Beam data ‘encouraging,’ support continuation of trial, says H.C. Wainwright

H.C. Wainwright analyst Patrick Trucchio reiterates a Buy rating and $80 price target on Beam Therapeutics (BEAM) shares after the company announced positive initial data from the first three single-ascending dose cohorts in Part A of its ongoing Phase 1/2 dose-escalation trial evaluating BEAM-302, an in vivo lipid nanoparticle liver-targeted adenine base editor designed to correct the disease-causing PiZ mutation in patients alpha-1 antitrypsin deficiency. The initial data are “encouraging,” supporting continuation of the Phase 1/2 trial, which could support advancement of BEAM-302 to a registrational program if positive, the analyst tells investors in a research note.