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Beam Therapeutics Stock (NASDAQ:BEAM), Trade Ideas

Beam Inc.

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Beam Therapeutics

Beam Therapeutics Inc is a biotechnology company engaged in creating genetic medicines based on its base editing technology. This technology enables a new class of genetic medicines that targets a single base in the genome without making a double-stranded break in the DNA. The company's portfolio comprises Gene Correction, Gene Modification, Gene Activation, Gene Silencing, and Multiplex Editing. The company's pipeline programs consist of BEAM-101, ESCAPE, BEAM-302, BEAM-301, and BEAM-201.

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Popular pseudonymous crypto analyst Altcoin Sherpa on Friday shared his insights on three altcoins: Beam (CRYPTO: BEAM), Arbitrum (CRYPTO: ARB), and Render (CRYPTO: 

Popular Crypto Trader Shares 2024 Predictions For These Three Altcoins

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VERV

Verve Therapeutics&#39; latest update on the Heart-1 Phase 1b trial of VERVE-101. Explore VERVE-102&#39;s development and regulatory clearances for the Heart-2 clinical trial, offering hope for patients with cardiovascular conditions.

Gene Therapy Side Effects: Verve Therapeutics Halts Enrollment Of Lead Gene Therapy Trial In Patients With Bad Cholesterol

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Shares of  Helix Energy Solutions Group, Inc. (NYSE: HLX) fell sharply during Tuesday’s session following weak earnings.

Why Helix Energy Solutions Shares Are Trading Lower By 11%? Here Are Other Stocks Moving In Tuesday&#39;s Mid-Day Session

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Popular pseudonymous crypto analyst Altcoin Sherpa on Friday shared his insights <a href="https://www.benzinga.com/money/best-altcoins">on three altcoins</a>: Beam (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/beam/usd">BEAM</a>), Arbitrum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">ARB</a>), and Render (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">RNDR</a>). 
BEAM: A Bullish Bet On Crypto Gaming
Altcoin Sherpa expressed a &#8220;hugely bullish&#8221; sentiment on BEAM, describing it as a significant, indexed bet on the cryptocurrency gaming sector for the current cycle. 
Despite its recent period of stagnation, the analyst remains committed to holding BEAM, viewing it not as a short-term trade but as a long-term hold. 
&#8220;It&#8217;s just chilling the last several weeks. Still hugely bullish on this coin and it&#8217;s still an indexed bet on crypto gaming for this cycle. Going to just keep hodling, not a trade,&#8221; he <a href="https://twitter.com/AltcoinSherpa/status/1778422633983299635">tweeted</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></a></figure>
Arbitrum Faces Challenges
The outlook for Arbitrum was less favorable, with Altcoin Sherpa predicting a potential decline in its price to $1.20 or lower.
The loss of the 200-day exponential moving average (EMA) was highlighted as a concerning technical development, possibly indicative of a larger retracement. 
The analyst suggested a period of consolidation might be beneficial for ARB before any significant price recovery could occur. 
&#8220;ARB: nasty price moves. I think this one looks like it's going to head to $1.20 or lower. I would like to see it consolidate and chill for a bit before forming a bottom,&#8221; Altcoin Sherpa <a href="https://twitter.com/AltcoinSherpa/status/1778398980793135452">explained</a>.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38219730/hong-kong-poised-to-approve-spot-bitcoin-and-spot-ether-etfs-report">Hong Kong Poised To Approve Spot Bitcoin And Spot Ether ETFs: Report</a>
Render Poised For Recovery
Regarding Render, Altcoin Sherpa <a href="https://twitter.com/AltcoinSherpa/status/1778054975773429942">advised </a>traders to use Fibonacci retracements to gauge potential buy-in points, particularly focusing on the .382 and .50 levels. 
Although expecting a possible drop to around $7.50, the analyst remains optimistic about Render&#8217;s prospects going into 2024. 
&#8220;RNDR: you can now fib out the entire range and wait for the .382 and .50 fibs. 
Strong coins like RNDR probably bounce a bit lower, aiming for the $7.50 level. Still bullish on this one though for 2024,&#8221; he noted.
Implications For The Future Of Digital Assets
These analyses are particularly timely as the cryptocurrency community looks ahead to Benzinga&#8217;s <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> conference on Nov. 19. 
The event will likely explore the varying trajectories of gaming tokens like BEAM, as well as infrastructure projects like Arbitrum and creative industry tokens like Render. 
Discussions will delve into how these assets are shaping the broader landscape of <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38210187/ark-invest-bitcoin-bull-run-in-the-early-to-middle-stages">blockchain and digital currencies.</a>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38219115/meme-coins-could-be-the-secret-weapon-for-web3-adoption-says-pantera-capital-investor">Meme Coins Could Be The Secret Weapon For Web3 Adoption, Says Pantera Capital Investor</a>
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WIIM

Beam Therapeutics shares are trading lower after Verve Therapeutics paused enrollment in its Heart-1 clinical trial. Verve and Beam previously entered a license agreement for access to Beam's base editing, gene editing, and delivery technologies.

