In Tuesday’s session, Beam Therapeutics Inc. (NASDAQ:BEAM) marked $29.57 per share, down from $30.13 in the previous session. While Beam Therapeutics Inc. has underperformed by -1.86%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, BEAM fell by -50.68%, with highs and lows ranging from $73.27 to $27.77, whereas the simple moving average fell by -36.69% in the last 200 days.
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On March 21, 2023, Bernstein started tracking Beam Therapeutics Inc. (NASDAQ: BEAM) recommending Mkt Perform. A report published by Cantor Fitzgerald on February 01, 2023, Initiated its previous ‘Overweight’ rating for BEAM. BMO Capital Markets also Upgraded BEAM shares as ‘Outperform’, setting a target price of $66 on the company’s shares in a report dated December 20, 2022. Citigroup Initiated an Buy rating on December 13, 2022, and assigned a price target of $62. BMO Capital Markets initiated its ‘Market Perform’ rating for BEAM, as published in its report on June 17, 2022. Credit Suisse’s report from April 28, 2022 suggests a price prediction of $62 for BEAM shares, giving the stock a ‘Neutral’ rating. Guggenheim also rated the stock as ‘Buy’.
Analysis of Beam Therapeutics Inc. (BEAM)
Further, the quarter-over-quarter decrease in sales is -60.90%, showing a negative trend in the upcoming months.
Beam Therapeutics Inc.’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of -37.60% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 4.90, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
The average volume for any stock is also a very valuable indicator of volatility, and BEAM has an average volume of 930.58K. On a monthly basis, the volatility of the stock is set at 5.77%, whereas on a weekly basis, it is put at 4.78%, with a loss of -1.96% over the past seven days. Furthermore, long-term investors anticipate a median target price of $69.14, showing growth from the present price of $29.57, which can serve as yet another indication of whether BEAM is worth investing in or should be passed over.
How Do You Analyze Beam Therapeutics Inc. Shares?
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.50%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 87.10% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in BEAM shares?
The recent increase in stakes in BEAM appears to be a result of several institutional investors and hedge funds increasing their positions. ARK Investment Management LLC’s position in BEAM has decreased by -3.27% in the first quarter. The company now owns 8,213,131 shares of the stock, with a value of $330.5 million, following the sale of -277,805 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in BEAM during the first quarter, upping its stake by 1.62%. During the last quarter, the company picked up 97,171 additional shares for a total stake of worth $245.87 million, bringing number of shares owned by the company to 6,110,070.
During the first quarter, BlackRock Fund Advisors added a 109,257 position in BEAM. Temasek Holdings Pte Ltd. purchased an additional 0.77 million shares in the last quarter, increasing its holdings by 26.62%, now holding 3.64 million shares worth $146.66 million. At the end of the first quarter, Farallon Capital Management LLC decreased its BEAM holdings by -6.37% and now holds 3.4 million BEAM shares valued at $136.81 million with the lessened -0.23 million shares during the period. BEAM shares are owned by institutional investors to the tune of 87.10% at present.
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