5 Genomics Stocks in Cathie Wood’s Portfolio That Are Underperforming

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

Number of Hedge Fund Holders: 31

Decline in Share Price in the Last 6 Months: 45.26%

Intellia Therapeutics, Inc. (NASDAQ:NTLA) is a Massachusetts-based biotech firm that creates medicines using the CRISPR gene editing system. Despite the stock declining 45.26% in the last six months, Cathie Wood elevated her stake in Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 18% in Q4 2021. ARK Investment Management held 7.9 million shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA), worth $936 million, representing 2.82% of the fund’s 13F securities. 

On February 3, Intellia Therapeutics, Inc. (NASDAQ:NTLA) acquired Rewrite Therapeutics, a biotechnology firm focused on advancing novel DNA writing technologies for an upfront payment of $45 million. Rewrite’s DNA writing technology may enable a range of precise editing strategies at Intellia Therapeutics, Inc. (NASDAQ:NTLA). 

William Blair analyst Raju Prasad on February 18 initiated coverage of Intellia Therapeutics, Inc. (NASDAQ:NTLA) with an Outperform rating and a $144 fair value for shares. In the second half of 2022, Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s clinical updates “could open a second multibillion-dollar market opportunity” for the company, says the analyst.

In Q4 2021, 31 hedge funds were bullish on Intellia Therapeutics, Inc. (NASDAQ:NTLA), down from 37 funds a quarter prior. Andreas Halvorsen’s Viking Global is a leading stakeholder of Intellia Therapeutics, Inc. (NASDAQ:NTLA), with 1.5 million shares worth $186.7 million. 

Here is what Carillon Tower Advisers has to say about 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.”