Top 11 CRISPR Stocks to Invest In

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6. Beam Therapeutics Inc. (NASDAQ:BEAM)

Number of Hedge Fund Holders: 24

Based in Cambridge, Massachusetts, Beam Therapeutics Inc. (NASDAQ:BEAM) is a biotechnology company at the forefront of precision genetic medicine, leveraging its proprietary base-editing technology. Traditional CRISPR therapies rely on enzymes to create double-stranded breaks in DNA. However, Beam Therapeutics highlights that the repair process can disrupt the gene sequence at the cut site, leading to inconsistent cell effectiveness. With that in mind, the company is focused on developing lifelong treatments for severe diseases and is advancing investigational therapies such as BEAM-101, a personalized treatment for sickle cell disease, and BEAM-201, aimed at specific blood cancers.

BMO Capital has reaffirmed its Outperform rating for Beam Therapeutics Inc. (NASDAQ:BEAM), maintaining a price target of $57. The company recently reported encouraging results from its cell therapy programs for sickle cell disease and beta-thalassemia and has forecasted $74 million in revenue for 2024. Despite projected losses, the company is supported by approximately $1.1 billion in cash and equivalents. A major upcoming milestone is the expected readout for its Alpha-1 Antitrypsin Deficiency (AATD) program in the first half of 2025. BMO Capital also highlighted the potential of BEAM-302, noting that a strong safety profile could drive the stock’s value up by 50% to over 100%.

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