Cathie Wood is Not Letting Go of These 5 Stocks Despite Losses

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

Number of Hedge Fund Holders: 35

YTD Share Price Decline as of July 22: 45.04%

Intellia Therapeutics, Inc. (NASDAQ:NTLA) is a Massachusetts-based genome editing company. Cathie Wood’s hedge fund increased its position in Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 6% in Q2 2022, holding 9.5 million shares worth $439 million. The stock represents 2.59% of the total 13F portfolio. 

Piper Sandler analyst Swapnil Malekar on June 24 kept an Overweight rating on Intellia Therapeutics, Inc. (NASDAQ:NTLA) with a $171 price target after updated data from NTLA-2001 in transthyretin amyloidosis with polyneuropathy. This data “continues to increase our conviction in the potential for one time treatment option for NTLA-2001,” the analyst told investors in a research note. The analyst says the safety profile “remained clean” with no new worrying signals in the longer follow-up. 

Among the hedge funds tracked by Insider Monkey, 35 funds were long Intellia Therapeutics, Inc. (NASDAQ:NTLA) at the end of Q1 2022, up from 31 funds in the last quarter. Andreas Halvorsen’s Viking Global is a notable position holder in the company, with 2.5 million shares worth $179.40 million. 

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

“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.”

You can also take a look at 10 Most Shorted Stocks to Watch in July and 10 Best Cyclical Stocks for Inflation. 

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