Genus (LSE: GNS) is a growth stock in the FTSE 250 index that doesn’t get a lot of media coverage. Down 71% in three years, it also hasn’t been getting a lot of love from investors.

After months of buying high-yield FTSE 100 shares, I’m open to injecting a bit of mid-cap growth into my portfolio. But does Genus stock fit the bill? Let’s find out.

Breeding ‘elite’ cows and pigs

Speaking of stock, the company is a global leader in animal genetics. It analyses DNA to find the strongest genetic profiles, helping farmers breed cows and pigs with superior traits. This results in higher milk production in dairy cows and better meat quality.

Genus operates two main segments. First, there’s PIC, which stands for Pig Improvement Company (I like the simple reflection of its mission). It was formed in the early 1960s in a village pub in Oxford. Then there’s ABS, which focuses on cattle genetics.

Genus’ competitive edge comes from the ownership of proprietary lines of breeding animals and the biotechnology used to improve them. For example, PIC owns the Camborough sow line, which produces large litters and piglets with strong growth rates. It’s the most used sow in pig production worldwide.

Why is the stock down?

Recently, the firm’s sales have been very weak in China, the world’s largest porcine market. Low prices there have seen producers suffer losses, while challenging conditions persist in other markets.

Today (5 September), the firm reported a continuation of these trends. In the year to 30 June, revenue in actual currency dipped 3% year on year to £669m. Adjusted operating profit fell 9% to £78m as PIC China’s profit slumped by 60%.

Outside of China though, PIC trading was resilient and market conditions are “stable to slowly improving“. Profits are expected to rise this year due to efficiency savings.

However, management remains cautious on China and there’s a risk of currency challanges if current exchange rates persist. So the near-term outlook here remains murky.

Gene-edited pigs

Notably, the company has used CRISPR gene-editing technology to develop a new generation of piglets that are resistant to PRRS (porcine reproductive and respiratory syndrome). This is a highly contagious virus that causes significant economic losses in the global pork industry.

Genus has received favourable regulatory decisions in Brazil and Colombia for the PRRS-resistant pig, while the US Food and Drug Administration (FDA) is expected to approve it by 2025.

It’s also submitted applications to regulators in Canada and Japan, and testing is starting in China.

This programme could one day help eliminate a major infectious disease in swine. It would be a major advancement.

Should I invest in Genus?

Longer term, a rising global population should only increase the need for animal protein, and with it demand for the firm’s products.

However, the shares are trading on a forward price-to-earnings ratio of 26.5. That’s a pretty steep valuation considering the company’s growth has stalled lately.

Meanwhile, the dividend yield is a measly 1.8%. So there’s not much from an income perspective.

On reflection, I’d prefer to buy other stocks today. But I’ve put it on my watchlist to keep an eye on the gene-edited pig. It could be a game-changer for the global pork industry and the firm’s growth.