Beam Therapeutics Inc [BEAM] Is Currently 25.89 below its 200 Period Moving Avg: What Does This Mean?

Beam Therapeutics Inc [NASDAQ: BEAM] closed the trading session at $45.07. The company report on February 27, 2024 at 6:30 AM that Beam Therapeutics Reports Fourth Quarter and Year-End 2023 Financial Results and Reiterates Anticipated Milestones.

Patient Dosing and Enrollment Continue to Progress in Beacon Phase 1/2 Study of BEAM-101 in Severe Sickle Cell Disease; First Clinical Data Anticipated in Second Half of 2024.

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Phase 1 Trial Initiation for BEAM-302 in Alpha-1 Antitrypsin Deficiency on Track for First Half of 2024 Pending European Clinical Trial Application (CTA) Acceptance.

The stocks have a year to date performance of 65.58 percent and weekly performance of 41.73 percent. The stock has been moved at 94.18 percent over the last six months. The stock has performed 85.55 percent around the most recent 30 days and changed 51.90 percent over the most recent 3-months.

If compared to the average trading volume of 1.31M shares, BEAM reached to a volume of 7422830 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $47.75 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 2.00. 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.

JP Morgan have made an estimate for Beam Therapeutics Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 29, 2024. The new note on the price target was released on December 15, 2023, representing the official price target for Beam Therapeutics Inc stock. Previously, the target price had yet another drop from $75 to $30, while Jefferies kept a Hold rating on BEAM stock. On October 20, 2023, analysts decreased their price target for BEAM shares from 75 to 20.

The Average True Range (ATR) for Beam Therapeutics Inc is set at 2.90, with the Price to Sales ratio for BEAM stock in the period of the last 12 months amounting to 9.72. The Price to Book ratio for the last quarter was 4.59, with the Price to Cash per share for the same quarter was set at 14.60.

BEAM stock trade performance evaluation

Beam Therapeutics Inc [BEAM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 41.73. With this latest performance, BEAM shares gained by 85.55% in over the last four-week period, additionally plugging by 94.18% over the last 6 months – not to mention a rise of 15.80% 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 79.86, with the RSI for the last a single of trading hit 85.87, and the three-weeks RSI is set at 74.99 for Beam Therapeutics Inc [BEAM]. The present Moving Average for the last 50 days of trading for this stock 28.36, while it was recorded at 36.03 for the last single week of trading, and 27.62 for the last 200 days.

Beam Therapeutics Inc [BEAM]: An insightful look at the core fundamentals

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.

Earnings per share (EPS) analysis for Beam Therapeutics Inc [BEAM] stock

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%.

Beam Therapeutics Inc [BEAM]: Institutional Ownership

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%.