Verve Therapeutics Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERV#NASDAQ">VERV</a>) announced an update from the Heart-1 Phase 1b&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/g38041437/verve-therapeutics-announces-updates-on-its-pcsk9-program" rel="noreferrer noopener">trial of VERVE-101</a>.
VERVE-101 is being evaluated in patients with a genetic condition that leads to high cholesterol levels, which raises the risk of heart disease. The treatment is supposed to permanently turn off a protein called PCSK9, which helps reduce blood cholesterol levels.
The company said that one of the six patients treated with a 0.45-mg/kg dose of VERVE-101 experienced grade 3 increases in a particular liver enzyme and a grade 3 case of thrombocytopenia (low blood platelets).&nbsp;
The participant did not experience any bleeding or other symptoms related to the laboratory abnormalities, which resolved fully within a few days.
Related:&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/23/11/35745412/verve-therapeutic-provides-first-look-at-gene-editing-drug-for-inherited-high-bad-cholesterol-sha" rel="noreferrer noopener">Verve Therapeutic Provides First Look At Gene-Editing Drug For Inherited High &#8216;Bad&#8217; Cholesterol, Shares Fall</a>.
In consultation with the study&#8217;s independent data and safety monitoring board (DSMB), Verve has decided to pause enrollment in the Heart-1 clinical trial.&nbsp;
Verve is investigating the laboratory abnormalities and expects to work with regulatory authorities to define a path forward for VERVE-101 based on those results.&nbsp;
Verve is now prioritizing the development of VERVE-102 and the initiation of the Heart-2 clinical trial.&nbsp;
VERVE-102 uses the same base editor and guide RNA for PCSK9 but a different lipid nanoparticle (LNP) delivery system than VERVE-101.&nbsp;
Verve has received regulatory clearances for the Heart-2 clinical trial in the U.K. and Canada. It plans to initiate the Heart-2 clinical trial in patients with HeFH or premature coronary artery disease in the second quarter of 2024.
VERVE-101 is a novel, investigational gene editing medicine designed to be a single-course treatment that permanently turns off the PCSK9 gene in the liver to reduce disease-driving low-density lipoprotein cholesterol.
Verve and&nbsp;Beam Therapeutics Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEAM#NASDAQ">BEAM</a>)&nbsp;<a target="_blank" href="https://www.sec.gov/Archives/edgar/data/1745999/000156459021001028/beam-8k_20210112.htm" rel="noreferrer noopener">entered</a>&nbsp;into a collaboration and license agreement in April 2019, under which Verve received exclusive access to Beam&#8217;s base editing, gene editing, and delivery technologies for human therapeutic applications against certain cardiovascular targets.
In October 2023, Verve announced the expansion of its relationship with&nbsp;Eli Lilly And Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), which has acquired from Beam Therapeutics certain product rights to Verve&#8217;s cardiovascular in vivo gene editing programs targeting PCSK9 and ANGPTL3, as well as a third undisclosed&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/10/35512455/why-beam-therapeutics-stock-is-getting-bought-today" rel="noreferrer noopener">cardiovascular disease target</a>.
Price Action: VERV stock is down 36.0% at $8.18, and BEAM shares are down 7.37% at $30.29 on the last check Tuesday.
Photo via Wikimedia Commons

In the last three months, 4 analysts have published ratings on Beam Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEAM#NASDAQ">BEAM</a>), offering a diverse range of perspectives from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $43.5, along with a high estimate of $57.00 and a low estimate of $35.00. This upward trend is apparent, with the current average reflecting a 43.42% increase from the previous average price target of $30.33.
<img src="https://www.benzinga.com/files/images/story/2024/1711551657_0_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
The standing of Beam Therapeutics among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Kostas Biliouris</td>
<td>BMO Capital</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$57.00</td>
<td>-</td>
</tr>
<tr>
<td>Gena Wang</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$42.00</td>
<td>$26.00</td>
</tr>
<tr>
<td>Luca Issi</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$35.00</td>
<td>$27.00</td>
</tr>
<tr>
<td>Eric Joseph</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$40.00</td>
<td>$38.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Beam Therapeutics. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Beam Therapeutics compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for Beam Therapeutics's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Beam Therapeutics's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/BEAM/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Beam Therapeutics analyst ratings.</a>
<h2>Get to Know Beam Therapeutics Better</h2>
Beam Therapeutics Inc is a biotechnology company engaged in creating genetic medicines based on its base editing technology. This technology enables a new class of genetic medicines that targets a single base in the genome without making a double-stranded break in the DNA. The company's portfolio comprises Gene Correction, Gene Modification, Gene Activation, Gene Silencing, and Multiplex Editing. The company's pipeline programs consist of BEAM-101, ESCAPE, BEAM-302, BEAM-301, and BEAM-201.
<h3>Understanding the Numbers: Beam Therapeutics's Finances</h3>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: Beam Therapeutics displayed positive results in 3 months. As of 31 December, 2023, the company achieved a solid revenue growth rate of approximately 1478.04%. This indicates a notable increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Health Care sector.
Net Margin: Beam Therapeutics's net margin excels beyond industry benchmarks, reaching 45.16%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Beam Therapeutics's ROE stands out, surpassing industry averages. With an impressive ROE of 16.22%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Beam Therapeutics's ROA stands out, surpassing industry averages. With an impressive ROA of 10.38%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.18.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

Expert Outlook: Beam Therapeutics Through The Eyes Of 4 Analysts

BMO Capital analyst Kostas Biliouris maintains Beam Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEAM#NASDAQ">BEAM</a>) with a Outperform and maintains $57 price target.

Price Target

BMO Capital Maintains Outperform on Beam Therapeutics, Maintains $57 Price Target

<a href="https://www.globenewswire.com/Tracker?data=LW-O7TFFE4Z_MtBz9JMPPMxX2jGY2D2Mopl3ekUPVgKayx_2p-ua67QwYX0KCsVRgXAVniAuxGJIy3gtyF3r2e1y2eZnMm4RLRqoC1g56mU=" target="_blank">Beam Therapeutics Inc.</a>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEAM#NASDAQ">BEAM</a>), a biotechnology company developing precision genetic medicines through base editing, today announced the clearance of its clinical trial authorisation (CTA) application by the United Kingdom (UK) Medicines and Healthcare Products Regulatory Agency for BEAM-302, an&nbsp;in vivo&nbsp;base editor, as a potential treatment for patients with alpha-1 antitrypsin deficiency (AATD).

