Gene Editing Stock on TIME100 Drops 8% in a Day

Beam Therapeutics Inc. (NASDAQ: BEAM) closed at $29.31 on the Nasdaq on the 13th, down 7.97% from the previous trading day. Trading volume topped 1.8 million shares, and its market capitalization stood at about $3 billion (roughly KRW 4 trillion), with around $220 million (approximately KRW 300 billion) erased in a single day.

On May 7, the company reported its first-quarter 2026 financial results along with a pipeline update. On the 13th, it announced its participation in the RBC Capital Markets Global Healthcare Conference, while H.C. Wainwright reiterated its Buy rating and $80 price target. Earlier, the New England Journal of Medicine published early clinical data for its sickle cell disease therapy candidate, risto-cel, highlighting the potential for a biologics license application by year-end and underscoring its progress in gene editing–based therapeutics.

Beam Therapeutics is a Cambridge, Massachusetts–based biotech firm developing precision genetic medicines for inherited disorders such as sickle cell disease and alpha-1 antitrypsin deficiency using base editing technology. Since its founding in 2017, Beam has partnered with major pharmaceutical companies to advance multiple candidates—including risto-cel, BEAM-302, and BEAM-304—through preclinical and clinical development stages, focusing on liver and blood disorders. Recently, Time magazine recognized Beam as one of the 100 most influential companies.