Beam Therapeutics Inc (NASDAQ:BEAM) shares, rose in value, with the stock price down by -2.86% to the previous day’s close as strong demand from buyers drove the stock to $28.20.
Actively observing the price movement in the last trading, the stock closed the session at $29.03. The value of beta (5-year monthly) was 1.80. Referring to stock’s 52-week performance, its high was $49.50, and the low was $16.95. On the whole, BEAM has fluctuated by -26.33% over the past month.
With the market capitalization of Beam Therapeutics Inc currently standing at about $2.30 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 08, 2024 – May 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$1.42, which is expected to increase to -$1.18 for fiscal year -$5.38 and then to about -$5.07 by fiscal year 2025. Data indicates that the EPS growth is expected to be -212.80% in 2025, while the next year’s EPS growth is forecast to be 5.80%.
According to the average forecast, sales growth in current quarter could jump down -29.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $63.42 million, representing a decrease of -83.20% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that BEAM’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of BEAM currently trading nearly -17.35% and -13.83% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 32.04, while the 7-day volatility ratio is showing 3.65% which for the 30-day chart, stands at 5.14%. Furthermore, Beam Therapeutics Inc (BEAM)’s beta value is 1.79, and its average true range (ATR) is 1.93.
A comparison of Beam Therapeutics Inc (BEAM) with its peers suggests the former has fared considerably weaker in the market. BEAM showed an intraday change of -2.86% in last session, and over the past year, it shrunk by -4.63%%.
Data on historical trading for Beam Therapeutics Inc (NASDAQ:BEAM) indicates that the trading volumes over the past 10 days have averaged 1.0 million and over the past 3 months, they’ve averaged 1.40 million. According to company’s latest data on outstanding shares, there are 81.63 million shares outstanding.
Nearly 16.78% of Beam Therapeutics Inc’s shares belong to company insiders and institutional investors own 76.98% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 14.32 million shares as on Mar 15, 2024, resulting in a short ratio of 8.36. According to the data, the short interest in Beam Therapeutics Inc (BEAM) stood at 17.54% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 13.43 million. The stock has risen by 3.60% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the BEAM stock heading into the next quarter.
