Gene editing stocks rise after Intellia’s readout, while competitors slip

As Intellia gained about $3 billion in market cap Monday on the strength of early signs of efficacy for its CRISPR-based therapy, a broader optimism lifted shares of a handful of other gene editing companies, while the threat of a new modality’s market entry dogged some competitors’ shares.

Shares of Intellia Therapeutics Inc. (NASDAQ:NTLA) added $44.60 (50%) to $133.43 Monday, bulging the biotech’s market cap to about $9.1 billion at the closing bell. Its shares touched an all-time intraday high of $144.40...