Citi analyst Samantha Semenkow has maintained their bullish stance on BEAM stock, giving a Buy rating on November 9.
Samantha Semenkow’s Buy rating for Beam Therapeutics is based on a combination of factors, primarily stemming from the promising results of the first human proof-of-concept data for a base-editing therapy. She perceives this data as a significant de-risking factor for Beam’s in vivo liver programs, including BEAM-302 in AATD and BEAM-301 in GSD1a.
The first reason for this optimism is the encouraging data from the VERVE-101 trial, which demonstrates that in vivo base editing is indeed viable in humans. The results bore out robust editing using PCSK9 as a proxy. The editing bar for AATD and GSD1a conditions is lower than for HeFH, implying a higher feasibility. The second reason is the similarity between the adenosine base editor and LNP used in VERVE-101 and those used in BEAM-302 and BEAM-301. This similarity further supports the potential success and applicability of Beam Therapeutics’ in vivo liver programs.
In another report released on November 9, BMO Capital also maintained a Buy rating on the stock with a $57.00 price target.
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Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BEAM in relation to earlier this year.
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Beam Therapeutics (BEAM) Company Description:
Beam Therapeutics, Inc. develops and commercializes DNA base editing technologies for the treatment of human disease. Its licensed technology platform, which includes access to base editing technologies and associated technologies that enhance the scope of base editing. The company was founded by David R. Liu, Feng Zhang and J. Keith Joung on January 25, 2017 and is headquartered in Cambridge, MA.
Read More on BEAM:
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- Beam Therapeutics reports Q3 EPS ($1.22), consensus ($1.35)
- BEAM Earnings this Week: How Will it Perform?