Government

Regulations

Beam Therapeutics Announces Clearance of Clinical Trial Authorisation Application for BEAM-302 for the Treatment of Alpha-1 Antitrypsin Deficiency (AATD)

Beam Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEAM#NASDAQ">BEAM</a>) has been analyzed by 4 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $35.0, a high estimate of $40.00, and a low estimate of $30.00. A 25.01% drop is evident in the current average compared to the previous average price target of $46.67. 
<img src="https://www.benzinga.com/files/images/story/2024/1709132420_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
The analysis of recent analyst actions sheds light on the perception of Beam Therapeutics by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Luca Issi</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$35.00</td>
<td>$27.00</td>
</tr>
<tr>
<td>Eric Joseph</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$40.00</td>
<td>$38.00</td>
</tr>
<tr>
<td>Greg Harrison</td>
<td>B of A Securities</td>
<td>Announces</td>
<td>Neutral</td>
<td>$35.00</td>
<td>-</td>
</tr>
<tr>
<td>Michael Yee</td>
<td>Jefferies</td>
<td>Lowers</td>
<td>Hold</td>
<td>$30.00</td>
<td>$75.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Beam Therapeutics. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Beam Therapeutics compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Beam Therapeutics's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
To gain a panoramic view of Beam Therapeutics's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/BEAM/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Beam Therapeutics analyst ratings.</a>
<h2>About Beam Therapeutics</h2>
Beam Therapeutics Inc is a biotechnology company engaged in creating genetic medicines based on its base editing technology. This technology enables a new class of genetic medicines that targets a single base in the genome without making a double-stranded break in the DNA. The company's portfolio comprises Gene Correction, Gene Modification, Gene Activation, Gene Silencing, and Multiplex Editing.
<h3>Unraveling the Financial Story of Beam Therapeutics</h3>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Positive Revenue Trend: Examining Beam Therapeutics's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 8.82% as of 30 September, 2023, showcasing a substantial increase in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Health Care sector.
Net Margin: Beam Therapeutics's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of -558.88%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Beam Therapeutics's ROE stands out, surpassing industry averages. With an impressive ROE of -12.08%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Beam Therapeutics's ROA excels beyond industry benchmarks, reaching -7.27%. This signifies efficient management of assets and strong financial health.
Debt Management: Beam Therapeutics's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.22.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Navigating 4 Analyst Ratings For Beam Therapeutics

RBC Capital analyst Luca Issi maintains Beam Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEAM#NASDAQ">BEAM</a>) with a Sector Perform and raises the price target from $27 to $35.

RBC Capital Maintains Sector Perform on Beam Therapeutics, Raises Price Target to $35

