Beam Therapeutics Inc (NASDAQ:BEAM) shares, rose in value on Friday, November 01, with the stock price up by 4.66% to the previous day’s close as strong demand from buyers drove the stock to $22.93.
Actively observing the price movement in the last trading, the stock closed the session at $21.91, falling within a range of $22.0546 and $23.114. The value of beta (5-year monthly) was 1.848. Referring to stock’s 52-week performance, its high was $49.50, and the low was $18.85. On the whole, BEAM has fluctuated by -0.04% over the past month.
With the market capitalization of Beam Therapeutics Inc currently standing at about $1.89 billion, investors are eagerly awaiting this quarter’s results, scheduled for on 2024-Nov-05.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 48.81M, with a low estimate of 5M and a high estimate of 28M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 14.5M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that BEAM’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the price of BEAM currently trading nearly -2.15% and -5.76% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 46.94, while the 7-day volatility ratio is showing 3.92% which for the 30-day chart, stands at 4.82%. Furthermore, Beam Therapeutics Inc (BEAM)’s beta value is 1.86, and its average true range (ATR) is 1.13.
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 4.66% in last session, and over the past year, it grew by 8.98%%.
Data on historical trading for Beam Therapeutics Inc (NASDAQ:BEAM) indicates that the trading volumes over the past 10 days have averaged 1.06 and over the past 3 months, they’ve averaged 846.33K. According to company’s latest data on outstanding shares, there are 81.63 million shares outstanding.
Nearly 13.05% of Beam Therapeutics Inc’s shares belong to company insiders and institutional investors own 80.15% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 11.16 million shares as on 2024-10-15, resulting in a short ratio of 13.73. According to the data, the short interest in Beam Therapeutics Inc (BEAM) stood at 1774.00 of shares outstanding as of 2024-10-15; the number of short shares registered in 2024-09-13 reached 10.96 million. The stock has fallen by -15.76% 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.
