Cathie Wood went bargain hunting. Two stocks she bought this week.

Cathie Wood is known for investing in disruptive technologies that are changing or have the potential to change the way work is done. She has built a reputation as a stock picker, aiming to achieve her goals by buying innovative companies with the vision and technology to beat the market over the long term. In many cases, Ark's CEO has even bought shares of a company during a downturn because she was confident in the company's long-term prospects.

This is the case with two healthcare stocks, both of which Wood bought this week, adding to his existing position. I'm talking about the leading telemedicine companies.Teladoc Health (NYSE: TDOC)and gene editing companiesIntellia Therapeutics (NASDAQ: NTLA)The

Both stocks are down by double digits over the past year, but Wood still sees a bright future for both companies. The two stocks are her flagship funds.Ark Innovation(b) and the Maternity Care FundArk Genomic Revolution) is one of the top 20 holdings.

Teladoc Health

Teladoc shares are down 42% over the past year, or more than 90% from their 2021 highs.The telemedicine company has a huge market position with 90 million members, but has failed to translate revenue growth into profits.

Last year, however, the company began to make progress toward its goal, with full-year adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increasing 33% to more than $328 million. This was the most profitable year in the company's history, and Teladoc also showed that its chronic care business is driving growth. This is critical because about half of all Americans have at least one chronic disease.

In the most recent quarter, Chronic Disease membership grew 14% year-over-year, and the company expects Chronic Disease revenue to grow in the mid-to-high single digits over the next few years. That said, Teladoc's forecast for three full years of annualized sales growth (low single-digit to mid-single-digit) remains lukewarm, disappointing investors who have grown accustomed to Teladoc's meteoric growth in the early days of the pandemic.

But a new turning point may lie ahead. Last week, Teladoc announced the departure of mat executive Jason Gorevic, who will be temporarily replaced by mat financial officer Mala Murthy. If Murthy or the new mat execs can eventually help the company achieve its profitability goals, Teladoc's stock price, which is currently at an all-time low in terms of sales, could take off.

Intellia Therapeutics

Intellia is developing drugs in the exciting field of CRISPR gene editing. This involves cutting DNA at specific locations to repair the faulty genes that cause disease.

The company does not yet have a product on the market, but is close to that goal. Pivotal studies are underway in two of the company's lead programs, a gene editing candidate for the treatment of transthyretin amyloidosis with cardiomyopathy (ATTR) and hereditary angioedema (HAE). Intellia's goal is to complete enrollment of these studies within the next three years and to seek regulatory approval for the HAE drug candidate in 2026.

If Intellia's drug candidates are successfully marketed, they will appeal to both physicians and patients, as the current treatment options for both diseases are very limited; ATTR is caused by a buildup of misfolded proteins in the wrong socket and affects multiple organs, while HAE causes unpredictable and extreme swelling.

Over the next three years, Intellia will also launch a new round of projects to deploy new editing and transmission technologies. There are many catalysts ahead for this innovative company.

Today is a great day for the field of gene editing as it nears its end. The regulatory body recently approved the world's first product based on CRISPR technology.CRISPR TherapeuticsThe company's blood disease treatment drug Casgevy shows that they are ready to approve the technology if the data supports safety and efficacy. This is a good sign for both Intellia and its investors, as Intellia moves forward with its late-stage product candidates, commercialization and revenue potential.

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Adria Cimino does not own any of the stocks listed above.The Motley Fool holds recommended stocks of CRISPR Therapeutics, Intellia Therapeutics and Teladoc Health.The Motley Fool has a disclosure policy.

Cathie Wood goes bargain hunting. Two stocks she bought this week. Originally published in The Motley Fool.