Shares of Helix Energy Solutions Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hlx#NYSE">HLX</a>) fell sharply during Tuesday&rsquo;s session following weak earnings.
Helix Energy posted adjusted earnings of 6 cents per share, missing market estimates of 10 cents per share. The company&rsquo;s quarterly sales came in at $335.16 million versus expectations of $315.60 million.
Helix Energy Solutions shares dipped 11% to $9.13 on Tuesday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>Janux Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/janx#NASDAQ">JANX</a>) shares jumped 145% to $37.00 after the company announced updated clinical data for both of its clinical programs.</li>
<li>Presto Automation Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/prst#NASDAQ">PRST</a>) surged 72% to $0.5657.</li>
<li>Viking Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vktx#NASDAQ">VKTX</a>) shares jumped 71.2% to $65.88 after the company announced the Phase 2 VENTURE trial successfully achieved its primary endpoint and all secondary endpoints.</li>
<li>CXApp Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cxai#NASDAQ">CXAI</a>) gained 67% to $2.58.</li>
<li>WeTrade Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wetg#NASDAQ">WETG</a>) gained 50% to $3.36.</li>
<li>Hims &amp; Hers Health, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hims#NYSE">HIMS</a>) climbed 33.6% to $13.70 after the company reported better-than-expected fourth-quarter financial results and issued strong guidance.</li>
<li>Biora Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bior#NASDAQ">BIOR</a>) surged 32.2% to $1.39.</li>
<li>AdaptHealth Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ahco#NASDAQ">AHCO</a>) jumped 29.6% to $9.89 following fourth-quarter results.</li>
<li>Codexis, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cdxs#NASDAQ">CDXS</a>) rose 29% to $4.1283. Codexis entered into exclusive licensing agreement with Roche for double-stranded DNA Ligase.</li>
<li>Beam Therapeutics Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/beam#NASDAQ">BEAM</a>) gained 26.8% to $45.43 after the company reported fourth-quarter financial results.</li>
<li>BigBear.ai Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bbai#NYSE">BBAI</a>) rose 26% to $3.14. Cantor Fitzgerald analyst Yi Fu Lee maintained BigBear.ai with an Overweight and maintained $3 price target.</li>
<li>5E Advanced Materials, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/feam#NASDAQ">FEAM</a>) gained 24.3% to $1.84.</li>
<li>Earlyworks Co., Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/elws#NASDAQ">ELWS</a>) gained 24.2% to $0.7321. Earlyworks was selected as a co-creation partner for MetaMe&reg; a meta-communication service utilizing cutting-edge technology from NTT DOCOMO, one of Japan&#39;s largest cell phone operators.</li>
<li>The Singing Machine Company, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mics#NASDAQ">MICS</a>) rose 24.1% to $0.9012.</li>
<li>SMX (Security Matters) Public Limited Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smx#NASDAQ">SMX</a>) jumped 24% to $0.3299.</li>
<li>Ligand Pharmaceuticals Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lgnd#NASDAQ">LGND</a>) gained 23% to $91.68 following upbeat quarterly earnings.</li>
<li>SoundHound AI, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/soun#NASDAQ">SOUN</a>) jumped 22.3% to $7.03 after gaining more than 46% on Monday.</li>
<li>Pyxis Oncology, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pyxs#NASDAQ">PYXS</a>) gained 21.3% to $5.80. Pyxis Oncology announced a $50 million private placement.</li>
<li>PubMatic, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pubm#NASDAQ">PUBM</a>) shares climbed 20.8% to $20.01 after the company reported better-than-expected fourth-quarter financial results and issued strong guidance.</li>
<li>bluebird bio, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/blue#NASDAQ">BLUE</a>) jumped 20.5% to $1.76.</li>
<li>Altimmune, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/alt#NASDAQ">ALT</a>) gained 20.4% to $13.63.</li>
<li>Sterling Infrastructure, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/strl#NASDAQ">STRL</a>) jumped 19% to $107.00 after the company reported fourth-quarter financial results.</li>
<li>Denali Therapeutics Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dnli#NASDAQ">DNLI</a>) gained 17.6% to $19.87 following quarterly results.</li>
<li>National Vision Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/eye#NASDAQ">EYE</a>) rose 17.6% to $23.48 following strong results.</li>
<li>Heidrick &amp; Struggles International, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hsii#NASDAQ">HSII</a>) gained 16.7% to $33.81 following strong results.</li>
<li>Ault Alliance, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ault#NASDAQ">AULT</a>) rose 15.8% to $0.4520. Ault Alliance announced record preliminary 2023 revenue of $153 million.</li>
<li>Portillo&#39;s Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ptlo#NASDAQ">PTLO</a>) gained 15.6% to $15.90 following upbeat results.</li>
<li>Dorman Products, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dorm#NASDAQ">DORM</a>) climbed 11.5% to $92.67 following upbeat earnings.</li>
<li>Constellation Energy Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ceg#NASDAQ">CEG</a>) gained 9.7% to $146.27 following strong sales..</li>
<li>NovoCure Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvcr#NASDAQ">NVCR</a>) gained 9.5% to $16.31.</li>
<li>TransMedics Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tmdx#NASDAQ">TMDX</a>) gained 9.5% to $85.14 after the company reported better-than-expected fourth-quarter financial results and issued strong guidance.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>Minerva Neurosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nerv#NASDAQ">NERV</a>) shares dipped 56.9% to $2.93 after the company announced it received a Complete Response Letter from the FDA for the New Drug Application for roluperidone for the treatment of negative symptoms in patients with schizophrenia.</li>
<li>Infobird Co., Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ifbd#NASDAQ">IFBD</a>) fell 55.8% to $1.2180. The stock continues to experience marked volatility after the company on Monday said it encountered an unexpected delay in its planned reverse stock split.</li>
<li>NRx Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nrxp#NASDAQ">NRXP</a>) fell 32.7% to $0.2878 after the company announced pricing of $1.5 million underwritten public offering of common stock at a price of $0.30/share together with investor commitment for additional $1 million.</li>
<li>Thoughtworks Holding, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/twks#NASDAQ">TWKS</a>) fell 30.6% to $3.20 after the company reported worse-than-expected fourth-quarter financial results and issued weak guidance.</li>
<li>Alpine 4 Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/alpp#NASDAQ">ALPP</a>) dipped 26% to $0.8799.</li>
<li>Stagwell Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/stgw#NASDAQ">STGW</a>) fell 25.6% to $5.22 after the company reported worse-than-expected fourth-quarter financial results.</li>
<li>Calidi Biotherapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cldi#NASDAQ">CLDI</a>) dipped 24.9% to $0.9084.</li>
<li>Clarivate Plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/clvt#NYSE">CLVT</a>) fell 23.3% to $6.85 after the company reported fourth-quarter financial results and issued guidance.</li>
<li>Edgio, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/egio#NASDAQ">EGIO</a>) fell 21.5% to $0.2450. Edgio announced effectiveness of reverse stock split.</li>
<li>Telesis Bio, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tbio#NASDAQ">TBIO</a>) fell 21% to $0.5215 after tumbling 15% on Monday. Telesis Bio said it sees preliminary 2023 total consolidated revenue of $27.5 million.</li>
<li>Lotus Technology Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lot#NASDAQ">LOT</a>) dipped 20.3% to $11.36.</li>
<li>Pineapple Energy Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pegy#NASDAQ">PEGY</a>) shares fell 19.6% to $0.0654. On Feb. 5. Pineapple Energy priced a $1 million registered direct offering of common stock.</li>
<li>The Aaron&#39;s Company, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aan#NYSE">AAN</a>) shares fell 16.7% to $8.71. Aaron&#39;s reported a loss for the fourth quarter, while sales missed estimates.</li>
<li>Perrigo Company plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/prgo#NYSE">PRGO</a>) fell 15.1% to $27.33 after the company reported fourth quarter financial results.</li>
<li>Intuitive Machines, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lunr#NASDAQ">LUNR</a>) fell 10% to $5.64. Intuitive Machines said communications with moon lander Odysseus is expected to cease Tuesday morning, effectively ending mission 5 days after touchdown, Reuters reported.</li>
<li>Unity Software Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/u#NYSE">U</a>) fell 8.3% to $30.31 after the company reported mixed financial results for its fourth quarter. The company said it sees first-quarter strategic portfolio revenue in the range of $415 million to $420 million.</li>
<li>Primoris Services Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/prim#NASDAQ">PRIM</a>) dipped 7.2% to $ 37.63 after the company reported mixed fourth quarter financial results.</li>
<li>LendingTree, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tree#NASDAQ">TREE</a>) fell 6.9% to $31.90 following weak sales.</li>
<li>CarGurus, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/carg#NASDAQ">CARG</a>) shares fell 4.2% to $22.89 after the company reported fourth-quarter financial results.</li>
<li>Workday, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wday#NASDAQ">WDAY</a>) shares declined 2.9% to $298.42 after the company reported fourth-quarter financial results, reiterated guidance and announced its intent to acquire HiredScore.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/02/37328014/how-to-earn-500-a-month-from-ebay-stock-ahead-of-q4-earnings-report"> How To Earn $500 A Month From eBay Stock Ahead Of Q4 Earnings Report </a>

