5 Best Gene Editing Stocks To Buy

1. AbbVie Inc. (NYSE:ABBV)

Number of Hedge Fund Holders: 71

AbbVie Inc. (NYSE:ABBV) is headquartered in North Chicago, Illinois, and the company manufactures and sells pharmaceuticals worldwide. In February 2021, AbbVie Inc. (NYSE:ABBV) announced a collaboration with Caribou Biosciences, Inc. (NASDAQ:CRBU), where they planned to work together to improve CAR-T cell therapies with the help of CRISPR gene editing technology. AbbVie Inc. (NYSE:ABBV) is one of the best gene editing stocks to consider. 

On September 9, AbbVie Inc. (NYSE:ABBV) declared a per share quarterly dividend of $1.41, in line with previous. The dividend is distributable on November 15, to shareholders of record on October 14. The dividend yield on October 14 came in at 3.95%. 

JPMorgan analyst Chris Schott said on September 21 that AbbVie Inc. (NYSE:ABBV) continues to be one of his favorite large cap ideas as investor focus centers on Humira generics and the company’s trough earnings profile. The analyst sees an attractive setup for AbbVie Inc. (NYSE:ABBV) stock given further clarity on Humira generic dynamics expected over the next few quarters. The analyst continues to see a solid case for multiple expansion and reiterated an Overweight rating on the shares with a $180 price target.

According to Insider Monkey’s data, 71 hedge funds held stakes worth $2.8 billion in AbbVie Inc. (NYSE:ABBV) at the end of June 2022, compared to 76 funds in the prior quarter worth $3.6 billion. Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital is the largest stakeholder of the company, with 4.2 million shares valued at $654 million. 

Here is what ClearBridge Investments said about AbbVie Inc. (NYSE:ABBV) in its Q2 2022 letter:

“We added to our health care exposure in the quarter with the purchases of Straumann Holding (OTCPK:SAUHF), a Swiss manufacturer of medical instruments, implants and related supplies for dental procedures, in the secular bucket and U.S. pharmaceutical maker AbbVie Inc. (NYSE:ABBV) in the structural bucket. Straumann is the global market leader in dental implants with 29% overall share, a meaningful position within premium implants and smaller share in value implants. The company is also involved in clear aligners through a series of acquisitions as well as peripheral capital equipment around those businesses.

Growth will come from increasing share in both value implants and clear aligners through expansion in emerging markets on top of market growth in its premium implant business. AbbVie is undergoing a transition in anticipation of loss of exclusivity for its blockbuster Humira in the next several years with several commercial therapeutics, led by Skyrizi for psoriasis and Rinvoq for rheumatoid arthritis.”

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