Cathie Wood’s Stock Portfolio: 2025 Stock Picks

Page 4 of 14

11. Intellia Therapeutics Inc. (NASDAQ:NTLA)

ARK Investment Management’s Q3 Stake Value: $251.8 million

Number of Hedge Fund Holders: 30

A market leader in the CRISPR-Cas9 gene-editing technology space, Intellia Therapeutics Inc. (NASDAQ:NTLA) is a biotech company that is known for developing novel treatments for both in vivo and ex vivo applications. Its flagship program, NTLA-2001, aims to treat transthyretin amyloidosis, a currently incurable disease. The company has a number of other programs in its pipeline that are in various trial stages.

That said, Intellia Therapeutics Inc. (NASDAQ:NTLA) has decided to discontinue work on a number of early-stage R&D projects, as well as its development of NTLA-3001. The company expects to release more data from Phase 1/2 studies this year and is prioritizing clinical execution for NTLA-2002 and Nex-Z. The company expects a Biologics License Application (BLA) filing for NTLA-2002 in the following year as it prepares to establish commercial leadership in the second half of 2025.

On January 27, Morgan Stanley downgraded Intellia Therapeutics Inc. (NASDAQ:NTLA) from Overweight to Equalweight. In tandem with this change, the firm significantly dropped its price target for the company’s stock from $56 to $11. The revision followed Morgan Stanley’s evaluation into Intellia’s competitive environment for gene-editing treatments, with the firm noting the growing competition from alternative therapies that do not involve gene editing. Although gene therapies may provide a one-time functional cure, concerns about their high cost and the potential long-term effects of off-target editing remain. These concerns have the potential to influence patient and payer preferences, especially if non-gene-editing therapies demonstrate comparable efficacy and safety.

Page 4 of 14