Why Helix Energy Solutions Shares Are Trading Lower By 11%? Here Are Other Stocks Moving In Tuesday's Mid-Day Session

U.S. stocks were mixed, with the Dow Jones index falling around 100 points on Tuesday.
Shares of Norwegian Cruise Line Holdings Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nclh#NYSE">NCLH</a>) rose sharply during Tuesday&rsquo;s session following better-than-expected <a href="https://www.benzinga.com/quote/NCLH/earnings">fourth-quarter revenues</a>.
Norwegian Cruise Line posted adjusted loss of 18 cents per share on revenue of $1.99 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Norwegian Cruise Line shares jumped 13% to $18.00 on Tuesday.
Here are some other big stocks recording gains in today&rsquo;s session.
<ul>
<li>Janux Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/janx#NASDAQ">JANX</a>) shares rose 145% to $37.00 after the company announced updated clinical data for both of its clinical programs.</li>
<li>Viking Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vktx#NASDAQ">VKTX</a>) shares jumped 71.2% to $65.88 after the company announced the Phase 2 VENTURE trial successfully achieved its primary endpoint and all secondary endpoints.</li>
<li>WeTrade Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wetg#NASDAQ">WETG</a>) gained 50% to $3.36.</li>
<li>Hims &amp; Hers Health, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hims#NYSE">HIMS</a>) climbed 33.6% to $13.70 after the company reported better-than-expected fourth-quarter financial results and issued strong guidance.</li>
<li>AdaptHealth Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ahco#NASDAQ">AHCO</a>) jumped 29.6% to $9.89 following fourth-quarter results.</li>
<li>Beam Therapeutics Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/beam#NASDAQ">BEAM</a>) gained 26.8% to $45.43 after the company reported fourth-quarter financial results.</li>
<li>BigBear.ai Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bbai#NYSE">BBAI</a>) rose 26% to $3.14. Cantor Fitzgerald analyst Yi Fu Lee maintained BigBear.ai with an Overweight and maintained $3 price target.</li>
<li>Ligand Pharmaceuticals Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lgnd#NASDAQ">LGND</a>) gained 23% to $91.68 following upbeat quarterly earnings.</li>
<li>SoundHound AI, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/soun#NASDAQ">SOUN</a>) jumped 22.3% to $7.03 after gaining more than 46% on Monday.</li>
<li>PubMatic, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pubm#NASDAQ">PUBM</a>) shares climbed 20.8% to $20.01 after the company reported better-than-expected fourth-quarter financial results and issued strong guidance.</li>
<li>Sterling Infrastructure, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/strl#NASDAQ">STRL</a>) jumped 19% to $107.00 after the company reported fourth-quarter financial results.</li>
<li>Denali Therapeutics Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dnli#NASDAQ">DNLI</a>) gained 17.6% to $19.87 following quarterly results.</li>
<li>National Vision Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/eye#NASDAQ">EYE</a>) rose 17.6% to $23.48 following strong results.</li>
<li>Magnite, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mgni#NASDAQ">MGNI</a>) rose 15.7% to $ 11.31.</li>
<li>Portillo&#39;s Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ptlo#NASDAQ">PTLO</a>) gained 15.6% to $15.90 following upbeat results.</li>
<li>Dorman Products, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dorm#NASDAQ">DORM</a>) climbed 11.5% to $92.67 following upbeat earnings.</li>
<li>Constellation Energy Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ceg#NASDAQ">CEG</a>) gained 9.7% to $146.27 following strong sales..</li>
<li>TransMedics Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tmdx#NASDAQ">TMDX</a>) gained 9.5% to $85.14 after the company reported better-than-expected fourth-quarter financial results and issued strong guidance.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/24/02/37334066/top-3-energy-stocks-that-could-sink-your-portfolio-in-q1"> Top 3 Energy Stocks That Could Sink Your Portfolio In Q1 </a>

MGNI

NCLH

Norwegian Cruise Line Posts Strong Sales, Joins Hims & Hers Health, Sterling Infrastructure And Other Big Stocks Moving Higher On Tuesday

Beam Therapeutics shares are trading higher after the company reported Q4 financial results.

Beam Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEAM#NASDAQ">BEAM</a>) reported its Q4 earnings results on Tuesday, February 27, 2024 at 06:30 AM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
Beam Therapeutics beat estimated earnings by 271.0%, reporting an EPS of $1.73 versus an estimate of $-1.01.
Revenue was up $296.15 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.12 which was followed by a 3.0% drop in the share price the next day.
Here's a look at Beam Therapeutics's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>-1.34</td>
<td>-1.42</td>
<td>-1.34</td>
<td>-1.33</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>-1.22</td>
<td>-1.08</td>
<td>-1.33</td>
<td>-0.54</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>17.49M</td>
<td>18.05M</td>
<td>14.08M</td>
<td>12.53M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>17.19M</td>
<td>20.12M</td>
<td>24.21M</td>
<td>20.04M</td>
</tr>
</tbody>
</table>

To track all earnings releases for Beam Therapeutics <a href="https://www.benzinga.com/quote/BEAM/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

Recap: Beam Therapeutics Q4 Earnings

Beam Therapeutics Q4 EPS $1.73 Vs $(0.54) YoY, Sales $316.19M Beat $18.67M Estimate, Cash Runway of $1.2B Expected to Support Operating Plans into 2027

