Cathie Wood Is Buying These 2 Biotech Stocks Hand Over Fist, and Wall Street Thinks They Could Double
Cathie Wood is known for her propensity to buy growth stocks that have the chance to disrupt their industries while also making early investors rich. And that means she's a big buyer of biotech stocks via her ARK Innovation ETF (NYSEMKT: ARKK). She's been particularly busy buying Intellia Therapeutics (NASDAQ: NTLA) and Ginkgo Bioworks (NYSE: DNA) this summer, making them companies that growth investors should want to know about now.
As with many of her other picks, Wall Street analysts estimate, on average, that both stocks could more than double within a year, though both lost value and underperformed the market over the last 12 months. Let's investigate what's driving their estimates and why Wood can't get enough of these two stocks.
As an early-stage biotech stock years from having any shot at selling a medicine, Intellia Therapeutics is a high-risk, high-reward style investment that's a great fit for Cathie Wood. Wood most recently bought the stock on Aug. 31, as well as a bevy of other times in the preceding weeks and months. At the moment, it accounts for 2.4% of the ARK Invest portfolio. Wall Street estimates that its shares will fly to the tune of 121%, and its upcoming catalysts are doubtlessly the reason.
Source Fool.com
Intellia Therapeutics Inc Stock
We see a rather positive sentiment for Intellia Therapeutics Inc with 15 Buy predictions and 1 Sell predictions.
Based on the current price of 19.58 € the target price of 60 € shows a potential of 206.44% for Intellia Therapeutics Inc which would more than double the current price.
