Top 10 CRISPR Stocks To Buy

Published on April 20, 2023 at 6:24 pm by Hamna Asim in Hedge Funds, News

In this article, we discuss the top 10 CRISPR stocks to buy. If you want to see more stocks in this selection, check out Top 5 CRISPR Stocks To Buy.

Molecular biology, genetics, and genomics are in a significant period in history where technical capabilities and methods enable the editing of specific DNA segments and base pairs in living organisms and cells. The convergence of clustered regularly interspaced short palindromic repeat (CRISPR) genome editing, along with advancements in computing and imaging technology, has ushered in a new era where scientists can diagnose and predict human diseases based on personal genetics, as well as take action on this information. Over the last decade, RNA-programmed genome editors have been discovered, engineered, and used in various applications. These editors use the fundamental ability of CRISPR-Cas9 to create targeted genetic disruptions in genes or gene regulatory elements, leading to successful creation of knockout mice and other animal models, genetic screening, and multiplexed editing. In addition to traditional CRISPR-Cas9 knockouts, the use of base editing, which involves engineered Cas9 enzymes that can modify the chemical structure of DNA bases, has proven to be a useful strategy for generating specific and precise point mutations at desired sites.

According to Allied Market Research, in 2021, the gene editing market worldwide had a value of $3.9 billion, and it is expected to grow at a compound annual growth rate (CAGR) of 6.7% from 2022 to 2031, reaching a value of $7.4 billion by 2031. Genomics can be applied in various fields such as identifying human genetic abnormalities, drug discovery, agriculture, veterinary sciences, and forensics. There have been significant developments in the CRISPR space. For example, a one-time gene editing therapy developed by Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) and CRISPR Therapeutics AG (NASDAQ:CRSP) for treating sickle cell disease could be considered cost-effective if priced at a maximum of $1.9 million. The companies are seeking approval for the world’s first therapy that utilizes the Nobel prize-winning CRISPR technology, to treat two types of blood disorders – sickle cell disease and transfusion-dependent beta thalassemia.

Cathie Wood, the founder of ARK Invest who is known for her innovative and disruptive investment strategies, focuses on technologies such as robotics, artificial intelligence, and genomics. Cathie Wood stated in a 2018 video that “monogenic stem cell therapy” could generate $2 trillion in revenue, while “polygenic” versions of the therapy could be worth “many trillions” more. This is one example of the bold statements Wood frequently makes. In recent months, Wood has had to defend her investment strategy after many of the companies in her funds were heavily impacted by a significant market correction.

On January 4, 2023, Wood mentioned a BBC news article that reported on Alyssa, a patient diagnosed with T-cell acute lymphoblastic leukemia, who was successfully treated with the help of base editing by doctors at Great Ormond Street Hospital. Despite this breakthrough, Wood noted that the news was overshadowed by the financial market downturn in 2022, and some analysts are even disregarding the technology’s potential. Elon Musk also favored Wood’s stance on the gene editing market outlook. Markets Insider cited Cathie Wood, who noted that investors are fleeing from gene editing stocks given their downward market performance:

“In our view, US equity markets today are 180 degrees away from those in the tech and telecom bubble in the late nineties. Unlike the case then, the technologies are ready and the costs are low enough for prime time. Investors chased the dream then. Now, they are running away.”

Some of the best CRISPR stocks to buy in order to benefit from this emerging sector include CRISPR Therapeutics AG (NASDAQ:CRSP), Intellia Therapeutics, Inc. (NASDAQ:NTLA), and Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX). Investors can also check out 11 Most Promising Gene Editing Stocks and 10 Most Promising Gene Therapy Companies.

Photo by CDC on Unsplash

Our Methodology

We scanned Insider Monkey’s database of 943 hedge funds and picked the top 10 companies that provide services in the CRISPR market with the highest number of hedge fund investors. These are the best CRISPR stocks to buy according to hedge funds.

Top CRISPR Stocks to Buy

10. Twist Bioscience Corporation (NASDAQ:TWST)

Number of Hedge Fund Holders: 17

Twist Bioscience Corporation (NASDAQ:TWST) is a company that deals with synthetic biology, producing and vending synthetic DNA-based products. Twist Bioscience Corporation (NASDAQ:TWST)’s DNA synthesis platform enables the manufacturing of synthetic DNA by writing DNA on a silicon chip. Their selection of products includes synthetic genes, sample preparation tools, antibody libraries for developing and discovering drugs, and DNA as a form of digital data storage.

