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Beam Therapeutics (BEAM) Moves 15.6% Higher: Will This Strength Last?
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Beam Therapeutics Inc. (BEAM - Free Report) shares rallied 15.6% in the last trading session to close at $28.78. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.6% gain over the past four weeks.
Beam Therapeutics stock rose about 16% on promising early data for BEAM-301, its experimental gene-editing treatment for glycogen storage disease type Ia (GSDIa). The treatment improved fasting tolerance and glucose control in six patients, with two patients in the 40 mg dose group no longer needing daily starch supplements. Despite some serious adverse events, Beam plans to test a higher dose and discuss the potential approval pathway with the FDA.
This company is expected to post quarterly loss of $1.16 per share in its upcoming report, which represents a year-over-year change of -5.5%. Revenues are expected to be $11.06 million, up 14.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Beam Therapeutics, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BEAM going forward to see if this recent jump can turn into more strength down the road.
Beam Therapeutics is part of the Zacks Medical - Biomedical and Genetics industry. Vir Biotechnology, Inc. (VIR - Free Report) , another stock in the same industry, closed the last trading session 3.1% higher at $11.93. VIR has returned 8.6% in the past month.
For Vir Biotechnology, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.8. This represents a change of +31.6% from what the company reported a year ago. Vir Biotechnology currently has a Zacks Rank of #3 (Hold).
View the Zacks #1 Rank List
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Beam Therapeutics (BEAM) Moves 15.6% Higher: Will This Strength Last?
Beam Therapeutics Inc. (BEAM - Free Report) shares rallied 15.6% in the last trading session to close at $28.78. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.6% gain over the past four weeks.
Beam Therapeutics stock rose about 16% on promising early data for BEAM-301, its experimental gene-editing treatment for glycogen storage disease type Ia (GSDIa). The treatment improved fasting tolerance and glucose control in six patients, with two patients in the 40 mg dose group no longer needing daily starch supplements. Despite some serious adverse events, Beam plans to test a higher dose and discuss the potential approval pathway with the FDA.
This company is expected to post quarterly loss of $1.16 per share in its upcoming report, which represents a year-over-year change of -5.5%. Revenues are expected to be $11.06 million, up 14.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Beam Therapeutics, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BEAM going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Beam Therapeutics is part of the Zacks Medical - Biomedical and Genetics industry. Vir Biotechnology, Inc. (VIR - Free Report) , another stock in the same industry, closed the last trading session 3.1% higher at $11.93. VIR has returned 8.6% in the past month.
For Vir Biotechnology, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.8. This represents a change of +31.6% from what the company reported a year ago. Vir Biotechnology currently has a Zacks Rank of #3 (Hold).