5 Genomics Stocks in Cathie Wood’s Portfolio That Are Underperforming

1. CRISPR Therapeutics AG (NASDAQ:CRSP)

Number of Hedge Fund Holders: 34

Decline in Share Price in the Last 6 Months: 53.38%

CRISPR Therapeutics AG (NASDAQ:CRSP) is a Switzerland-based biotechnology company that uses CRISPR/Cas9 technology to create transformative therapies and gene-based medicines. Cathie Wood elevated her CRISPR Therapeutics AG (NASDAQ:CRSP) stake by 20% in Q4 2021, holding more than 9 million shares of the company, worth $688.6 million, representing 2.08% of the total 13F securities at ARK Investment Management. The stock declined 53.38% in the last six months. 

On February 15, CRISPR Therapeutics AG (NASDAQ:CRSP) reported its fourth quarter results. The company posted a loss per share of $1.84, missing estimates by $0.06. Revenue over the period came in at $12.90 million, outperforming market consensus by $10.64 million. 

Stifel analyst Benjamin Burnett on February 16 lowered the price target on CRISPR Therapeutics AG (NASDAQ:CRSP) to $64 from $100 and kept a Hold rating on the shares following the company’s Q4 report. While he contends the valuation is “becoming interesting” and shares look “enticing” amid the pullback, and admits he “strongly contemplated a valuation-based upgrade”, his cautious view regarding a catalyst for the shares kept him on the sidelines, the analyst told investors.

Among the hedge funds tracked by Insider Monkey, EcoR1 Capital held a significant stake in CRISPR Therapeutics AG (NASDAQ:CRSP) in Q4 2021, with over 1 million shares worth $81.6 million. Overall, 34 hedge funds were bullish on the stock in the fourth quarter of 2021. 

You can also take a look at Top 10 Tech and Automation Stocks in Cathie Wood’s Portfolio and 10 Biotech Stocks To Buy According To Chinese Billionaire Lei Zhang. 

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