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The handful of patients had severe heart disease that had caused chest pain and heart attacks. After trying available cholesterol-lowering medications, they could not get their cholesterol as low as cardiologists recommended. So they volunteered for an experimental cholesterol-lowering treatment using gene editing that was unlike anything tried in patients before. Each had a genetic abnormality, familial hypercholesterolemia, that affects around one million people in the United States. In the United States alone, more than 800,000 people have heart attacks each year.
Organizations: Verve Therapeutics, American Heart Association Locations: Boston, United States
Cramer's Lightning Round: KeyCorp is a buy
  + stars: | 2023-07-20 | by ( Julie Coleman | ) www.cnbc.com   time to read: +2 min
Stock Chart Icon Stock chart icon Illumina's year-to-date stock portfolio. Stock Chart Icon Stock chart icon Compass Pathways' year-to-date stock performance. Stock Chart Icon Stock chart icon KeyCorp's year-to-date stock performance. Stock Chart Icon Stock chart icon Eaton's year-to-date stock performance. Stock Chart Icon Stock chart icon ASML Holding's year-to-date stock performance.
Persons: Eaton, you've, ASML Organizations: Verve Therapeutics, ASML, Taiwan Semi Locations: Informatica, Taiwan
Cathie Wood just scored her best month ever as her innovation stocks staged a big comeback, and some of her darlings still have double-digit upside ahead, according to Wall Street analysts. Wood's flagship Ark Innovation ETF (ARKK) jumped 27.8% in January alone, notching its strongest month since its inception in 2014 . We looked at companies with at least five analysts covering them, and these names below all have more than 10% upside in the next 12 months, according to FactSet. Wall Street analysts are most bullish on Ginkgo Bioworks , seeing the stock rally more than 140% in the next 12 months. Other biotech names in the space that analysts love are Verve Therapeutics , CRISPR Therapeutics , Beam Therapeutics and Twist Bioscience.
BMO Capital Markets sees a big year ahead for biotech company Beam Therapeutics . Analyst Kostas Biliouris upgraded shares to outperform from market perform, saying he expects updates next year on a key partnership will drive upside for the gene-editing technology company. Beam has a partnership with biotech company Verve Therapeutics , which is using Beam's base editing technology for its VERVE-101 program. "We believe these catalysts will have a direct readthrough on BEAM, each driving a ~10%+ upside (stock moves here)." Shares of Beam Therapeutics are down more than 49% in 2022, while Verve Therapeutics is off by about 51%.
Lucid (LCID) – Lucid rallied 5.% in premarket trading after the electric vehicle maker raised more than $1.5 billion in a series of stock sales. Rocket Lab (RKLB) – Rocket Lab fell 1.3% in premarket action after announcing a delay in its first rocket launch from the United States. Rocket Lab cited both poor weather conditions as well as regulatory delays stemming from the processing of documentation by NASA and the Federal Aviation Administration. As a result, Rocket Lab cut its revenue forecast for the fourth quarter. BMO expects positive announcements from Beam's partner Verve Therapeutics (VERV) to help drive the stock higher.
A 13-year-old girl was the world's first patient to get a cell therapy called base editing in May. Base editing is a new gene-editing technology that could lead to cures for many diseases. Alyssa, 13, was the first-ever patient to receive a base-edited cell therapy after enrolling in a clinical trial in May. Base editing allows scientists to make ultraprecise changes to single letters of DNA in cells. Alyssa, a teenager in Leicester, England, received a base-edited cell therapy to treat her leukemia.
CRISPR companies are faring better by producing faster and more dramatic clinical results. A layoff tracker from Fierce Biotech counts at least 90 drug companies that have laid off staff in 2022. Gene-editing biotechs have avoided the brunt of the downturn because of fast clinical successIntellia Therapeutics is developing CRISPR-based gene-editing medicines that could cure diseases. Just in the past month, CRISPR Therapeutics moved into a swanky new headquarters in Boston that can house up to 1,000 people. BeamTo be sure, 2022 hasn't been smooth sailing for the CRISPR companies.
Investors seem to be mounting bets against some biotech and pharma names, including one that has soared in 2022. Short interest in Verve rose to 12 million shares, or 34% of its float, while 27.6 million shares of Allogene were being shorted through the end of September. Retailers Bed Bath & Beyond and Big Lots, along women's fashion company Torrid Holdings, also saw increased short interest. Short interest data is updated twice a month and reported mid-month and at the end of the month. The next release date is Oct. 25 for short interest data as of Oct. 14).
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