Why Have Beam Therapeutics Inc (NASDAQ: BEAM) Shares Declined So Much?

Beam Therapeutics Inc (NASDAQ:BEAM) price closed lower on Monday, June 17, dropping -3.38% below its previous close.

A look at the daily price movement shows that the last close reads $24.87. Taking into account the 52-week price action we note that the stock hit a 52-week high of $49.50 and 52-week low of $16.95. The stock added 1.01% on its value in the past month.

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Technical indicators in stocks provide crucial insights into market trends, guiding investors with precise entry and exit points based on price movements for informed decision-making.On the technical perspective front, indicators give BEAM a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Sell, while an average of long term indicators are currently assigning the stock as 50% Sell.

The overview shows that BEAM’s price is at present -1.76% off the SMA20 and -0.78% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 47.14, with weekly volatility standing at 5.70%. The indicator jumps to 5.26% when calculated based on the past 30 days. Beam Therapeutics Inc (NASDAQ:BEAM)’s beta value is holding at 1.88, while the average true range (ATR) indicator is currently reading 1.42.

An analysis of the Beam Therapeutics Inc (NASDAQ:BEAM) stock in terms of its daily trading volume indicates that the 3-month average is 1.31 million.

Current records show that the company has 81.63M in outstanding shares. The insiders’ percentage holdings are 6.65% of outstanding shares while the percentage share held by institutions stands at 78.66%. But the -11.72% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.

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