BofA update shows where active managers are putting money
The sales were executed under a pre-established Rule 10b5-1 trading plan, which Giuseppe adopted on May 23, 2023. Following this transaction, Giuseppe holds 190,216 shares of Beam Therapeutics. The stock was sold in multiple transactions, with prices ranging from $17.76 to $18.38. According to InvestingPro analysis, BEAM currently appears undervalued, with analysts maintaining a strong buy consensus and price targets ranging from $20 to $80. The company maintains a "Fair" financial health score, with detailed metrics and additional ProTips available through the comprehensive Pro Research Report. According to InvestingPro analysis, BEAM currently appears undervalued, with analysts maintaining a strong buy consensus and price targets ranging from $20 to $80. The company maintains a "Fair" financial health score, with detailed metrics and additional ProTips available through the comprehensive Pro Research Report.
The sales were executed under a pre-established Rule 10b5-1 trading plan, which Giuseppe adopted on May 23, 2023. Following this transaction, Giuseppe holds 190,216 shares of Beam Therapeutics. The stock was sold in multiple transactions, with prices ranging from $17.76 to $18.38.
In other recent news, Beam Therapeutics Inc has reported several significant developments. The company announced positive data from their BEAM-302 trial, which has shown promising results in treating Alpha-1 Antitrypsin Deficiency (AATD), a genetic disorder affecting the lungs and liver. The trial demonstrated dose-dependent increases in total serum Alpha-1 Antitrypsin levels, with the highest dose exceeding the protective therapeutic threshold. Following these results, Beam Therapeutics received approval from the United States Food and Drug Administration (FDA) for their investigational new drug application for BEAM-302, allowing further advancement in its development.
Analysts have responded favorably to these developments, with BofA Securities upgrading Beam Therapeutics’ stock rating to Buy and setting a price target of $42. Citi analyst Samantha Semenkow also raised the price target to $64, citing the increased probability of success for BEAM-302. Bernstein SocGen Group maintained its Outperform rating and a $37 price target, reflecting confidence in the company’s prospects despite challenges. The positive trial outcomes have also led to a $500 million follow-on offering, expected to extend Beam Therapeutics’ cash runway into 2028. As the company progresses, investors will be closely monitoring Beam’s ability to meet expectations and continue advancing its therapeutic pipeline.
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