Is Intellia Therapeutics Inc (NTLA) A Good Stock To Buy?

As one would reasonably expect, key hedge funds have jumped into Intellia Therapeutics Inc (NASDAQ:NTLA) headfirst. Millennium Management assembled the most valuable position in Intellia Therapeutics Inc (NASDAQ:NTLA). Millennium Management had $2.3 million invested in the company at the end of the quarter. Hal Mintz’s Sabby Capital also made a $1.8 million investment in the stock during the quarter. The other funds with new positions in the stock are Anand Parekh’s Alyeska Investment Group and Charles Clough’s Clough Capital Partners.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Intellia Therapeutics Inc (NASDAQ:NTLA) but similarly valued. These stocks are National Presto Industries Inc. (NYSE:NPK), TriCo Bancshares (NASDAQ:TCBK), Green Plains Partners LP (NASDAQ:GPP), and Crocs, Inc. (NASDAQ:CROX). This group of stocks’ market values are similar to NTLA’s market value.

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $57 million. That figure was $74 million in NTLA’s case. National Presto Industries Inc. (NYSE:NPK) is the most popular stock in this table. On the other hand Green Plains Partners LP (NASDAQ:GPP) is the least popular one with only 5 bullish hedge fund positions. Intellia Therapeutics Inc (NASDAQ:NTLA) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard NPK might be a better candidate to consider taking a long position in.

Disclosure: None