Ark Invest Stock Portfolio: Top 10 Picks

7. CRISPR Therapeutics AG (NASDAQ:CRSP)

Number of Hedge Fund Investors  in Q1 2024: 27

Ark Investment Management’s Q2 2024 Stake: $420 million

CRISPR Therapeutics AG (NASDAQ:CRSP) is a gene editing company that is known for its CRISPR Cas9 gene editing platform. A biotechnology stock, CRISPR Therapeutics AG (NASDAQ:CRSP)’s shares depend on its ability to sign deals with large pharma companies to commercialize its products and develop and test products that are suitable for commercialization. This was also the case in November 2023 when CRISPR Therapeutics AG (NASDAQ:CRSP)’s shares jumped by 14% in a day after the UK became the first country to approve a sickle cell therapy developed through its platform. At the same time, securing approval is only one part of the valuation, and as evidenced in 2024, CRISPR Therapeutics AG (NASDAQ:CRSP)’s shares have struggled. This is because the market does not expect major revenue contributions from the sickle cell treatment called Casgevy, based on statements made by the medicine’s primary developer, Vertex Pharmaceuticals. Vertex paid CRISPR Therapeutics AG (NASDAQ:CRSP) $170 million in 2023 as milestone payments, and CRISPR is eligible for another $130 million which leaves some room for future growth.