Gene therapy research company Crispr Therapeutics fell as much as 10% on Wednesday as it disappointed investors with an experimental blood cancer treatment. "wooden Sister" and a number of hedge funds "tricked", "wooden Sister" is an important shareholder of Crispr.

Gene therapy research company Crispr Therapeutics fell as much as 10% on Wednesday as it disappointed investors with an experimental blood cancer treatment. "wooden Sister" and a number of hedge funds "tricked", "wooden Sister" is an important shareholder of Crispr.

Crispr said after US stock trading on Tuesday that the results of the first phase of its drugs were "encouraging", indicating that the company plans to expand its trials, and that data may be submitted to regulators for approval in the next phase. But investors were disappointed by the results, which showed that only 36 per cent of the 26 patients who received the drug had a full response and did not detect cancer.

The news sent Crispr down sharply in after-hours trading on Tuesday, falling as much as 10 per cent in early trading on Wednesday, but the decline has since narrowed to about 6 per cent. The stock is down about 37% so far this year.

ARK's flagship ETF ARKK and Genome Revolution ETF (ARKG) bought hundreds of thousands of shares a week before Crispr released its genetic editing of trial data for the cancer drug CTX110. The latest figures show that wooden Sister's two funds hold a total of nearly 7.5 million shares of Crispr, worth about $700m.

After an astonishing performance of 152 per cent ARKK growth and 180 per cent ARKG growth in 2020, neither of wooden Sister's funds performed well in 2021. So far this year, ARKK's net worth is down about 9%, while ARKG's is down about 21%.

Wooden Sister is fond of gene editing technology, and in addition to Crispr, its fund is also a major shareholder in Intellia and Editas Medicine, which all use gene editing technology called Crispr.

It's not just "wooden Sister" who treads on thunder. According to 13F filings filed with the Securities and Exchange Commission (SEC), many hedge funds have seen a surge in interest in Crispr. Although Crispr was not among the 30 most popular stocks of hedge funds in the second quarter, 34 hedge funds held it at its peak.

Founded in 2013, Crispr Therapeutics, headquartered in Basel, Switzerland, conducts R & D business in Cambridge, Massachusetts, USA. The company focuses on developing gene editing therapy drugs based on Crispr/Cas9 technology, which can make precise and targeted changes to genomic DNA and can be used for the treatment of β-thalassemia, hemophilia, Duchenne muscular dystrophy, cystic fibrosis and other diseases. The company listed on Nasdaq on October 19, 2016 with an IPO price of $15 and a market capitalization of $590 million.

Crispr technology with the same name as the company, the full name is clustering regular interval short palindromic repeat sequence system technology, also known as Crispr/Cas system, is a kind of innate immune system of prokaryotes. After being invaded by a virus, some bacteria can store a small segment of the virus gene in a storage space called Crispr in their own DNA. When the virus invades again, the bacteria can recognize the virus according to the stored fragments, cut off the DNA of the virus and invalidate it.