The stock has fallen sharply from its highs, sentiment remains weak, and many investors have simply moved on.

But sometimes the most interesting opportunities are the ones the market has stopped paying attention to.

In this Deep Dive, I take a fresh look at Intellia through the Quiet Bull research framework.

We examine the business, enterprise value, financial position, clinical and business catalysts, technical picture, and the risks that every investor should understand before making a decision.

One topic I spend extra time on is enterprise value. I believe it’s one of the most overlooked metrics in biotechnology. A company with a large cash balance can look expensive based on market capitalization alone, while its operating business may be valued very differently. Looking beyond the headline numbers often provides a clearer perspective.

Whether you’re bullish, bearish, or simply curious, my goal isn’t to tell you what to buy or sell.

It’s to organize the available evidence so you can make a more informed decision.

Thanks for reading and for supporting Quiet Bull as we continue building an independent investment research platform focused on identifying signals before they become stories.

Disclosure: I am long shares of Intellia Therapeutics (NTLA). Quiet Bull is for informational and educational purposes only and should not be considered personalized investment advice or a recommendation to buy or sell any security. Investing involves risk, including the possible loss of principal.

This week’s update includes:

• The Quiet Bull Index (QBI)

• AI & semiconductor leadership

• Biotechnology and gene editing

• Space and defense

• Market and sector rotation

• Technical observations

• Key themes and catalysts to watch

Featuring companies including NVDA, TSM, AMD, CRSP, NTLA, NVAX, IOVA, LUNR, ASTS, RKLB, PLTR, META, AMZN, AVGO, and more.

Zacks recently upgraded Novavax (NASDAQ: NVAX) from a Hold to a Strong Buy.

That’s a meaningful change.

In this Deep Dive, we examine what may have driven the upgrade, why Cantor Fitzgerald remains constructive, and whether Novavax’s transition to a royalty- and partnership-driven business model is beginning to gain traction.

The market still sees uncertainty.

We’re watching the underlying business.

Topics Covered

• Why Zacks upgraded NVAX from Hold to Strong Buy

• Earnings surprises and analyst estimate revisions

• Cantor Fitzgerald’s bullish outlook

• Matrix-M licensing opportunity

• Sanofi partnership and royalty potential

• Novavax financial transformation

• Risks and what investors should watch going forward

Disclosure: I am long shares of NVAX. Quiet Bull is for informational and educational purposes only and should not be considered personalized investment advice or a recommendation to buy or sell any security. Investing involves risk, including the possible loss of principal.

In this video, we review the SPDR S&P Biotech ETF (XBI) across the weekly, monthly, and quarterly timeframes to determine whether the sector remains technically healthy.

Topics covered:

• Weekly technical outlook

• Monthly breakout analysis

• Quarterly momentum review

• Moving averages

• MACD analysis

• Long-term biotech trend

• What XBI may mean for biotech investors

Our Take

XBI remains technically constructive across all major timeframes.

• Weekly trend remains higher.

• Monthly breakout remains intact.

• Quarterly momentum remains positive.

While no chart can predict the future, understanding the health of the sector provides valuable context before evaluating individual biotech companies.

Before analyzing biotech stocks, analyze biotech itself.

Disclosure: I have no position in XBI. Quiet Bull is for informational and educational purposes only and should not be considered personalized investment advice or a recommendation to buy or sell any security. Investing involves risk, including the possible loss of principal.

Every update, we rank the ten companies where we currently have the highest long-term investment conviction.

These rankings aren’t based on hype or headlines. They reflect our ongoing evaluation of fundamentals, catalysts, technicals, valuation, risk, and long-term opportunity.

The Conviction Board isn’t designed to predict next week’s winners.

It’s designed to answer one question:

If we were building a portfolio today… which companies would earn a place on the Board?

This Week’s Conviction Board

1. NTLA – Intellia Therapeutics

2. NVAX – Novavax

3. IONQ – IonQ

4. RKLB – Rocket Lab

5. NET – Cloudflare

6. TSM – Taiwan Semiconductor Manufacturing

7. AMD – Advanced Micro Devices

8. IOVA – Iovance Biotherapeutics

9. UEC – Uranium Energy

10. ABNB – Airbnb

Disclosure: I am long shares of NTLA, IOVA, and NVAX. This video is provided for informational and educational purposes only and should not be considered investment advice or a recommendation to buy or sell any security. Investing involves risk, including the possible loss of principal. Please conduct your own research and consult a qualified financial professional before making investment decisions.

Thank you.

Quiet Bull is built on thoughtful discussion, disciplined investing, and a community that values independent thinking.

Every like, comment, question, and constructive conversation helps make Quiet Bull better. Thank you for being part of the journey.

