Beam Therapeutics Inc (NASDAQ:BEAM) price on Wednesday, February 05, rose 8.04% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $27.82.
A look at the stock’s price movement, the close in the last trading session was $25.75, moving within a range at $25.935 and $27.885. The beta value (5-Year monthly) was 1.862. Turning to its 52-week performance, $49.50 and $20.84 were the 52-week high and 52-week low respectively. Overall, BEAM moved 9.61% over the past month.
Beam Therapeutics Inc’s market cap currently stands at around $2.30 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 16.47M for the company’s revenue for the quarter, with a low and high estimate of 5M and 42M respectively. The average forecast suggests down to a -94.79% 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 51.42M, representing a -86.39% decline 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 50% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy 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 8.68% and 5.24% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 58.57, while 7-day volatility ratio is 6.96% and 6.93% in the 30-day chart. Further, Beam Therapeutics Inc (BEAM) has a beta value of 1.91, and an average true range (ATR) of 1.74. Analysts have given the company’s stock an average 52-week price target of $48, forecast between a low of $37 and high of $69. Looking at the price targets, the low is -33.0% off current price level while to achieve the yearly target high, price needs to move -148.02%. Nonetheless, investors will most likely welcome a -72.54% jump to $48 which is the analysts’ median price.
If we refocus on Beam Therapeutics Inc (NASDAQ:BEAM), historical trading data shows that trading volumes averaged 0.89 over the past 10 days and 1.18 million over the past 3 months. The company’s latest data on shares outstanding shows there are 82.56 million shares.
The 12.35% of Beam Therapeutics Inc’s shares are in the hands of company insiders while institutional holders own 87.56% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 10.79 million on 2025-01-15, giving us a short ratio of 8.25. The data shows that as of 2025-01-15 short interest in Beam Therapeutics Inc (BEAM) stood at 1704.0001 of shares outstanding, with shares short rising to 10.06 million registered in 2024-12-13. Current price change has pushed the stock 12.18% 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.
