Beam Therapeutics Inc. [NASDAQ: BEAM] closed the trading session at $89.77 on 01/27/21. The day’s price range saw the stock hit a low of $89.00, while the highest price level was $103.29. The company report on January 19, 2021 that Beam Therapeutics Inc. Announces $260 Million Common Stock Investment from Multiple Investors.
Beam Therapeutics Inc. (Nasdaq: BEAM), a biotechnology company developing precision genetic medicines through base editing, announced that it has agreed to sell 2,795,700 shares of its common stock to certain institutional investors in a private placement. The Company anticipates aggregate gross proceeds from the offering will be approximately $260 million, before deducting fees to the placement agents and other estimated offering expenses payable by the Company, based on the offering price of $93.00 per share, representing an approximately 10% discount to the 5-day volume weighted average share price. The financing syndicate includes Perceptive Advisors, Farallon Capital, Casdin Capital, Redmile Group and Cormorant Asset Management, among others. The closing is anticipated to occur on January 21, 2021, subject to customary closing conditions. The Company intends to use the net proceeds from the offering to support clinical development, to pursue strategic partnerships and general corporate purposes.
J.P. Morgan acted as lead placement agent and William Blair acted as joint placement agent.
The stocks have a year to date performance of 9.96 percent and weekly performance of -17.56 percent. The stock has been moved at 317.34 percent over the last six months. The stock has performed -0.97 percent around the most recent 30 days and changed 136.92 percent over the most recent 3-months.
If compared to the average trading volume of 876.55K shares, BEAM reached to a volume of 1396886 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Beam Therapeutics Inc. [BEAM]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BEAM shares is $59.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BEAM stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Stifel have made an estimate for Beam Therapeutics Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 06, 2021. The new note on the price target was released on August 05, 2020, representing the official price target for Beam Therapeutics Inc. stock. Previously, the target price had yet another raise to $32, while Wedbush analysts kept a Outperform rating on BEAM stock.
The Average True Range (ATR) for Beam Therapeutics Inc. is set at 11.00, with the Price to Sales ratio for BEAM stock in the period of the last 12 months amounting to 203403.85. The Price to Book ratio for the last quarter was 22.50, with the Price to Cash per share for the same quarter was set at 3.72.
BEAM stock trade performance evaluation
Beam Therapeutics Inc. [BEAM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.56. With this latest performance, BEAM shares dropped by -0.97% in over the last four-week period, additionally plugging by 317.34% over the last 6 months.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BEAM stock in for the last two-week period is set at 49.42, with the RSI for the last a single of trading hit 43.75, and the three-weeks RSI is set at 53.14 for Beam Therapeutics Inc. [BEAM]. The present Moving Average for the last 50 days of trading for this stock 74.76, while it was recorded at 97.34 for the last single week of trading, and 37.70 for the last 200 days.
Beam Therapeutics Inc. [BEAM]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Beam Therapeutics Inc. [BEAM] shares currently have an operating margin of -417522.22. Beam Therapeutics Inc.’s Net Margin is presently recorded at -435144.44.
Return on Total Capital for BEAM is now -56.46, given the latest momentum, and Return on Invested Capital for the company is -60.12. Return on Equity for this stock declined to -66.67, with Return on Assets sitting at -48.48. When it comes to the capital structure of this company, Beam Therapeutics Inc. [BEAM] has a Total Debt to Total Equity ratio set at 30.95. Additionally, BEAM Total Debt to Total Capital is recorded at 23.63, with Total Debt to Total Assets ending up at 20.01.
Reflecting on the efficiency of the workforce at the company, Beam Therapeutics Inc. [BEAM] managed to generate an average of -$663,780 per employee.Beam Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.40 and a Current Ratio set at 4.40.
Earnings per share (EPS) analysis for Beam Therapeutics Inc. [BEAM] stock
With the latest financial reports released by the company, Beam Therapeutics Inc. posted -4.47/share EPS, while the average EPS was predicted by analysts to be reported at -0.52/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -759.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BEAM.
Beam Therapeutics Inc. [BEAM]: Insider Ownership positions
There are presently around $2,603 million, or 66.00% of BEAM stock, in the hands of institutional investors. The top three institutional holders of BEAM stocks are: FMR LLC with ownership of 7,328,586, which is approximately 5.116% of the company’s market cap and around 1.70% of the total institutional ownership; TEMASEK HOLDINGS (PRIVATE) LTD, holding 3,354,641 shares of the stock with an approximate value of $301.15 million in BEAM stocks shares; and REDMILE GROUP, LLC, currently with $298.69 million in BEAM stock with ownership of nearly -0.885% of the company’s market capitalization.
Positions in Beam Therapeutics Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 59 institutional holders increased their position in Beam Therapeutics Inc. [NASDAQ:BEAM] by around 4,345,714 shares. Additionally, 23 investors decreased positions by around 2,392,494 shares, while 20 investors held positions by with 22,253,601 shares. The mentioned changes placed institutional holdings at 28,991,809 shares, according to the latest SEC report filing. BEAM stock had 26 new institutional investments in for a total of 490,717 shares, while 12 institutional investors sold positions of 1,506,138 shares during the same period.