One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Beam Therapeutics stock now clears that threshold, with a jump from 65 to 85 Wednesday.
IBD's proprietary rating tracks market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the last 52 weeks stacks up against all the other stocks in our database.
History reveals that the best stocks often have an 80 or better RS Rating as they begin their biggest runs.
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Is Beam Therapeutics Stock A Buy?
Beam Therapeutics stock recently reclaimed its 200-day moving average. While now is not an ideal time to buy shares, see if the biotech stock goes on to offer and clear a proper buy point.
The biotech company showed 0% earnings growth last quarter, while sales growth came in at -69%. The next quarterly numbers are expected on or around Aug. 6.
Beam Therapeutics stock earns the No. 144 rank among its peers in the Medical-Biomed/Biotech industry group. ADMA Biologics, Halozyme Therapeutics and United Therapeutics are among the top 5 highly rated stocks within the group. For more industry news, check out "Biotech And Pharmaceutical Industry And Stock News."
