEAM was up-trending over the past week, with a rise of 23.96%, but this was up by 49.62% over a month. Three-month performance surged to 15.91% while six-month performance fell -20.47%. The stock lost -42.52% in the past year, while it has lost -29.76% so far this year. A look at the trailing 12-month EPS for BEAM yields -4.18 with Next year EPS estimates of -4.70. For the next quarter, that number is -0.59. This implies an EPS growth rate of -1.79% for this year and -11.84% for next year. EPS is expected to grow by 4.10% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -84.16%.
Float and Shares Shorts:
At present, 71.28 million BEAM shares are outstanding with a float of 68.49 million shares on hand for trading. On Oct 30, 2023, short shares totaled 14.45 million, which was 17.80% higher than short shares on Sep 28, 2023. In addition to Mr. John M. Evans M.B.A. as the firm’s CEO & Director, Dr. Giuseppe Ciaramella Ph.D. serves as its President.
Other institutions hold 44.46% of BEAM, in contrast to 32.90% held by mutual funds. Shares owned by individuals account for 16.64%. As the largest shareholder in BEAM with 11.09% of the stake, ARK Investment Management LLC holds 8,783,891 shares worth 8,783,891. A second-largest stockholder of BEAM, The Vanguard Group, Inc., holds 6,620,999 shares, controlling over 8.36% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in BEAM, holding 5,343,619 shares or 6.75% stake. With a 7.86% stake in BEAM, the ARK Innovation ETF is the largest stakeholder. A total of 6,228,075 shares are owned by the mutual fund manager. The SPDR S&P Biotech ETF, which owns about 3.73% of BEAM stock, is the second-largest Mutual Fund holder. It holds 2,957,573 shares valued at 62.52 million. ARK Genomic Revolution ETF holds 2.96% of the stake in BEAM, owning 2,340,793 shares worth 49.48 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BEAM since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With BEAM analysts setting a high price target of $95.00 and a low target of $19.00, the average target price over the next 12 months is $49.67. Based on these targets, BEAM could surge 245.83% to reach the target high and fall by -30.83% to reach the target low. Reaching the average price target will result in a growth of 80.82% from current levels.
Summary of Insider Activity:
Insiders traded BEAM stock several times over the past three months with 0 Buys and 2 Sells. In these transactions, 0 shares were bought while 3,836 shares were sold. The number of buy transactions has increased to 20 while that of sell transactions has risen to 28 over the past year. The total number of shares bought during that period was 341,624 while 408,343 shares were sold.