Millions of People Will Be Blindsided in 2023. Will You Be One of Them?

On December 13, Louis Navellier, Eric Fry & Luke Lango will reveal the major events that could rock the markets in 2023. Will your money be safe?

Tue, December 13 at 4:00PM ET

CRISPR Stocks: The Big Analyst Call Destroying CRSP, NTLA, EDIT Stocks Today

A dramatically bearish analyst take has CRISPR stock Editas (NASDAQ:EDIT) down 15% in trading today, but it’s not the only one. Gene-editing stocks including Intellia Therapeutics (NASDAQ:NTLA) and CRISPR Therapeutics (NASDAQ:CRSP) are down 6% and 4% respectively.

Source: vxhal/

The downslide was triggered by Goldman Sachs initiating coverage of EDIT stock with a “sell” rating and a price target of just $20. Editas closed trading on Thursday at $40.98 and opened today at a price of $38.27. In his report, Goldman Sachs analyst Madhu Kumar expressed skepticism concerning the efficacy of EDIT’s experimental treatment for a rare eye disease.

InvestorPlace analyst Luke Lango found Kumar’s report overly bearish, highlighting insider buying by the company’s CEO and a member of the board. Lango recommends investors buy EDIT stock on the dip.

The decline in sector peers CRSP and NTLA appeared more sympathetic than tied to any particular news. CRISPR Therapeutics saw some gains earlier in the week which may help to explain why its stock deflated a little more than Intellia. Intellia has also seen increased investment from hedge funds in recent quarters, which could be a stabilizing force for NTLA stock.

EDIT stock surged dramatically at the end of 2020 but has been steadily declining since a Jan. 8, 2021 peak above $90. The company has three other gene-editing treatments in progress, though none of those are as far along in development as its congenital amaurosis treatment. Editas reported full-year and Q4 earnings back in February.

To learn more about investing in gene-editing stocks, check out our Guide to Investing in CRISPR Stocks.

On the date of publication, Vivian Medithi did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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