CRSP - Crispr Therapeutics: I'm Not Betting Against Gene Editing This Time (Upgrade)

2024-02-24 08:30:00 ET

Summary

• CRISPR stock fell nearly 30% in December but has since rebounded, gaining almost 65% through its recent highs.
• The recent FDA approvals of Crispr's gene-editing therapy have increased the actualization of its growth potential, improving investor sentiments.
• The market is increasingly bullish on Crispr's expansion into other therapeutic areas, such as oncology and cardiovascular diseases.
• I explain why buyers found the conviction to return with a vengeance while my previous thesis played out.
• With CRSP surging toward a short-term top, investors should prepare their dry powder to capitalize on a steeper pullback.

I downgraded CRISPR Therapeutics AG (CRSP) stock before the official approval of Casgevy by the US FDA in December 2023. Crispr billed the FDA approval as "historic , not only for biomedicine but for humanity as a whole." As a result, it has opened up new healthcare opportunities in gene editing as a platform, even though we started with just severe sickle cell disease or SCD....

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