On February 6, Catherine Ramsey Schulte, an analyst at Baird, maintained an Outperform rating on Twist Bioscience Corporation (NASDAQ:TWST) but reduced the price target on the shares from $33 to $29. The analyst stated that although there are some areas of short-term weakness as the company begins to increase commercial volumes in their Factory of the Future, management remains positive about their primary business. The analyst also indicated that the company’s revenue guidance for 2023 remains unchanged.

According to Insider Monkey’s fourth quarter database, 17 hedge funds were long Twist Bioscience Corporation (NASDAQ:TWST), compared to 18 funds in the prior quarter. Cathie Wood’s ARK Investment Management held the largest stake in the company, with 6.70 million shares worth $159.5 million.

Like CRISPR Therapeutics AG (NASDAQ:CRSP), Intellia Therapeutics, Inc. (NASDAQ:NTLA), and Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), Twist Bioscience Corporation (NASDAQ:TWST) is one of the best CRISPR stocks to watch.

Jackson Square Partners made the following comment about Twist Bioscience Corporation (NASDAQ:TWST) in its Q3 2022 investor letter:

“Twist Bioscience Corporation (NASDAQ:TWST): market leader in synthetic DNA manufacturing with its highly differentiated silicon platform; poised to unlock a multi-year outsourcing wave as new manufacturing processes and products dramatically improve the turnaround time, cost, and quality of silicon-based DNA manufacturing.”

9. Beam Therapeutics Inc. (NASDAQ:BEAM)

Number of Hedge Fund Holders: 18

Beam Therapeutics Inc. (NASDAQ:BEAM) is a biotech company in the US that focuses on the development of genetic medicines for serious diseases. They have research collaborations with Pfizer, Apellis Pharmaceuticals, Verve Therapeutics, Sana Biotechnology, Orbital Therapeutics, and the Institute of Molecular and Clinical Ophthalmology Basel for various diseases such as genetic diseases of the liver, muscle, and central nervous system, cardiovascular disease, impaired vision, and blindness. Beam Therapeutics Inc. (NASDAQ:BEAM) is one of the best CRISPR stocks to invest in. On February 28, the company reported a Q4 GAAP EPS of -$0.54 and a revenue of $20.04 million, outperforming Wall Street estimates by $0.81 and $7.31 million, respectively.

On March 21, William Pickering, an analyst at Bernstein, began coverage of Beam Therapeutics Inc. (NASDAQ:BEAM) with a Market Perform rating and a price target of $37. Although the analyst has enthusiasm for the company’s technology, they are unable to meet the consensus estimates without assuming significant revenue from future pipeline assets that have not been identified yet. Therefore, the firm’s estimated revenue from sickle cell disease and most of Beam Therapeutics Inc. (NASDAQ:BEAM)’s other assets fall below the consensus.

According to Insider Monkey’s fourth quarter database, 18 hedge funds were bullish on Beam Therapeutics Inc. (NASDAQ:BEAM), compared to 27 funds in the prior quarter. Thomas Steyer’s Farallon Capital is a prominent stakeholder of the company, with 3.4 million shares worth approximately $133 million.

Here is what Baron Health Care Fund has to say about Beam Therapeutics Inc. (NASDAQ:BEAM) in their Q1 2021 investor letter:

“Beam Therapeutics Inc. is a biotechnology company pioneering a novel technology called base editing, which allows for individual base pairs (the letters of DNA) to be modified. Shares fell along with other biotechnology stocks driven by a sudden rise in treasury yields. Early stage biotechnology stocks are particularly sensitive to interest rates because their cash flows are further in the future. We believe we are entering into a phase of significant advancement for the gene editing field that will eventually lead to curative therapies, and we think Beam has a unique platform technology.”

8. Editas Medicine, Inc. (NASDAQ:EDIT)

Number of Hedge Fund Holders: 20

Editas Medicine, Inc. (NASDAQ:EDIT) is a clinical stage genome editing company, focused on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary gene editing platform based on CRISPR technology. It is one of the best CRISPR stocks to invest in.

On February 23, Geulah Livshits, an analyst at Chardan, reduced the price target for Editas Medicine, Inc. (NASDAQ:EDIT) from $35 to $22. Despite this, Livshits maintained a Buy rating on the shares following the fiscal 2022 results. Editas Medicine, Inc. (NASDAQ:EDIT) has reaffirmed its guidance for a data update in the mid-23 on EDIT-301, an ex vivo gene-edited hematopoietic stem cell therapy for sickle cell disease. According to the analyst, the company is undergoing a retrenchment phase after stopping internal investments in inherited retinal diseases and preclinical iNK programs.

