BEAM Stock Summary and Trading Ideas (Beam Therapeutics | NASDAQ:BEAM)

Beam Therapeutics Inc is a biotechnology company engaged in creating genetic medicines based on its base editing technology. This technology enables a new class of genetic medicines that targets a single base in the genome without making a double-stranded break in the DNA. The company's portfolio comprises Gene Correction, Gene Modification, Gene Activation, Gene Silencing, and Multiplex Editing. The company's pipeline programs consist of BEAM-101, ESCAPE, BEAM-302, BEAM-301, and BEAM-201.

Beam Therapeutics trades on the NASDAQ stock market under the symbol BEAM.

As of May 1, 2024, BEAM stock price climbed to $21.74 with 1,272,747 million shares trading.

BEAM has a beta of 2.76, meaning it tends to be more sensitive to market movements. BEAM has a correlation of 0.26 to the broad based SPY ETF.

BEAM has a market cap of $1.79 billion. This is considered a Small Cap stock.

Last quarter Beam Therapeutics reported $316 million in Revenue and $1.73 earnings per share. This beat revenue expectation by $298 million and exceeded earnings estimates by $2.74.

In the last 3 years, BEAM stock traded as high as $138.52 and as low as $16.95.

The top ETF exchange traded funds that BEAM belongs to (by Net Assets): ARKK, VTI, VB, ARKG, XBI.

BEAM has underperformed the market in the last year with a price return of -29.2% while the SPY ETF gained +21.9%. BEAM has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -15.9% and -15.4%, respectively, while the SPY returned +2.3% and -0.6%, respectively.

BEAM support price is $20.46 and resistance is $21.98 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BEAM stock will trade within this expected range on the day.