Observe clearly. Think independently. Execute patiently. Win calmly.

Disclosure: I am also long shares of NTLA and IOVA. This post is for informational and educational purposes only and is not investment advice.

• Has the science advanced?

• Has the investment case changed?

• What is the next meaningful catalyst?

In this update, we review several of the most important companies we’re following, including Intellia Therapeutics, Novavax, Iovance Biotherapeutics, and others developing innovative treatments across gene editing, oncology, rare diseases, and precision medicine.

Catalyst-15 Companies:

• • • • • • • • • • • • • •

Disclosure: I am long shares of NTLA, CRSP, IOVA, and NVAX. This video is provided for informational and educational purposes only and should not be considered investment advice or a recommendation to buy or sell any security. Biotechnology investing involves significant risk, including the potential loss of principal. Please conduct your own research and consult a qualified financial professional before making investment decisions.

The Quiet Bull Index tracks innovative companies across artificial intelligence, semiconductors, biotechnology, gene editing, quantum computing, space, nuclear energy, and other emerging industries.

Each update answers one simple question:

What happened?

In this episode, we review:

• QBI Market Health Scorecard

• Sector leadership and capital rotation

• Artificial intelligence and semiconductor strength

• Biotechnology and gene editing weakness

• Where Quiet Bull believes opportunity may be developing

Our goal isn’t to predict the market.

Our goal is to follow the evidence, evaluate the investment cases, and understand where capital is flowing.

Quiet Bull doesn’t make predictions. Quiet Bull builds investment cases.

Disclosure: I am long shares of NTLA, CRSP, IOVA, and NVAX. This video is provided for informational and educational purposes only and should not be considered investment advice or a recommendation to buy or sell any security. Investing involves risk, including the possible loss of principal. Please conduct your own research and consult a qualified financial professional before making investment decisions.

Topics covered:

• Daily through quarterly technical analysis

• Why the quarterly MACD remains significant

• Key moving averages

• Major resistance near $11

• What I’m watching next

Our Take:

NVAX remains technically constructive. The longer-term charts continue improving, the quarterly MACD remains one of the strongest features, and the stock is holding above key moving averages. The next major technical hurdle is a decisive breakout above $11. Until then, patience remains the strategy.

Disclosure: I am long shares of NVAX. This video is for educational purposes only and is not investment advice. Please do your own research before investing.

In this video, I review the monthly, weekly, and daily charts, discuss the long-term aging-in-place investment theme, and explain why I’m establishing a preliminary buying guide below $14 with an initial price objective of $21.

While ARLO isn’t a high-growth biotech or AI company, it may offer investors exposure to a durable demographic trend through smart home security and subscription-based services.

Guide:

• Buy Under: $14

• Initial Target: $21

Disclosure: I do not currently own shares of ARLO. This video reflects my personal opinions for educational purposes only and is not investment advice

On July 7, 2026, EXEL reached that target, producing an approximate 26% gain in about 60 days.

This Results Highlight reviews the original investment case and the outcome.

Quiet Bull doesn’t make predictions. Quiet Bull builds investment cases.

Disclosure: No position. This video is provided for informational and educational purposes only and should not be considered investment advice.

As of July 2, 2026, shares are trading around $149—an increase of approximately 11% in about six weeks.

In this update, we revisit the original investment case, review the technical picture, and discuss why the long-term FIFA 2026 catalyst remains in play.

Disclosure: No position. This video is for informational and educational purposes only and should not be considered investment advice.

Disclosure: I am long NTLA shares. This video is for informational and educational purposes only and should not be considered financial advice. Always conduct your own research before investing.

This week I cover the biggest developments across the QBI, including Intellia’s continued momentum, AI’s recent pullback, volatility across the space sector, and the catalysts I’m watching next.

This video is for informational and educational purposes only and is not financial advice. Always do your own research.

Disclosure: I am long shares of CRSP, NTLA, NVAX, AMZN, NVDA, and TSM.

In this update, I walk through the technical setup, key support and resistance levels, and why Intellia remains one of my highest-conviction biotech names.

Disclosure: I am long shares of NTLA. This video reflects my personal opinions and is not investment advice.

In this update, I discuss:

• Pipeline progress

• Strategic partnerships

• Technical picture

• Valuation

• My updated long-term thesis

My current long-term target remains $55, but that target is always subject to changes in the underlying facts.

At Quiet Bull, the goal isn’t to predict the future with certainty—it’s to evaluate the evidence, update our views as new information becomes available, and think independently.

If you enjoy thoughtful, research-driven investing, consider subscribing for future updates.

Disclosure: I am long shares of NVAX. This video is for informational and educational purposes only and should not be considered investment advice.