Beam Therapeutics Inc (NASDAQ:BEAM) price on current trading day, rose 4.65% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $23.64.
A look at the stock’s price movement, the close in the last trading session was $22.59, moving within a range at $22.5 and $24.32. The beta value (5-Year monthly) was 1.907. Turning to its 52-week performance, $36.75 and $20.84 were the 52-week high and 52-week low respectively. Overall, BEAM moved -29.41% over the past month.
Beam Therapeutics Inc’s market cap currently stands at around $2.36 billion, with investors looking forward to this quarter’s earnings report slated for on 2025-Feb-24.
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 50% Buy. On the other hand, the stock is on average a 50% Buy 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 -12.20% and -11.95% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 40.63, while 7-day volatility ratio is 8.93% and 9.28% in the 30-day chart. Further, Beam Therapeutics Inc (BEAM) has a beta value of 1.96, and an average true range (ATR) of 2.34. 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 -5.75% off current price level while to achieve the yearly target high, price needs to move -141.12%. Nonetheless, investors will most likely welcome a -60.74% 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 2.84 over the past 10 days and 1.54 million over the past 3 months. The company’s latest data on shares outstanding shows there are 99.84 million shares.
The 11.82% of Beam Therapeutics Inc’s shares are in the hands of company insiders while institutional holders own 69.86% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 9.99 million on 2025-02-28, giving us a short ratio of 7.51. The data shows that as of 2025-02-28 short interest in Beam Therapeutics Inc (BEAM) stood at 1557.0 of shares outstanding, with shares short falling to 10.02 million registered in 2025-01-31. Current price change has pushed the stock -4.68% 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.
