10 Most Promising Gene Editing Stocks to Buy According to Hedge Funds

8. Beam Therapeutics Inc. (NASDAQ:BEAM)

Number of Hedge Fund Holders: 21

Average Upside: 112.53%

Beam Therapeutics Inc. (NASDAQ:BEAM) is a biotechnology firm specializing in precision genetic medicines through a technique called base editing. This approach allows precise DNA changes without cutting the strands, reducing potential side effects compared to traditional gene-editing methods. The company is also advancing several investigational therapies, including BEAM-101, a personalized treatment for sickle cell disease, and BEAM-201, targeting specific blood cancers.

For Q2, Beam Therapeutics Inc. (NASDAQ:BEAM) reported mixed results, with an EPS of -$1.11, beating the analyst estimate of -$1.13, though revenue fell short at $11.77 million versus the $13.73 million consensus. On the other hand, the company also received U.S. FDA clearance for the Investigational New Drug Application for BEAM-301 in GSDIa. Additionally, over 20 patients have enrolled, with six dosed, in the BEACON Phase 1/2 trial for BEAM-101 in severe sickle cell disease.

Analysts remain cautiously optimistic about Beam Therapeutics Inc. (NASDAQ:BEAM). Stifel’s Dae Gon Ha reaffirmed a Buy rating on the company’s stock and raised the price target to $69 in September, citing industry data that supports Beam’s DNA editing approach.

According to Insider Monkey’s second-quarter data, 21 hedge funds held positions in Beam Therapeutics, a slight decrease from 23 in the previous quarter.