In the last trading session, 1.27 million shares of the Beam Therapeutics Inc (NASDAQ:BEAM) were traded, and its beta was 1.77. Most recently the company’s share price was $33.04, and it changed around -$0.92 or -2.71% from the last close, which brings the market valuation of the company to $2.70B. BEAM currently trades at a discount to its 52-week high of $49.50, offering almost -49.82% off that amount. The share price’s 52-week low was $16.95, which indicates that the current value has risen by an impressive 48.7% since then. We note from Beam Therapeutics Inc’s average daily trading volume that its 10-day average is 1.09 million shares, with the 3-month average coming to 1.38 million.
Beam Therapeutics Inc stock received a consensus recommendation rating of Hold, based on a mean score of 1.93. If we narrow it down even further, the data shows that 0 out of 15 analysts rate the stock as a Sell; another 5 rate it as Overweight. Among the rest, 7 recommended BEAM as a Hold, whereas 3 deemed it a Buy, and 0 rated it as Underweight. Beam Therapeutics Inc is expected to report earnings per share of -$1.41 for the current quarter.
Beam Therapeutics Inc (NASDAQ:BEAM) trade information
Instantly BEAM has showed a red trend with a performance of -2.71% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently up 21.38% year-to-date, but still down -5.46% over the last five days. On the other hand, Beam Therapeutics Inc (NASDAQ:BEAM) is -24.24% down in the 30-day period. We can see from the shorts that 14.32 million shares have been sold at a short interest cover period of 8.36 day(s).
The consensus price target as assigned by Wall Street analysts is $63, which translates to bulls needing to increase their stock price by 47.56% from its current value. Analyst projections state that BEAM is forecast to be at a low of $62 and a high of $66.
Beam Therapeutics Inc (BEAM) estimates and forecasts
Beam Therapeutics Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 36.19 percent over the past six months and at a -219.77% annual growth rate that is well below the industry average of 13.00%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -6.00% in revenue this quarter, and will report a decrease of -26.90% in the next quarter. The year-over-year growth rate is expected to be -82.80%, down from the previous year.
Consensus estimates provided by 11 financial analysts predict the company will bring in an average of $17.42 million in revenue for the current quarter. 11 analysts expect Beam Therapeutics Inc to make $15.65 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $24.21 million and $20.12 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -28.00%. Forecasts for the next quarter put sales growth at -22.20%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 5.58%. Beam Therapeutics Inc earnings are expected to increase by -211.07% in 2024, but the outlook is negative -3.70% per year for the next five years.
BEAM Dividends
Beam Therapeutics Inc’s next quarterly earnings report is expected to be released around May 08 and May 13.
Beam Therapeutics Inc (NASDAQ:BEAM)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 1.74% of Beam Therapeutics Inc shares, and 89.65% of them are in the hands of institutional investors. The stock currently has a share float of 91.24%. Beam Therapeutics Inc stock is held by 293 institutions, with ARK Investment Management, LLC being the largest institutional investor. By Dec 30, 2023, it held 11.50% of the shares, which is about 9.39 million shares worth $310.37 million.
Vanguard Group Inc, with 8.77% or 7.16 million shares worth $236.73 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.
ARK ETF Tr-ARK Innovation ETF and SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF were the top two Mutual Funds as of Jan 30, 2024. The former held 6.0 million shares worth $198.25 million, making up 7.35% of all outstanding shares. On the other hand, SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF held roughly 2.97 million shares worth around $98.03 million, which represents about 3.63% of the total shares outstanding.
