Beam Therapeutics Inc (NASDAQ: BEAM) Is Worth A Shot If You’re A Risk-Capital Investor

In the latest trading session, 0.81 million Beam Therapeutics Inc (NASDAQ:BEAM) shares changed hands as the company’s beta touched 1.67. With the company’s most recent per share price at $29.75 changing hands around $2.28 or 8.30% at last look, the market valuation stands at $2.42B. BEAM’s current price is a discount, trading about -73.45% off its 52-week high of $51.60. The share price had its 52-week low at $16.95, which suggests the last value was 43.03% up since then. When we look at Beam Therapeutics Inc’s average trading volume, we note the 10-day average is 1.82 million shares, with the 3-month average coming to 1.17 million.

Analysts gave the Beam Therapeutics Inc (BEAM) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.86. If we narrow down to specifics, the data shows that 0 out of 14 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 6 recommended BEAM as a Hold, 8 felt it is a Buy and 0 rated the stock as Underweight. Beam Therapeutics Inc’s EPS for the current quarter is expected to be -$0.96.

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Beam Therapeutics Inc (NASDAQ:BEAM) trade information

Instantly BEAM is in green as seen in intraday trades today. With action 35.60%, the performance over the past five days has been green. The jump to weekly highs of 29.73 on Friday, 11/17/23 added 8.30% to the stock’s daily price. The company’s shares are showing year-to-date downside of -23.93%, with the 5-day performance at 35.60% in the green. However, in the 30-day time frame, Beam Therapeutics Inc (NASDAQ:BEAM) is 68.17% up. Looking at the short shares, we see there were 14.45 million shares sold at short interest cover period of 11.42 days.

The consensus price target for the stock as assigned by Wall Street analysts is $49.67, meaning bulls need an upside of 40.1% from its recent market value. According to analyst projections, BEAM’s forecast low is $19.00 with $95.00 as the target high. To hit the forecast high, the stock’s price needs a -219.33% plunge from its current level, while the stock would need to tank 36.13% for it to hit the projected low.

Beam Therapeutics Inc (BEAM) estimates and forecasts

Data shows that the Beam Therapeutics Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -15.36% over the past 6 months, a -17.43% in annual growth rate that is considerably lower than the industry average of 14.90%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Beam Therapeutics Inc will fall -77.80%, while the growth in revenue is estimated to hit 13.50% for the next quarter. Year-over-year growth is forecast to reach 55.80% up from the last financial year.

Consensus estimates given by 9 financial analysts project the company’s revenue in the current quarter to hit an average of $19.91 million. 6 analysts are of the opinion that Beam Therapeutics Inc’s revenue for the quarter ending Mar 2024 will be $21.87 million. The company’s revenue for the corresponding quarters a year ago was $20.04 million and $24.21 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -0.60%. The estimates for the next quarter sales put growth at -9.70%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -84.16%. The 2023 estimates are for Beam Therapeutics Inc earnings to decrease by -1.79%, but the outlook for the next 5-year period is at 4.10% per year.

BEAM Dividends

Beam Therapeutics Inc is expected to release its next quarterly earnings report on November 08.

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

If we look at who the major shareholders are, we find that insiders hold 1.87% of Beam Therapeutics Inc shares while 88.16% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 89.84%. There are 88.16% institutions holding the Beam Therapeutics Inc stock share, with ARK Investment Management, LLC the top institutional holder. As of Sep 29, 2023, the company held 11.09% of the shares, roughly 8.78 million BEAM shares worth $211.25 million.

FMR, LLC holds the second largest percentage of outstanding shares, with 9.01% or 7.14 million shares worth $227.91 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were ARK ETF Tr-ARK Innovation ETF and Vanguard Total Stock Market Index Fund. With 6.08 million shares estimated at $146.27 million under it, the former controlled 7.68% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 3.00% of the shares, roughly 2.38 million shares worth around $75.87 million.

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