It’s pretty hard not to notice biotech stocks in the market these days. Scientific advances are opening up possibilities for treatment and prevention that could not have been imagined in the past. Gene-editing company CRISPR Therapeutics (CRSP Stock Report) is one of the top biotech stocks to watch this year. The company started gaining attention after it released new and highly positive data from two small clinical trials of its CTX001 gene-editing therapy for beta-thalassemia and sickle cell disease earlier this year.
As for the top biotech stocks to buy this year, a healthy dose of profit-taking seems to be happening. With AstraZeneca (AZN Stock Report), Moderna (MRNA Stock Report), Novavax (NVAX Stock Report), and Pfizer (PFE Stock Report) all trading lower starting September, investors appear to be turning away from these biotech stocks, at least for now. That leads investors to look for biotech stocks that are constantly finding new solutions for other diseases that have been plaguing mankind for some time.
The rapid pace of progress in gene editing is exciting. That’s because it holds promise for finding cures for some of the most severe disorders, which brings us back to our main topic. There hasn’t been any specific news that could bring CRSP stock down. All told, it simply looks like CRSP stock got caught up in a wave of selling that hit the market. The market sell-off pushed the company’s stock to a 2 month low. This makes it a nice setup for investors to buy on the dip, but should investors do that?
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CRISPR Therapeutics isn’t a typical biotech company that has one or two products on which its ultimate success rests. On top of the β-thalassemia and sickle cell disease, the company’s technology also has promise in cancers, through a method known as ‘CAR-T’ (chimeric antigen receptor T cells) therapy.
In CAR-T, immune cells are engineered to fight the specific kind of cancer at work. It’s a highly promising approach, and one that would be far less harmful than current regimens of chemotherapy. Therefore, CRISPR Therapeutics’ approach has massive potential. And investors seem to be very optimistic with the prospects of the company.CTX001 Is Only The Starter For CRISPR Therapeutics
No matter how you slice it, the CTX001 trials are still in their early phases. Neither has reached anywhere near the 45 patients the company hopes to enroll in each. The good thing is, it’s not too late for investors to buy the stock now. Data on CTX001’s safety and efficacy from a larger group of patients would be more important than the information released in June.Photo Credit: CRISPR Therapeutics
CRISPR will provide an update on its phase 1 trial of CTX110 therapy project for B-cell malignancies like lymphoma by year-end. Similarly, there may be some safety data from the ongoing clinical trial of CTX120 for multiple myeloma. Any positive news would be a boost to the stock.
What’s more, it’s worth pointing out that the company has a pipeline of other genetic engineering programs in the preclinical phase. Some of these programs could be a cure for inherited diseases like cystic fibrosis. The company hasn’t even started clinical trials for these programs yet. Thus, there could be multiple opportunities for future upside when these programs begin human trials and hopefully achieve good results.
Whatever the reason may be for the recent weakness in CRSP stock, could it be an attractive buying opportunity? Well, I can’t decide that for you. This, after all, is one potential therapy that could revolutionize medicine. The company’s pipeline is substantial. It seems there are many applications for gene-editing drugs. If you are bullish on the technology, the recent pullback could be very appealing, to say the least.