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S&P and NASDAQ hit record highs as court rulings boost tech stocks.
Today’s market closed with a mix of green and red. While the DOW dropped points for the day, the S&P and NASDAQ closed at record highs once again!
Interestingly, the tech sector is on the rise while cyclical sectors like energy and transportation are falling. Overall, investors are waiting for a few economic indicators later this week, including the monthly employment report to help economists analyze the nation’s progress. We'll discuss them once the reports are out.
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Intellia Therapeutics (NTLA) Announces Breakthrough Interim Trial Results
The first gene-editing stock to discuss today is Intellia Therapeutics Inc (NTLA), up more than 50% today. This price jump is thanks to an important announcement regarding positive interim results for gene-editing trials on interior organs.
CEO John Leonard said that this breakthrough would allow them to expand their gene-editing capabilities to fight against genetic diseases. Standing at the edge of a new frontier in medical care, this seems like a company to keep an eye on as they continue to develop new approaches to genetic issues.
I own a few shares, and I picked them up along nine other gene-editing stocks as a bet on the future of personalized medicine. I only wished I bought more when the gene-editing stocks lost some momentum earlier this year.
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Today, two gene-editing stocks grabbed my attention: Intellia Therapeutics Inc (NTLA) and Editas Medicine Inc (EDIT).
Last year, when Prof. Jennifer Doudna and her colleagues won the Nobel Prize for the discovery of CRISPR technology, we published the gene-editing collection on the Stock Card platform. You may have already seen it. Type in "genome (gene) editing" in the search bar, and you get the list of companies making progress in this rapidly-growing market.
>> Get the list of gene-editing stocks.
Editas Medicine (EDIT) gets pulled from the death spiral by gene-editing industry breakthroughs. So is it a dip worth buying?
Riding the coattails of Intellia’s hype this week, Editas Medicine Inc (EDIT) also saw a jump in share price. However, Editas has had a rough year, stuck in a downward spiral since coming into the new year as high as $90/share. Interestingly, Editas' co-founder Jennifer Doudna is the same professor who won the Nobel prize for discovering CRISPR. Although Jennifer quit Editas, the company is still among the leaders in the industry.
The main research program for this biotech company is EDIT-101, a treatment for hereditary blindness. Editas is also tackling sickle cell disease, and received FDA approval for children’s tests last week.
EDIT follows closely behind its bigger brother Intellia (NTLA), we just discussed. It’s important to note that CRISPR and gene-editing technology is in their first innings, and there is so much more left to be done in this industry. For example, Intellia’s latest announcement that pushed the stock up 50% was only for a six-person sample. Much of this field is still open for development. If you want to benefit from the upside potential in this rapidly growing industry and feel comfortable with the inherent risk that comes with investing in innovation, consider Editas and other stocks from the gene-editing collection the next time you log in to research stocks on Stock Card. That's, indeed, what I plan to do this week.
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