Genetic engineering has nothing to do with evolution in the sense of evolving from one species to another...
We improve on our material conditions by use of a palette that is already present. It is not a matter of slowly transforming from something less into something more or something completely different. This human palette will always be this human palette. There may be things in this palette that we are unaware of as of now, but we will never evolve into a new species.
The material world first manifested with all its variegatedness. Modern scientists pervert the spiritual philosophy of the "coming from a single source" into a material concept. They have theory that we all came from a single material organism that evolved into different, more intelligent species over billions of years. But, because matter does not create life, the variegated living entities could not have been produced from a single material organism. Each living entity's existence is not dependent on any material organism, be it single celled or one's parents. (The parents are responsible for the birth of the material body, that is all. And the material body without the life force is a corpse.) Now, because there is a diversity of living entities and their existence is transcendental to the material world, they were diverse even before the universe manifested. Thus, how would it be possible for multiple living entities (souls), being independent of the material world, to spring from a single material organism? And furthermore, what constitutes the cross-evolution of species when the diversity of life is a fundamental fact? Or in another perspective, if we evolved from primates, how come there are still primates?
Also...
Given the plague of human thought, that the body is the true entity, we obliviously try to improve our material conditions. Genetic engineering has got to be one of our greatest vanities.