According to Insider Monkey’s fourth quarter database, 20 hedge funds were bullish on Editas Medicine, Inc. (NASDAQ:EDIT), compared to 21 funds in the prior quarter. Michael Rockefeller and Karl Kroeker’s Woodline Partners is the biggest stakeholder of the company, with 2 million shares worth $18.4 million.

7. Verve Therapeutics, Inc. (NASDAQ:VERV)

Number of Hedge Fund Holders: 23

Verve Therapeutics, Inc. (NASDAQ:VERV) focuses on creating gene editing medications to treat cardiovascular diseases. The company has collaborated with and obtained license agreements from Beam Therapeutics, entered into a development and option agreement with Acuitas Therapeutics, and acquired a Cas9 license agreement with The Broad Institute and the President and Fellows of Harvard College. It is one of the best CRISPR stocks to invest in. On March 2, Verve Therapeutics, Inc. (NASDAQ:VERV) reported a Q4 GAAP EPS of -$0.67 and a revenue of $1.01 million, beating market estimates by $0.09 and $0.57 million, respectively.

Whitney Ijem, an analyst at Canaccord, initiated coverage of Verve Therapeutics, Inc. (NASDAQ:VERV) with a Buy rating and a price target of $29 on April 11. The analyst cited the company’s advanced gene-editing technology, clinically validated non-viral delivery methods, and well-established genetic targets as reasons for the favorable rating. The firm has taken into account some commercial concerns that need to be addressed, but it has made conservative market share assumptions and still sees significant potential for combined peak sales of over $5 billion for the company’s leading programs, VERVE-101 and VERVE-201.

According to Insider Monkey’s fourth quarter database, 23 hedge funds were long Verve Therapeutics, Inc. (NASDAQ:VERV), compared to 18 funds in the prior quarter. Eli Casdin’s Casdin Capital is the largest stakeholder of the company, with 2.3 million shares worth $44.3 million.

6. Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Number of Hedge Fund Holders: 25

Pacific Biosciences of California, Inc. (NASDAQ:PACB) manufactures and designs equipment for sequencing that is used to solve problems involving complex genetics. The company offers sequencing systems, as well as consumable products like single molecule real-time (SMRT) cells and specialized reagent kits made for specific workflows. In the fourth quarter of 2022, Pacific Biosciences of California, Inc. (NASDAQ:PACB) received record orders, including orders for 96 instruments, which included orders for 76 Revio systems from 43 customers across 13 countries and representing a wide range of applications.

On March 31, TD Cowen analyst Dan Brennan upgraded Pacific Biosciences of California, Inc. (NASDAQ:PACB) to Outperform from Market Perform with a price target of $15, up from $13. The company is viewed as a “growth transformation story” under the leadership of CEO Christian Henry, and investor sentiment has become more positive. However, the stock’s high multiple and expectations may deter some investors. According to the firm’s customer survey, there is potential for growth in placements and pull through, as well as a shift towards long-read sequencing in budget allocations. TD Cowen believes that it is a good time to invest in this multi-year story, as long-read sequencing technology will become more significant in the genomics and sequencing market, and Pacific Biosciences of California, Inc. (NASDAQ:PACB) is likely to benefit from this trend.

According to Insider Monkey’s fourth quarter database, 25 hedge funds were long Pacific Biosciences of California, Inc. (NASDAQ:PACB), compared to 21 funds in the earlier quarter. Steve Cohen’s Point72 Asset Management is the largest stakeholder of the company, with 5.3 million shares worth $43.6 million.

In addition to CRISPR Therapeutics AG (NASDAQ:CRSP), Intellia Therapeutics, Inc. (NASDAQ:NTLA), and Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), Pacific Biosciences of California, Inc. (NASDAQ:PACB) is one of the best CRISPR stocks to buy.

Jackson Square Partners made the following comment about Pacific Biosciences of California, Inc. (NASDAQ:PACB) in its Q3 2022 investor letter:

“Pacific Biosciences of California, Inc. (NASDAQ:PACB): emerging player in genomic sequencing with its highly differentiated long-read technology; poised to unlock a multi-year share shift towards long-read sequencing as new products dramatically improve throughput and cost to competitively advantaged levels.”

Click to continue reading and see Top 5 CRISPR Stocks To Buy.

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Published on December 13, 2024 at by Inan Dogan, PhD

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China’s terrifying internet “Master Key”… and the one microcap that could stop them

Published on December 18, 2024 at by Insider Monkey Staff

In August 2024, news outlets around the world revealed one of the most shocking data breaches in recent history.

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Click to continue reading…

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