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Beam Therapeutics Inc. (NASDAQ: BEAM) Stock Buying Tips

Beam Therapeutics Inc. (NASDAQ:BEAM) shares, rose in value on Thursday, 08/04/22, with the stock price down by -0.21% to the previous day’s close as strong demand from buyers drove the stock to $62.88.

Actively observing the price movement in the last trading, the stock closed the session at $63.01, falling within a range of $58.99 and $64.63. The value of beta (5-year monthly) was 1.39. Referring to stock’s 52-week performance, its high was $116.91, and the low was $27.77. On the whole, BEAM has fluctuated by 38.02% over the past month.

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With the market capitalization of Beam Therapeutics Inc. currently standing at about $4.76 billion, investors are eagerly awaiting this quarter’s results, scheduled for Mar 14, 2022 – Mar 18, 2022. 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 -$1.08, which is expected to increase to -$0.8 for fiscal year -$4.31 and then to about -$4.84 by fiscal year 2023. Data indicates that the EPS growth is expected to be 25.30% in 2023, while the next year’s EPS growth is forecast to be -12.30%.

Analysts have estimated the company’s revenue for the quarter at $8.39 million, with a low estimate of $10k and a high estimate of $25 million. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $36.1 million, representing a decrease of -30.40% 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% Sell 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 4.47% and 35.75% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 60.32, while the 7-day volatility ratio is showing 7.45% which for the 30-day chart, stands at 8.59%. Furthermore, Beam Therapeutics Inc. (BEAM)’s average true range (ATR) is 4.81.

Data on historical trading for Beam Therapeutics Inc. (NASDAQ:BEAM) indicates that the trading volumes over the past 10 days have averaged 0.91 million and over the past 3 months, they’ve averaged 1.38 million. According to company’s latest data on outstanding shares, there are 68.70 million shares outstanding.

Nearly 1.80% of Beam Therapeutics Inc.’s shares belong to company insiders and institutional investors own 80.90% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 13.24 million shares as on Jul 14, 2022, resulting in a short ratio of 8.75. According to the data, the short interest in Beam Therapeutics Inc. (BEAM) stood at 18.84% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 11.62 million. The stock has fallen by -21.09% 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.

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