Are Beam Therapeutics Inc (NASDAQ: BEAM) Shares Ready For A Higher Price Run?

In the last trading session, 1.21 million shares of the Beam Therapeutics Inc (NASDAQ:BEAM) were traded, and its beta was 1.88. Most recently the company’s share price was $24.38, and it changed around $0.56 or 2.35% from the last close, which brings the market valuation of the company to $2.01B. BEAM currently trades at a discount to its 52-week high of $49.50, offering almost -103.04% off that amount. The share price’s 52-week low was $16.95, which indicates that the current value has risen by an impressive 30.48% since then. We note from Beam Therapeutics Inc’s average daily trading volume that its 3-month average coming to 1.28 million.

Beam Therapeutics Inc (NASDAQ:BEAM) trade information

Instantly BEAM has showed a green trend with a performance of 2.35% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -10.43% year-to-date, but still up 0.25% over the last five days. On the other hand, Beam Therapeutics Inc (NASDAQ:BEAM) is 7.31% up in the 30-day period.

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The consensus price target as assigned by Wall Street analysts is $63, which translates to bulls needing to increase their stock price by 61.3% 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 fallen -13.18 percent over the past six months and at a -172.09% annual growth rate that is well below the industry average of 15.50%.

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 -175.80% 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 in July.