Beam Therapeutics Inc (NASDAQ:BEAM) price on Thursday, April 10, fall -10.63% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $14.63.
A look at the stock’s price movement, the close in the last trading session was $16.37. Turning to its 52-week performance, $35.25 and $13.52 were the 52-week high and 52-week low respectively. Overall, BEAM moved -46.64% over the past month.
Beam Therapeutics Inc’s market cap currently stands at around $1.46 billion, with investors looking forward to this quarter’s earnings report slated for in May.
Analysts have a consensus estimate of 14.68M for the company’s revenue for the quarter, with a low and high estimate of 7M and 25M respectively. The average forecast suggests up to a 98.18% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 63.72M, representing a 0.32% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that BEAM is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
6 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 4 recommend BEAM as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
BEAM’s current price about -27.38% and -41.22% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 29.89, while 7-day volatility ratio is 17.31% and 10.28% in the 30-day chart. Further, Beam Therapeutics Inc (BEAM) has a beta value of 2.38, and an average true range (ATR) of 2.20. Analysts have given the company’s stock an average 52-week price target of $38, forecast between a low of $25 and high of $57. Looking at the price targets, the low is -70.88% off current price level while to achieve the yearly target high, price needs to move -289.61%. Nonetheless, investors will most likely welcome a -159.74% jump to $38 which is the analysts’ median price.
If we refocus on Beam Therapeutics Inc (NASDAQ:BEAM), historical trading data shows that trading volumes averaged 2.01 million over the past 3 months. The company’s latest data on shares outstanding shows there are 99.84 million shares.
The 11.97% of Beam Therapeutics Inc’s shares are in the hands of company insiders while institutional holders own 69.87% of the company’s shares. Current price change has pushed the stock -41.01% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the BEAM stock continues to rise going into the next quarter.
