Beam Therapeutics surges 14.42% intraday on analyst upgrades and ARK Investments' stock purchase.

Beam Therapeutics surged 14.42% intraday following a confluence of bullish catalysts, including analyst upgrades and sector momentum. The stock led gains in the gene editing sector amid positive sentiment driven by Bernstein’s reaffirmed Buy rating with a $32 price target and Evercore ISI’s initiation of coverage at Outperform with a $35 target. These upgrades, combined with Clear Street raising its price target to $37 post-Q3 results, signaled renewed confidence in Beam’s pipeline, particularly its sickle cell disease therapy BEAM-101. Institutional activity, including purchases by Geode Capital and ARK Investment Management, further fueled demand. Despite underlying financial challenges, the stock’s intraday rally reflected short-term optimism around clinical progress and analyst-driven momentum in the biotech space.