Cathie Wood Is Buying This Up-and-Coming Biotech Stock. Should You Follow Her Lead?
Beam Therapeutics' growing pipeline could reward patient investors.
Overview
Cathie Wood of Ark Invest first bought shares of Beam Therapeutics (NASDAQ: BEAM), a biotech focused on precision genetic treatments, in 2020. She's continued to acquire shares since then, with her most recent purchases last week clocking in at around $4 million.
Today, Wood's position in Beam is worth more than $300 million. That's not trivial, even for Wood. Of course, the question is: When it comes to Beam, should you follow her lead? I maintain that if you're comfortable with the risks of an early-stage biotech company, you should.
Details
CRISPR gene editing involves cutting both strands of DNA before inserting or removing genetic material. Beam Therapeutics, however, uses a different technology called base editing.
Source
Originally published at www.fool.com.