Is Beam Therapeutics Inc (NASDAQ: BEAM) Stock On Course For Another Boom Or Bust?

During the last session, Beam Therapeutics Inc (NASDAQ:BEAM)’s traded shares were 1.16 million, with the beta value of the company hitting 1.78. At the end of the trading day, the stock’s price was $29.68, reflecting an intraday loss of -2.85% or -$0.87. The 52-week high for the BEAM share is $49.50, that puts it down -66.78 from that peak though still a striking 42.89% gain since the share price plummeted to a 52-week low of $16.95. The company’s market capitalization is $2.42B, and the average intraday trading volume over the past 10 days was 1.01 million shares, and the average trade volume was 1.39 million shares over the past three months.

Beam Therapeutics Inc (NASDAQ:BEAM) trade information

Beam Therapeutics Inc (BEAM) registered a -2.85% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -2.85% in intraday trading to $29.68, hitting a weekly high. The stock’s 5-day price performance is -10.66%, and it has moved by -22.38% in 30 days. Based on these gigs, the overall price performance for the year is -3.07%. The short interest in Beam Therapeutics Inc (NASDAQ:BEAM) is 14.32 million shares and it means that shorts have 8.36 day(s) to cover.

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Beam Therapeutics Inc (BEAM) estimates and forecasts

Statistics show that Beam Therapeutics Inc has underperformed its competitors in share price, compared to the industry in which it operates. Beam Therapeutics Inc (BEAM) shares have gone up 38.05% during the last six months, with a year-to-date growth rate less than the industry average at -219.77% against 13.60. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -6.80% this quarter and then drop -27.80% in the quarter after that. In the rating firms’ projections, revenue will decrease -83.20% compared to the previous financial year.

Revenue for the current quarter is expected to be $16.97 million as predicted by 11 analyst(s). Meanwhile, a consensus of 11 analyst(s) estimates revenue growth to $15.2 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $24.21 million and $20.12 million respectively. In this case, analysts expect current quarter sales to shrink by -29.90% and then drop by -24.40% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 5.58%. While earnings are projected to return -212.06% in 2024, the next five years will return -3.70% per annum.

BEAM Dividends

Beam Therapeutics Inc is due to release its next quarterly earnings between May 08 and May 13. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

Beam Therapeutics Inc insiders own 1.74% of total outstanding shares while institutional holders control 89.65%, with the float percentage being 91.24%. ARK Investment Management, LLC is the largest shareholder of the company, while 293 institutions own stock in it. As of Sep 29, 2023, the company held over 8.78 million shares (or 11.09% of all shares), a total value of $211.25 million in shares.

The next largest institutional holding, with 7.14 million shares, is of FMR, LLC’s that is approximately 9.01% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $227.91 million.

Also, the Mutual Funds coming in first place with the largest holdings of Beam Therapeutics Inc (BEAM) shares are ARK ETF Tr-ARK Innovation ETF and Vanguard Total Stock Market Index Fund. Data provided on Sep 29, 2023 indicates that ARK ETF Tr-ARK Innovation ETF owns about 6.08 million shares. This amounts to just over 7.68 percent of the company’s overall shares, with a $146.27 million market value. The same data shows that the other fund manager holds slightly less at 2.38 million, or about 3.00% of the stock, which is worth about $75.87 million.