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Beam Therapeutics Inc (NASDAQ:BEAM)’s Stock Performance and Outlook

In the last trading session, 2.48 million Beam Therapeutics Inc (NASDAQ:BEAM) shares changed hands as the company’s beta touched 1.68. With the company’s per share price at $33.40 changed hands at $4.35 or 14.97% during last session, the market valuation stood at $2.72B. BEAM’s last price was a discount, traded about -33.2% off its 52-week high of $44.49. The share price had its 52-week low at $16.95, which suggests the last value was 49.25% up since then. When we look at Beam Therapeutics Inc’s average trading volume, we note the 10-day average is 1.24 million shares, with the 3-month average coming to 1.82.

Beam Therapeutics Inc (NASDAQ:BEAM) trade information

Instantly BEAM was in green as seen at the end of in last trading. With action 28.81%, the performance over the past five days has been green. The jump to weekly highs of 33.56 added 14.97% to the stock’s daily price. The company’s shares are showing year-to-date upside of 22.70%, with the 5-day performance at 28.81% in the green. However, in the 30-day time frame, Beam Therapeutics Inc (NASDAQ:BEAM) is 28.07% up. Looking at the short shares, we see there were 13.39 million shares sold at short interest cover period of 10.92 days.

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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 30.72% over the past 6 months, a -16.46% in annual growth rate that is considerably lower than the industry average of 15.50%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Beam Therapeutics Inc will fall -87.00%, while the growth in revenue is estimated to hit 12.80% for the next quarter. Year-over-year growth is forecast to reach 30.00% up from the last financial year.

Consensus estimates given by 12 financial analysts project the company’s revenue in the current quarter to hit an average of $18.67 million. 9 analysts are of the opinion that Beam Therapeutics Inc’s revenue for the quarter ending Mar 2024 will be $18.13 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 -6.80%. The estimates for the next quarter sales put growth at -25.10%.

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 2024 estimates are for Beam Therapeutics Inc earnings to decrease by -2.90%, 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 between February 26 and March 01.

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