5 Best Buy-the-Dip Growth Stocks to Buy Now

3. Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Number of Hedge Fund Holders: 35

YTD Share Price Decline as of May 27: 58.58%

Intellia Therapeutics, Inc. (NASDAQ:NTLA) is an American genome editing company that develops pharmaceuticals for a wide range of diseases. As of May 27, the Intellia Therapeutics, Inc. (NASDAQ:NTLA) stock has dropped about 59% so far this year. Genomics is a branch of biotechnology that is positioned to grow in the coming years since it helps treat genetic or acquired diseases, making Intellia Therapeutics, Inc. (NASDAQ:NTLA) a notable stock to buy on the dip. 

On May 9, Oppenheimer analyst Jay Olson maintained an Outperform rating on Intellia Therapeutics, Inc. (NASDAQ:NTLA) but lowered the firm’s price target on the shares to $130 from $160 after the company announced Q1 results and offered updated reports from the Phase 1 study of NTLA-2001 in ATTR amyloidosis. The analyst is “encouraged” by the growing profile, which he believes boasts curative potential.

According to the first quarter database of Insider Monkey, Intellia Therapeutics, Inc. (NASDAQ:NTLA) was part of 35 hedge fund portfolios, up from 31 funds in the prior quarter. Andreas Halvorsen’s Viking Global is one of the leading stakeholders of the company, with 2.4 million shares worth $179.40 million. 

Carillon Tower Advisers discussed its stance on Intellia Therapeutics, Inc. (NASDAQ:NTLA) in its Q2 2021 investor letter.

“Intellia Therapeutics is a clinical-stage genome editing company focused on the development of proprietary, potentially curative therapeutics. The company’s stock soared after announcing positive interim data from an ongoing phase 1 clinical study of its in vivo gene editing candidate, which is being developed as a single-dose treatment for hereditary transthyretin (ATTR) amyloidosis. This specific form of therapy would be the first of its kind resulting in the precision editing of a gene in a target tissue in the human body.”