It wasn’t immediately apparent what sent the three genetics stocks soaring. At the same time, shares of Uniqure (QURE) — another genetics stock — plunged after the Food and Drug Administration placed its hemophilia B clinical study on hold.
In midday trading on the stock market today, Editas stock led the pack, skyrocketing 40.4% near 90.50. Crispr stock zipped up 13% near 167.90 and Intellia shares surged 16.3% near 64.40. Uniqure stock, on the other hand, tumbled 15.7% near 38.70.
Genetics Stocks Ablaze
Genetics stocks Crispr, Editas and Intellia are studying a method of gene editing called CRISPR.
The company, Crispr, is testing a gene-edited treatment for sickle cell disease and beta thalassemia with Vertex Pharmaceuticals (VRTX).
Intellia has treatments for sickle cell disease and amyloidosis in testing. Amyloidosis is a rare disease in which an abnormal protein called amyloid builds up on organs and interferes with normal function.
Editas is testing a treatment for Leber Congenital Amaurosis 10, a blindness disorder.
All three genetics stocks have bullish Relative Strength Ratings north of 90. The RS Rating is a 1-99 measure of a stock’s 12-month performance. Intellia leads with an RS Rating of 98. Crispr and Editas have ratings of 95 and 94, respectively.
Uniqure Plummets On Hold
Genetics stock Uniqure plummeted after the FDA temporarily halted the company’s gene therapy test in hemophilia B patients. Patients receive gene therapy treatments like this just once. A patient who received the drug in October 2019 was diagnosed with a form of liver cancer earlier this month.
Uniqure noted the patient had multiple risk factors for liver cancer. Further, there have been no other cases of liver cancer among more than 100 patients who received Uniqure’s gene therapy. The genetics stock also noted it didn’t have any other plans to enroll or treat additional patients.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
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