5 Best Gene Editing Stocks To Buy

2. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Number of Hedge Fund Holders: 45

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is a Boston-based biotechnology company that develops and commercializes therapies for treating cystic fibrosis. On September 28, MaxCyte, Inc. (NASDAQ:MXCT) announced that it has signed a non-exclusive licensing deal with Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), allowing the latter to use MaxCyte’s Flow Electroporation technology and ExPERT platform to develop the gene-edited therapy exa-cel, previously known as CTX001. Vertex is already developing exa-cel, currently in phase 2/3, with CRISPR Therapeutics AG (NASDAQ:CRSP). Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is one of the best gene editing stocks to purchase. 

On September 27, after Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) and CRISPR Therapeutics AG (NASDAQ:CRSP) announced that Vertex has concluded discussions with the FDA and will submit its biologics licensing application for exa-cel for a review starting in November and expects to finish the submission by the end of Q1 2023, Morgan Stanley analyst Matthew Harrison called the timeline “better than feared.” Investors had worried the U.S. filing may not occur until Q4 2023, so this news is optimistic, noted the analyst. He maintained an Equal Weight rating and a $253 price target on Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) shares.

According to Insider Monkey’s data, 45 hedge funds were long Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) at the end of Q2 2022, compared to 49 funds in the prior quarter. Jim Simons’ Renaissance Technologies is the leading position holder in the company, with 1.76 million shares worth over $496 million. 

Here is what Carillon Tower Advisers specifically said about Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in its Q2 2022 investor letter:

“Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), a provider of cystic fibrosis medications, rallied on a better outlook for its new product pipeline and fading concerns about potential competitive offerings in cystic fibrosis. The stock also may have attracted significant investor attention as a potential safety trade due to its relative low valuation and defensive business characteristics.”