10 Most Promising Gene Editing Stocks to Buy According to Hedge Funds

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

Number of Hedge Fund Holders: 29

Average Upside: 201.9%

Intellia Therapeutics, Inc. (NASDAQ:NTLA) is a clinical-stage biotech company focused on developing CRISPR-Cas9 gene-editing therapies for both in vivo and ex vivo applications. The company’s primary clinical program, NTLA-2001, targets transthyretin amyloidosis, a condition for which no cure currently exists. Additionally, its NTLA-2002 treatment for hereditary angioedema has shown encouraging results in early-stage clinical trials.

BMO Capital reaffirmed its positive outlook on Intellia Therapeutics, Inc. (NASDAQ:NTLA) on October 16, maintaining an Outperform rating and a $70 price target. This follows the successful results of the company’s NTLA-2002 product, which met all primary and secondary endpoints in its Phase II trials. BMO emphasized the significance of the attack-free rate and suggested that upcoming Phase II data could boost Intellia’s stock by 5-10%.

Intellia Therapeutics, Inc. (NASDAQ:NTLA) also reported a strong financial position, holding $939.9 million in cash reserves, sufficient to fund operations through late 2026. The company plans to launch a pivotal Phase III trial for hereditary angioedema (HAE) in 2024 and has already started a trial for transthyretin amyloid cardiomyopathy (TTR-CM) across 35 global sites.

As of Q2 2024, 29 of the 912 hedge funds tracked by Insider Monkey held positions in Intellia Therapeutics, Inc. (NASDAQ:NTLA), with ARK Investment Management, led by Catherine D. Wood, being the largest investor.