10 Best Emerging Technology Stocks to Buy Now

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1. Beam Therapeutics Inc. (NASDAQ:BEAM)

Focus Area: Gene editing via base editing

Potential Upside: 58%

Number of Hedge Fund Holders: 35

Beam Therapeutics Inc. (NASDAQ:BEAM) operates as a biotechnology company and develops DNA base editing technologies for the treatment of diseases.

Beam Therapeutics’ specialization lies in base editing which is potentially the best-in-class gene editing technology. This technology allows precise modifications without cutting the DNA strands. Such an approach aims to treat genetic diseases with high specificity and reduced risks. Their technology offers potential advantages over traditional gene-editing methods. As of the end of December 2024, the company had over $850 million in cash which was expected to fund operations till 2027.

On February 11, William Blair analyst Sami Corwin reiterated his Buy rating on Beam Therapeutics Inc. (NASDAQ:BEAM). His bullish outlook was driven by progress toward clinical trials of its BEACON trial of BEAM-101 therapy to treat sickle cell disease. In addition, it is expected to release clinical data in a number of therapies by mid-2025 which should also act as catalysts for share price. On the other side, a Scotiabank analyst also raised his price target on the shares to $25 from $24, but kept a Sector Perform rating due to his cautious stance on upcoming clinical data releases.

While we acknowledge the potential of BEAM to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BEAM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires

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