On Thursday, Cathie Wood-led Ark Invest purchased over $40 million worth of shares in Pinterest Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>), despite the social media platform&#8217;s recent fourth-quarter earnings miss. 
The Pinterest Trade
The firm purchased 989,792 shares of Pinterest, worth $40.3 million, on Thursday through ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>), ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>), and Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>). On the day, Pinterest shares closed 0.27% lower at $40.72. In the after-hours trading, the stock declined another 9.23%.
Ark Invest&#8217;s acquisition of Pinterest shares comes at a time when the company reported a <a href="https://www.benzinga.com/news/earnings/24/02/37019165/pinterest-q4-earnings-revenue-miss-eps-beat-monthly-active-users-up-11-and-more">fourth-quarter revenue miss</a>, yet showed an 11% increase in monthly active users. This move by Ark Invest may signal a strong belief in Pinterest&#8217;s long-term potential, especially considering the recent <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/36963705/is-pinterests-partnership-with-amazon-off-to-blazing-start-heres-what-analyst-found">partnership with Amazon</a>, which analysts believe could significantly boost its revenue streams.
The Shopify Trade
Ark Invest sold 108,457 Shopify shares via ARKK, ARKW, and ARKF. The transaction was valued at $9.5 million. On Thursday, Shopify shares closed at $87.87.
Ark Invest&#8217;s decision to sell shares of Shopify Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) comes after a period of volatility for the company, as detailed in a recent <a href="https://www.benzinga.com/news/24/01/36565476/what-happened-with-shopify-stock">Benzinga report</a>. The shares experienced a sell-off in December and January due to broader tech sector losses linked to rising Treasury yields, despite a previous 50% increase since October. Yet, in early January, Shopify shares surged, surpassing December highs and reaching a new 52-week peak. During this period, analysts adjusted Shopify&#8217;s price targets, spanning $65 to $100.
The Nvidia Trade
On Thursday, Ark sold another 2009 shares of Nvidia worth $1.4 million. The transactions were made through ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>), ARK Genomic Revolution ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKG#BATS">ARKG</a>), and Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>). Nvidia shares closed 0.65% lower at $696.41.
Similarly, the sale of Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares by Ark Invest amidst the AI boom, as reported by <a href="https://www.benzinga.com/markets/equities/24/02/36998194/cathie-woods-ark-invest-sheds-2-8m-worth-of-nvidia-shares-amid-ai-hype-picks-up-robinhood-stock-">Benzinga</a>. Ark Invest sold 4053 Nvidia shares across multiple ETFs on Wednesday, valued at $2.84 million, signaling a notable shift in their investment strategy despite Nvidia&#8217;s recent surge of 41.55% since the beginning of 2024 and a 215.69% increase over 12 months. Analysts, like those at Morgan Stanley, foresee Nvidia&#8217;s substantial potential in AI, yet concerns over its high valuation persist, with Ark Invest&#8217;s move possibly reflecting a cautious approach towards Nvidia&#8217;s market position.
See Also: <a href="https://www.benzinga.com/markets/equities/24/02/36971368/cathie-woods-ark-invest-lost-more-than-14b-in-wealth-over-past-decade-report">Cathie Wood&#8217;s Ark Invest Lost More Than $14B In Wealth Over Past Decade, Report</a>
Other Key Trades:
<ul>
<li>Twilio Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>) saw a reduction in Ark&#8217;s holdings, aligning with strategic portfolio adjustments.</li>
<li>Pacific Biosciences of Calif (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PACB#NASDAQ">PACB</a>) received a significant investment, highlighting Ark&#8217;s focus on genomic technologies.</li>
<li>Twist Bioscience Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWST#NASDAQ">TWST</a>) was another key investment, underscoring the fund&#8217;s commitment to biotech innovation.</li>
<li>Beam Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEAM#NASDAQ">BEAM</a>) saw increased shares, reflecting Ark&#8217;s interest in gene editing technologies.</li>
</ul>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/36972547/ark-invest-ceo-cathie-wood-says-bitcoin-will-continue-to-draw-investors-from-gold-theres-n">Ark Invest CEO Cathie Wood Says Bitcoin Will Continue To Draw Investors From Gold, There&#8217;s No Comparison</a>
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 Engineered by Benzinga Neuro, Edited by 
 <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Shivdeep Dhaliwal</a> 
 
 
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Cathie Wood Trims Nvidia, Shopify Stakes To Pump Whopping $40M Into Pinterest Despite Q4 Revenue Miss

JP Morgan analyst Eric Joseph upgrades Beam Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEAM#NASDAQ">BEAM</a>) from Neutral to Overweight and raises the price target from $38 to $40.

