Cathie Wood Is Buying This Growth Stock and Selling Its Competitor. Should You Follow Suit?
Over the last couple of weeks, Cathie Wood's ARK Innovation ETF has been busy buying shares of gene-editing biotech Intellia Therapeutics (NASDAQ: NTLA). She's also been selling some shares of CRISPR Therapeutics (NASDAQ: CRSP), one of Intellia's major competitors. And both stocks make up around 2.7% of her ETF's portfolio.
So is the queen of disruptive growth stocks losing her confidence in CRISPR's prospects of success relative to Intellia, and if she is, is it worth following her lead?
The catalyst for Wood buying Intellia stock was likely the favorable data that it published on June 11 regarding one of its phase 1/2 clinical trials, a gene editing therapy for hereditary angioedema (HAE). Unlike any of the existing medicines used to treat the symptoms associated with that condition, Intellia's candidate is capable of treating the root cause: genetics.
Source Fool.com
Intellia Therapeutics Inc Stock
With 13 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
With a target price of 60 € there is potential for a 150.73% increase which would mean more than doubling the current price of 23.93 € for Intellia Therapeutics Inc.
