Published on 13 Oct 2021 on Insider Monkey via Yahoo Finance

Hedge Funds Are Crazy About Intellia Therapeutics, Inc. (NTLA)

Our extensive research has shown that imitating the smart money can generate significant returns for retail investors, which is why we track nearly 900 active prominent money managers and analyze their quarterly 13F filings. The stocks that are heavily bought by hedge funds historically outperformed the market, though there is no shortage of high profile failures like hedge funds' 2018 losses in Facebook and Apple. Let’s take a closer look at what the funds we track think about Intellia Therapeutics, Inc. (NASDAQ:NTLA) in this article.

Is Intellia Therapeutics, Inc. (NASDAQ:NTLA) a good investment now? Investors who are in the know were taking an optimistic view. The number of long hedge fund bets increased by 12 recently. Intellia Therapeutics, Inc. (NASDAQ:NTLA) was in 41 hedge funds' portfolios at the end of the second quarter of 2021. The all time high for this statistic was previously 30. This means the bullish number of hedge fund positions in this stock currently sits at its all time high. Our calculations also showed that NTLA isn't among the 30 most popular stocks among hedge funds (click for Q2 rankings). There were 29 hedge funds in our database with NTLA positions at the end of the first quarter.

In the financial world there are a large number of tools investors have at their disposal to grade stocks. A pair of the most under-the-radar tools are hedge fund and insider trading indicators. We have shown that, historically, those who follow the top picks of the best fund managers can outperform the broader indices by a solid amount. Insider Monkey's monthly stock picks returned 185.4% since March 2017 and outperformed the S&P 500 ETFs by more than 79 percentage points (see the details here). That's why we believe hedge fund sentiment is a useful indicator that investors should pay attention to.