Upgrades

JP Morgan Upgrades Beam Therapeutics to Overweight, Raises Price Target to $40

Major cryptocurrencies on Tuesday evening posted some gains following a weekend characterized by <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36626228/bitcoin-ethereum-dogecoin-drop-as-spot-etf-euphoria-subsides-analytics-firm-foresees-shift#:~:text=%E2%80%93%E2%80%93%25-,Bitcoin%2C%20Ethereum%2C%20Dogecoin%20Drop%20As%20Spot%20ETF%20Euphoria%20Subsides%3A,Sentiment%20From%20BTC%20To%20ETH&amp;text=Major%20cryptocurrencies%20dropped%20on%20Sunday,(ETFs)%20earlier%20this%20week.">consolidation </a>as profit-taking occurred.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded 9:30 p.m. EST)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+1.01%</td>
<td>$42,980</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td>
<td>+2.75%</td>
<td>$2,580</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>+0.35%</td>
<td>$0.081</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin&nbsp;has faced pressure <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36590417/secs-historic-bitcoin-etf-approval-reveals-deep-divide-within-commission">following the introduction</a> of spot exchange-traded funds (ETF) in the U.S.&nbsp;
According to data from Paris-based Kaiko, selling pressure has been focused on Binance, OKX, and Upbit by trading volumes.&nbsp;
On January 16, the Grayscale Bitcoin Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#NYSE">GBTC</a>) transferred 8,730 Bitcoin, valued at over $376 million, to Coinbase Prime deposit addresses. This transfer was disclosed by blockchain analytics platform Arkham Intelligence. The transactions suggest that the fund might have been compelled to sell a portion of its Bitcoin due to a decline in its share price.
Top Gainer (24 Hour)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded 9:30 p.m. EDT)</td>
</tr>
<tr>
<td>Klaytn (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">KLAY</a>)</td>
<td>+20.83%</td>
<td>$0.22</td>
</tr>
<tr>
<td>Chiliz (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/chz/usd">CHZ</a>)</td>
<td>+19.13%</td>
<td>$0.10</td>
</tr>
<tr>
<td>Beam (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/beam/usd">BEAM</a>)</td>
<td>+11.97%</td>
<td>$0.022</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market cap now stands at $1.68 trillion, showing a 0.28% increase in the past 24 hours.
The S&amp;P 500 concluded with a 0.37% decrease, closing at 4,765.98, while the Nasdaq Composite <a href="https://www.benzinga.com/markets/equities/24/01/36647944/us-stocks-drift-lower-as-dollar-treasury-yields-rise-amd-defies-gravity-whats-driving-markets-tu">dropped by 0.19% to 14,944.35.&nbsp;</a>
Moreover, the benchmark 10-year Treasury note yield surged by more than 11 basis points to reach 4.064%. This spike followed remarks by Federal Reserve Governor Christopher Waller, suggesting a potential slower pace of monetary policy easing than what had been anticipated by Wall Street.
Looking ahead, investors are awaiting the release of December retail sales data on Wednesday. This data has the potential to fuel concerns about a downturn and economic growth, particularly if there is a cooldown in U.S. consumer spending.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Cryptocurrency analyst Michael Van de Poppe predicts a probable scenario for Bitcoin, foreseeing a potential rejection at $46K, followed by a correction to below $40K.&nbsp;
"Still liquidity ready to be taken there and it would cause a chain reaction across the markets, FUD, negative sentiment (unjustified) and such. Always ready to buy the dip."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Primary scenario for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is basically a rejection at $46K and then a correction to sub $40K. Still liquidity ready to be taken there and it would cause a chain reaction across the markets, FUD, negative sentiment (unjustified) and such. Always ready to buy the dip. <a href="https://t.co/G6kxSS2uGZ">pic.twitter.com/G6kxSS2uGZ</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1747296324477763838?ref_src=twsrc%5Etfw">January 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Crypto analyst Benjamin Cowen revises his outlook on Bitcoin amid growing investor anticipation of a potential reversal in the Federal Reserve&#8217;s tight monetary policies in the near future. "As rate cuts arrive it's typically not the most bullish thing for risk assets, not because rate cuts in and of themselves are not bullish, but because a rate cut in and of itself is theoretically bullish."
Daan Crypto Trades reported on the Bitcoin Orderbook Heatmaps, stating that there are no significant anomalies in the current order books.&nbsp; "Two notable big walls above and below at ~$50K and ~$37K. There&#8217;s a good chance price gravitates towards those if it were to get close. Currently right near the middle though."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> Orderbook Heatmaps &#x1f525; Currently there&#39;s nothing out of the ordinary in the orderbooks. Two notable big walls above and below at ~$50K and ~$37K. There&#39;s a good chance price gravitates towards those if it were to get close. Currently right near the middle though. <a href="https://t.co/6aR6MRdCPr">pic.twitter.com/6aR6MRdCPr</a>
&mdash; Daan Crypto Trades (@DaanCrypto) <a href="https://twitter.com/DaanCrypto/status/1747370893523755013?ref_src=twsrc%5Etfw">January 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Santiment, an on-chain analytical firm, has revealed that Ethereum&#8217;s price dominance against Bitcoin has surged by +22.4% in just a week. Moreover, the data shows a remarkable increase in the creation of new ETH addresses, with an average of 89.4K addresses per day and a striking 96.3K wallets created just yesterday. This surge is complemented by the fact that the supply of Ethereum on exchanges is nearing its historical low of 8.05%, signaling a substantial movement towards self-custody and staking. This trend implies a reduced risk of a potential selloff, unlike the concerning rise in supply on exchanges.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f4c8; <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a>&#39;s price dominance continues to surge against <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>&#39;s, now +22.4% in a week. During this stretch, there have been 89.4K new <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> addresses created per day, and 96.3K wallets just yesterday. Additionally, the 2nd largest market cap asset&#39;s supply on (Cont) &#x1f447; <a href="https://t.co/9nHCl6PJPy">pic.twitter.com/9nHCl6PJPy</a>
&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1747362860941103110?ref_src=twsrc%5Etfw">January 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by FellowNeko on Shutterstock
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/23/04/31624379/jim-cramer-advises-against-using-binance-provokes-strong-reactions-from-twitter-users">Jim Cramer Advises Against Using Binance, Provokes Strong Reactions From Twitter Users</a>

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GBTC

Bitcoin, Ethereum, Dogecoin Rise As Investors Weigh Spot ETF Impact: Analyst Says Scenario For King Crypto Is 'Rejection' At $46K And Then Correction To Below $40K

Beam Therapeutics Reports Progress Across Hematology And Genetic Disease Portfolios; Cash Runway Expected To Support Operating Plans Into 2027

B of A Securities analyst Greg Harrison downgrades Beam Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEAM#NASDAQ">BEAM</a>) from Buy to Neutral and announces $35 price target.

Downgrades

B of A Securities Downgrades Beam Therapeutics to Neutral, Announces $35 Price Target

Beam Therapeutics shares are trading lower after Jefferies downgraded the stock from Buy to Hold and lowered its price target from $75 to $30.

