Intellia Therapeutics (NASDAQ: NTLA) shares are soaring 5.07% in pre-market trading on Friday, following bullish analyst reports that reaffirm confidence in the gene-editing company's potential.
The stock's upward movement comes on the heels of two major Wall Street firms maintaining their positive outlook on Intellia. Chardan Capital reiterated its Buy rating on the company, signaling continued optimism about Intellia's prospects in the competitive gene therapy landscape. This vote of confidence was echoed by Bank of America Securities analyst Alec Stranahan, who also reaffirmed a Buy rating on Intellia Therapeutics in a report released Thursday.
These positive analyst sentiments appear to be driving investor enthusiasm, pushing the stock higher before the market opens. The maintained Buy ratings suggest that despite the challenges inherent in the biotech sector, analysts believe Intellia's innovative CRISPR-based therapies and robust pipeline continue to position the company favorably for future growth. As the market digests this information, investors will be watching closely to see if this pre-market surge translates into sustained gains throughout the trading day.
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