Beam Shares Rise As Q4 Results Beat Street

(RTTNews) - Shares of Beam Therapeutics Inc. (BEAM) climbs 29% on Tuesday after the company reported fourth-quarter earnings and revenue that beat the Street estimates.

BEAM is trading on the Nasdaq at $46.28, up 29.27% or $10.48 per share. It has traded between $16.95 and $49.50 in the past 52-week period.

The company reported a net income of $142.8 million or $1.73 per share for the quarter, compared to the loss of $36.1 million or $0.54 per share the prior year.

Analysts on average had expected a loss of $1.01 per share, according to figures compiled by Thomson Reuters.

Revenue increased to $316.2 million from $20.0 million the previous year. It beat the consensus estimate of $18.67 million.