BEAM - Cathie Wood Loves This Beaten-Down Stock. But Is It in Trouble?
2023-10-25 05:50:00 ET
Cathie Wood doesn't mind going against the grain. In the past, she's made big bets with her Ark Invest funds that haven't been in sync with the conventional wisdom. And she appears to be doing it again with Beam Therapeutics (NASDAQ: BEAM) .
Shares of Beam Therapeutics have plunged more than 50% year to date. That hasn't phased Wood one bit. She loves this beaten-down stock. But is it in trouble?
Beam Therapeutics is a leader in developing base-editing therapies. Instead of cutting DNA as most gene-editing approaches do, base editing chemically modifies a DNA base to make it another base. It's similar to erasing a letter in a word and writing in a new letter.
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Cathie Wood Loves This Beaten-Down Stock. But Is It in Trouble?