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Citigroup raised Deckers Outdoor Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/deck#NYSE">DECK</a>) price target from $665 to $710. Citigroup analyst Paul Lejuez downgraded the stock from Buy to Neutral. Deckers Outdoor shares rose 1% to close at $694.42 on Thursday. S<a href="https://www.benzinga.com/quote/DECK/analyst-ratings">ee how other analysts view this stock.</a></li>
<li>HC Wainwright &amp; Co. cut the price target for Applied DNA Sciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/apdn#NASDAQ">APDN</a>) from $4 to $2. HC Wainwright &amp; Co. analyst Yi Chen maintained a Buy rating. Applied DNA Sciences shares fell 2.7% to close at $1.08 on Thursday. <a href="https://www.benzinga.com/quote/APDN/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Jefferies cut the price target for Beam Therapeutics Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/beam#NASDAQ">BEAM</a>) from $75 to $30. Jefferies analyst Michael Yee downgraded the stock from Buy to Hold. Beam Therapeutics shares gained 0.3% to close at $28.75 on Thursday. <a href="https://www.benzinga.com/quote/BEAM/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Citigroup boosted the price target for Dollar General Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dg#NYSE">DG</a>) from $115 to $138. Citigroup analyst Paul Lejuez maintained a Neutral rating. Dollar General shares fell 1.2% to close at $132.30 on Thursday. <a href="https://www.benzinga.com/quote/DG/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Morgan Stanley raised the price target for First Solar, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fslr#NASDAQ">FSLR</a>) from $214 to $237. Morgan Stanley analyst Andrew Percoco upgraded the stock from Equal-Weight to Overweight. First Solar shares fell 0.8% to close at $144.18 on Thursday. <a href="https://www.benzinga.com/quote/FSLR/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Barclays increased Lululemon Athletica Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lulu#NASDAQ">LULU</a>) price target from $480 to $530. Barclays analyst Adrienne Yih maintained an Overweight rating. Lululemon shares gained 0.9% to close at $464.67 on Thursday. <a href="https://www.benzinga.com/quote/LULU/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Keybanc cut Veeva Systems Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/veev#NYSE">VEEV</a>) price target from $230 to $210. Keybanc analyst Scott Schoenhaus maintained an Overweight rating. Veeva shares fell 3.1% to close at $172.95 on Thursday. <a href="https://www.benzinga.com/quote/VEEV/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Raymond James boosted Toll Brothers, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tol#NYSE">TOL</a>) price target from $110 to $120. Raymond James analyst Buck Horne maintained a Strong Buy rating. Toll Brothers shares rose 2.5% to close at $91.16 on Thursday. <a href="https://www.benzinga.com/quote/TOL/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Deutsche Bank increased Cintas Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ctas#NASDAQ">CTAS</a>) price target from $551 to $590. Deutsche Bank analyst Faiza Alwy downgraded the stock from Buy to Hold. Cintas shares rose 0.5% to close at $553.75 on Thursday. <a href="https://www.benzinga.com/quote/CTAS/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Telsey Advisory Group cut RH (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rh#NYSE">RH</a>) price target from $325 to $285. Telsey Advisory Group analyst Joseph Feldman maintained a Market Perform rating. RH shares rose 0.5% to close at $281.40 on Thursday. <a href="https://www.benzinga.com/quote/RH/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
&nbsp;
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/12/36127763/i-like-it-very-much-jim-cramer-bullish-on-this-financial-stock-up-75-ytd"> &#39;I Like It Very Much&#39;: Jim Cramer Bullish On This Financial Stock Up 75% YTD </a>

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Lululemon To Rally Around 14%? Here Are 10 Top Analyst Forecasts For Friday

There's a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Rhythm Pharmaceuticals (RYTM – Research Report), Bea...

Analysts Offer Insights on Healthcare Companies: Rhythm Pharmaceuticals (RYTM), Beam Therapeutics (BEAM) and Glaukos (GKOS)

Biotech Roundtable: Is CRISPR all it's cracked up to be?

The market has been down on Beam Therapeutics Inc (BEAM)  stock recently. BEAM gets a Bearish score from InvestorsObserver Stock Sentiment Indicator. Beam Therapeutics Inc has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on BEAM!See Full BEAM ReportWhat is Stock Sentiment?S

Where Will Beam Therapeutics Inc (BEAM) Stock Go Next After It Is Down 4.42% in a Week?

William Blair analyst Sami Corwin has maintained their bullish stance on BEAM stock, giving a Buy rating today. Sami Corwin has given his Buy ratin...

Beam Therapeutics: A Strong Buy on Regulatory Clearance and Promising BEAM-302 Preclinical Data

Beam Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEAM#NASDAQ">BEAM</a>) is a gene editing company — one that gets less attention than its peers. Nonetheless, it currently has a $2.7 billi...

Is Beam Therapeutics Stock (NASDAQ:BEAM) Too Late to the Game?

Is Beam Therapeutics (NASDAQ:BEAM) Too Late to the Game?

Verve drops after pausing enrollments in trial for lead asset

Verve drops after pausing trial enrollments for lead asset

Biotech Roundtable: Who will bring the next CRISPR drug to market?

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Beam Therapeutics: A Buy Rating Amidst Gene Editing Industry Developments

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Opinion

Press Releases

Thinking about trading options or stock in Walmart, Chewy, Marvell Technology, Xpeng Inc, or Beam Therapeutics?

Management

Beam Therapeutics Appoints Biotech Executive Christi Shaw to its Board of Directors

Beam Therapeutics to Present at the 42nd Annual J.P. Morgan Healthcare Conference

Beam Therapeutics Highlights Progress Across Base Editing Portfolio and Outlines 2024 Anticipated Milestones

Thinking about trading options or stock in Pfizer, Palo Alto Networks, Block, McGrath RentCorp, or Beam Therapeutics?

Beam Therapeutics to Participate in the Guggenheim Healthcare Talks 6th Annual Biotechnology Conference

Beam Therapeutics Reports Fourth Quarter and Year-End 2023 Financial Results and Reiterates Anticipated Milestones

Beam Therapeutics to Participate in Upcoming March 2024 Investor Conferences

2024 Entrepreneurship Summit Presented by the Harvard Undergraduate Venture Capital Group: Agenda and Speakers

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Beam Therapeutics Stock (NASDAQ:BEAM), Trade Ideas