In this article, we will discuss the 5 best genomics stocks to buy now. If you want to read our detailed analysis of these stocks, go directly to the 10 Best Genomics Stocks to Buy Now.
5. CRISPR Therapeutics AG (NASDAQ:CRSP)
Number of Hedge Fund Holders: 43
CRISPR Therapeutics AG (NASDAQ:CRSP) is a Swiss-American biotech company that is home to the CRISPR/Cas9 gene-editing technology that is working on treating cancer, diabetes, hemoglobinopathies, and other diseases.
CTX110 is a wholly-owned allogeneic CAR-T cell therapy aimed towards the treatment of CD19+ B-cell malignancies. The therapeutic has received the Regenerative Medicine Advanced Therapy (RMAT) status from the US FDA. This is similar to Breakthrough Therapy status. This recognition helps in receiving more intense guidance on research and development (R&D) and faster review of the marketing application.
CRISPR Therapeutics AG (NASDAQ:CRSP) along with its partner ViaCyte received approval from the Canadian health regulator to move ahead with the dosing of VCTX210 for type-I diabetes patients, who need daily shots of insulin to maintain their glucose level.
Following this development, in a research note issued on November 16, Joon Lee at Truist highlighted that there is “ample proof of principle” that the cell replacement therapy of CRISPR Therapeutics AG’s (NASDAQ:CRSP) VCTX210 is bordering on functional cure along with durability in the fight against diabetes. The analyst highlights the key concern related to the accessibility of cell replacement therapy to eight million patients suffering from diabetes in the US, who require a daily dose of insulin. Joon Lee is bullish on CRISPR Therapeutics AG (NASDAQ:CRSP) stock with a $220 price target and a Buy rating.
Of the 867 hedge funds tracked by Insider Monkey, 43 hedge funds held a stake in CRISPR Therapeutics AG (NASDAQ:CRSP) at the end of Q3 2021, up from 34 in the second quarter.