The only potential explanation is they think the gen 3 alny drug which isn’t in pivotal yet will take the entire $20b market lol. The stock is worth 3-4x minimum today if $NTLA captures 1% of the patients per year.

It was overvalued during the bubble. But a stock should never lose 95% of peak value when it’s 3 lead trials progress to phase 3 (all with best in class potential)