Could Beam Therapeutics Inc. (NASDAQ:BEAM) Post Life-Changing Returns? – Marketing Sentinel

Could Beam Therapeutics Inc. (NASDAQ:BEAM) Post Life-Changing Returns?

In the last trading session, 1,222,964 Beam Therapeutics Inc. (NASDAQ:BEAM) shares changed hands as the company’s beta touched 0. With the company’s per share price at $74.59 changed hands at -$6.74 or -0.08% during last session, the market valuation stood at $4.66 Billion. BEAM’s last price was a discount, traded about -70.13% off its 52-week high of $126.9. The share price had its 52-week low at $14.8, which suggests the last value was 80.16% up since then. When we look at Beam Therapeutics Inc.’s average trading volume, we note the 10-day average is 854.16 Million shares, with the 3-month average coming to 1.11 Million.

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Analysts gave the Beam Therapeutics Inc. (BEAM) stock a consensus recommendation rating of Overweight, calculated at a mean rating of 2. If we narrow down to specifics, the data shows that none out of 7 analysts rate the stock as a Sell, with a further none assigning it an Overweight rating. Of the remaining, 3 recommended BEAM as a Hold, 4 felt it is a Buy and none rated the stock as Underweight. Beam Therapeutics Inc.’s EPS for the current quarter is expected to be -$0.72.

Beam Therapeutics Inc. (NASDAQ:BEAM) trade information

Although BEAM has turned red as seen at the end of in last trading. With action -8.29%, the performance over the past five days has been red. The jump to weekly highs of $93.81 on Tuesday, Mar 23 added 20.49% to the stock’s daily price. The company’s shares are showing year-to-date downside of -0.09%, with the 5-day performance at -0.21% in the red. However, in the 30-day time frame, Beam Therapeutics Inc. (NASDAQ:BEAM) is -0.16% down. Looking at the short shares, we see there were 6.77 Million shares sold at short interest cover period of 6.1 days.

The consensus price target for the stock as assigned by Wall Street analysts is $108, meaning bulls need an upside of 44.79% from its current market value. According to analyst projections, BEAM’s forecast low is $84 with $145 as the target high. To hit the forecast high, the stock’s price needs a +94.4% upsurge from its current level, while the stock would need to tank 12.62% for it to hit the projected low.

Beam Therapeutics Inc. (BEAM) estimates and forecasts

Data shows that the Beam Therapeutics Inc. share is not performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot +178.74% over the past 6 months, a 3.53% in annual growth rate that is considerably lower than the industry average of 7%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Beam Therapeutics Inc. will rise +30.1%, while the growth in revenue is estimated to hit -7.2% for the next quarter. Year-over-year growth is forecast to reach 8858.3% up from the last financial year.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 0%. The 2021 estimates are for Beam Therapeutics Inc. earnings to decrease by -108.7%, but the outlook for the next 5-year period is at 0% per year.

Beam Therapeutics Inc. (NASDAQ:BEAM)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 16.84% of Beam Therapeutics Inc. shares while 65.5% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 78.77%. There are 126 institutions holding the Beam Therapeutics Inc. stock share, with FMR, LLC the top institutional holder. As of Dec 30, 2020, the company held 11.74% of the shares, roughly 7.33 Million BEAM shares worth $598.31 Million.

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Redmile Group, LLC holds the second largest percentage of outstanding shares, with 6.05% or 3.78 Million shares worth $308.46 Million as of Dec 30, 2020.

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Among Mutual Funds, the top two as of Feb 27, 2021 were ARK ETF Tr-ARK Genomic Revolution ETF and ARK ETF Tr-ARK Innovation ETF. With 1870171 shares estimated at $166.69 Million under it, the former controlled 3% of total outstanding shares. On the other hand, ARK ETF Tr-ARK Innovation ETF held about 2.24% of the shares, roughly 1.4 Million shares worth around $124.85 Million.

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