Strong possibility of a bullish September for these two stimulating stocks, with a potential increase of up to 500%
In the dynamic world of biotechnology, two companies – Intellia Therapeutics and Recursion Pharmaceuticals – are making waves with their innovative approaches.
Nobel Prize winners Emmanuelle Charpentier and Jennifer Doudna, laureates in Chemistry for their work on CRISPR-Cas9 gene editing, co-founded Intellia Therapeutics. This company utilises CRISPR-Cas9 technology to treat diseases, offering a promising avenue for genetic modification.
While Intellia Therapeutics has not yet brought any drugs to market, there is hope that it could launch several by the end of the decade. The global CRISPR and Cas market is expected to grow at a CAGR of 17.15% from 2021 to 2030, reflecting the growing interest and potential of this technology.
Cathie Wood, a well-known investor and the founder of ARK Invest, has been bullish on Intellia Therapeutics all year. In September, she made two significant stock purchases, acquiring over 600,000 shares of both Intellia Therapeutics and Recursion Pharmaceuticals. ARK Invest is now the largest shareholder of Recursion Pharmaceuticals, holding over ten percent of outstanding shares.
Recursion Pharmaceuticals, another biotech company, leverages artificial intelligence for the development and testing of new drugs. Given its early stage of development, it's not surprising that the company is not yet profitable. However, it expects a multitude of new data in the coming months.
In September 2021, Fidelity Management & Research acquired over 600,000 shares of Recursion Pharmaceuticals, becoming the largest shareholder at that time. Nvidia is also a significant shareholder, with a nearly three percent stake, ranking twelfth among shareholders.
Analysts predict a loss per share of -$1.61 for the current fiscal year, while revenue could increase by 55%. Despite this, most analysts currently recommend holding the stock, seeing a 66% upside potential with a price target of $10. KeyBanc Capital analysts are even more optimistic, predicting a price target of $12, which would be nearly a 100% increase.
Both Intellia Therapeutics and Recursion Pharmaceuticals are examples of companies at the forefront of innovation in the biotech sector. With their focus on cutting-edge technology and promising research, they offer exciting prospects for the future of medicine.
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