Beam Therapeutics Inc [BEAM] is -8.16% lower this YTD. Is it still time to buy?

Beam Therapeutics Inc [NASDAQ: BEAM] gained 0.97% on the last trading session, reaching $25.00 price per share at the time. The company report on January 8, 2024 at 6:30 AM that Beam Therapeutics Highlights Progress Across Base Editing Portfolio and Outlines 2024 Anticipated Milestones.

First Patient Dosed and Successfully Engrafted in BEACON Phase 1/2 Trial of BEAM-101 in Patients with Severe Sickle Cell Disease; Significant Enrollment Progress Supports First Expected Clinical Data Readout in Second Half of 2024.

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European Clinical Trial Application (CTA) Submitted for BEAM-302; Trial Initiation in Alpha-1 Antitrypsin Deficiency Planned for First Half of 2024.

If compared to the average trading volume of 1.44M shares, BEAM reached a trading volume of 4638647 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Beam Therapeutics Inc [BEAM]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BEAM shares is $45.38 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BEAM stock is a recommendation set at 2.07. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Beam Therapeutics Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 15, 2023.

The Average True Range (ATR) for Beam Therapeutics Inc is set at 1.67, with the Price to Sales ratio for BEAM stock in the period of the last 12 months amounting to 24.98. The Price to Book ratio for the last quarter was 2.55, with the Price to Cash per share for the same quarter was set at 12.46.

Trading performance analysis for BEAM stock

Beam Therapeutics Inc [BEAM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.40. With this latest performance, BEAM shares dropped by -9.52% in over the last four-week period, additionally sinking by -20.76% over the last 6 months – not to mention a drop of -43.87% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BEAM stock in for the last two-week period is set at 44.23, with the RSI for the last a single of trading hit 43.30, and the three-weeks RSI is set at 46.05 for Beam Therapeutics Inc [BEAM]. The present Moving Average for the last 50 days of trading for this stock 27.12, while it was recorded at 24.21 for the last single week of trading, and 27.81 for the last 200 days.

Beam Therapeutics Inc [BEAM]: A deeper dive into fundamental analysis

Beam Therapeutics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.72 and a Current Ratio set at 4.72.

Beam Therapeutics Inc [BEAM]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Beam Therapeutics Inc posted -0.54/share EPS, while the average EPS was predicted by analysts to be reported at -1.33/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 59.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BEAM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Beam Therapeutics Inc go to 4.10%.

An analysis of Institutional ownership at Beam Therapeutics Inc [BEAM]

The top three institutional holders of BEAM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BEAM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BEAM stock with ownership which is approximately 5.8325%.