Beam Therapeutics Inc. (BEAM, Financial), a biotechnology company specializing in gene therapy, saw its stock rise by 5.07%, reaching $27.15 per share. The trading volume was 190,423 shares, with a turnover rate of 0.23% and a price fluctuation of 3.91%.
Recent financial reports indicate Beam Therapeutics achieved a revenue of $14.27 million, though it recorded a net loss of $96.67 million, resulting in an earnings per share (EPS) of -$1.17. The company's gross profit stood at $8.79 million, with a price-to-earnings (P/E) ratio of -17.15.
Analyst ratings show that out of 18 firms covering the stock, 56% recommend buying, while 44% suggest holding. None of the firms advise selling the stock.
The biotechnology sector, where Beam Therapeutics operates, experienced an overall increase of 0.66%. Notable performers in the sector included Neurosense Therapeutics Ltd, Protagenic Therapeutics Inc, and Rocket Pharmaceuticals Inc, which saw significant gains. Meanwhile, Cyclerion Therapeutics, Inc., Outlook Therapeutics, Inc., and Tc Biopharm (Holdings) Plc were notably active, with high turnover rates.
Beam Therapeutics is known for its pioneering base editing technology, which allows precise gene editing without causing double-strand breaks in DNA. The company's portfolio includes projects like BEAM-101, ESCAPE, BEAM-302, BEAM-301, and BEAM-201, focusing on gene correction, modification, activation, silencing, and multiplex editing.
