Top 5 CRISPR Stocks To Buy

1. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Number of Hedge Fund Holders: 60

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is a biotechnology company that develops and commercializes therapies for treating cystic fibrosis. It sells its products to specialty pharmacies and distributors in the United States, as well as retail pharmacies, hospitals, and clinics. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) also has collaborations with other biotech companies including CRISPR Therapeutics, Moderna, Kymera Therapeutics, and more. It is one of the top CRISPR stocks to invest in. 

On March 27, Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) entered into a licensing agreement with CRISPR Therapeutics to speed up the development of its hypo-immune cell therapies for type 1 diabetes. Vertex will pay a $100 million upfront payment to CRISPR for non-exclusive rights to its gene-editing technology for the development of hypo-immune gene-edited cell therapies for T1D. CRISPR will also receive up to $230 million in research and development milestones and will receive royalties on any future products resulting from the agreement.

According to Insider Monkey’s fourth quarter database, 60 hedge funds were bullish on Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), compared to 49 funds in the last quarter. Cliff Asness’ AQR Capital Management is a prominent stakeholder of the company, with 587,594 shares worth $168.5 million. 

Artisan Partners made the following comment about Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in its Q3 2022 investor letter:

“Biotechnology company Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) dominates the market for treatment of cystic fibrosis (CF) with limited competition. In addition to solid growth in CF revenues that has driven better-than-expected results, positive progress in its development pipeline has lifted shares. At the time of our Q2 2021 purchase, the stock was under pressure due to regulatory hurdles and Vertex’s decision not to pursue late-stage development of VX-864 after an unexpectedly unfavorable outcome. VX-864 is designed to treat alpha-1 antitrypsin deficiency (AATD), which is an inherited disorder with a strong correlation to pediatric liver disease. Irrespective of Vertex’s AATD pipeline, the company has nearly two decades of patent protection remaining for its CF franchise. Management maintains a healthy reserve of cash and is focusing on research and development. We believe near-term growth is likely to be driven by Vertex’s expanding geographic presence and expansion of medicines to lower age groups, with long-term gains arising from the company’s diversifying pipeline.”

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