Published on 16 Oct 2024 on Insider Monkey · via Yahoo Finance
Is Intellia Therapeutics, Inc. (NTLA) the Most Promising Biotech Stock According...
We recently compiled a list of the 10 Most Promising Biotech Stocks According to Hedge Funds. In this article, we are going to take a look at where Intellia Therapeutics, Inc. (NASDAQ:NTLA) stands against the other promising biotech stocks.
Biotechnology stocks are known for their high risk, making them some of the most volatile in the market. Their prices can swing dramatically, driven by the results of FDA clinical trials and the real-world performance of their treatments. In 2020, the biotech sector surged to prominence with the rollout of COVID-19 vaccines. By late 2023 and early 2024, investor interest revived as Big Pharma began spending on acquisitions. However, the momentum slowed, and biotech stocks remained stagnant for months. In the second quarter, biopharma deal activity sharply declined, with only a few M&A deals and IPOs breaking the otherwise quiet period. This slowdown came after a lively first quarter, where pharma finally started deploying its massive cash reserves for acquisitions.