5 Most Promising Biotech Stocks According to Analysts

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

Number of Hedge Fund Holders: 39

Average Upside Potential as of February 24: 142.17%

Intellia Therapeutics, Inc. (NASDAQ:NTLA) was incorporated in 2014 and is headquartered in Cambridge, Massachusetts. It is a genome editing company that focuses on the development of therapeutics. The company’s revenue of $13.6 million climbed 5.8% year-over-year, beating market estimates by $2.89 million. Intellia Therapeutics, Inc. (NASDAQ:NTLA) ended 2022 with a strong financial position, reporting approximately $1.3 billion in cash as of December 31, compared to $1.1 billion as of December 31, 2021.

On February 24, Geulah Livshits, an analyst at Chardan, maintained a Buy rating on Intellia Therapeutics, Inc. (NASDAQ:NTLA) but lowered the price target from $129 to $111. The reason for the reduced valuation is due to the emergence of new public and private players in the gene-editing technology sector, which is likely to increase competition in the in vivo approach to rare diseases. As a result, the analyst has trimmed Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s in vivo platform’s value.

According to Insider Monkey’s Q4 data, 39 hedge funds were long Intellia Therapeutics, Inc. (NASDAQ:NTLA), compared to 36 funds in the last quarter. Cathie Wood’s ARK Investment Management is the biggest position holder in the company, with 9.4 million shares worth $328.6 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.”