Is Beam Therapeutics a Good Stock to Buy Now?
Risky biotechnology start-ups that soared in recent years can't catch a break in 2022. Beam Therapeutics (NASDAQ: BEAM) recently signed a major research deal with Pfizer (NYSE: PFE) that could be worth up to $1.35 billion, and hardly anyone seemed to notice.
This was clearly great news for Beam Therapeutics, but a stock market scorned for clinical-stage biotech stocks didn't respond the way anyone familiar with the company would have expected. Instead of surging higher in response to the Pfizer deal, Beam Therapeutics stock actually fell nearly 2% on the day of the announcement.
Nearly all biotech stocks are in the doghouse lately and it looks like the market may have missed something here. Let's look closer to see if Beam Therapeutics is a smart buy at the moment.
Source Fool.com
