Cathie Wood crushed it in 2023. Her flagship Ark Innovation ETF (ARKK 2.30%) soared nearly 67%. The Ark Next Generation Internet ETF (ARKW 1.72%) performed even better with an impressive 97% gain.

If analysts are right, Wood could have some big winners this year as well. Here are four stocks she owns that Wall Street thinks will skyrocket by 83% to 168% in 2024.

1. Guardant Health

Guardant Health (GH -0.28%) didn't do much for Wood last year. The stock, which is included in her Ark Genomic Revolution ETF (ARKG 2.46%) portfolio, ended 2023 down slightly.

However, analysts are looking for the liquid biopsy developer to take off in the new year. The average 12-month price target for Guardant Health reflects an upside potential of 83%. All four of the analysts surveyed by LSEG in January who cover the stock rated it as a buy or a strong buy.

2. Beam Therapeutics

Beam Therapeutics (BEAM 2.85%) turned out to be a big loser for Wood in 2023. The gene-editing stock plunged 30% with most of the decline coming early in the year.

That steep sell-off didn't make Wood less optimistic about Beam, though. Her ARKK and ARKG funds continued to scoop up shares of the clinical-stage biotech. Wall Street remains generally bullish as well. Despite a couple of analysts' downgrades of the stock in December, the average 12-month price target for Beam is still 85% above its current share price.

3. Ginkgo Bioworks

Like Beam Therapeutics, Ginkgo Bioworks (DNA 7.36%) is owned by Wood's ARKK and ARKG funds. Shares of the DNA engineering pioneer finished 2023 at the exact price as the start of the year.

The average 12-month price target for Ginkgo is a whopping 120% above the current level. However, there's not a consensus on Wall Street about the stock. Of the nine analysts most recently surveyed by LSEG, only three rated Ginkgo as a buy or a strong buy. Two analysts thought it would underperform, with the others recommending holding the stock.

These mixed opinions haven't swayed Wood, though. Her ETFs bought more shares of Ginkgo in November.

4. Intellia Therapeutics

Intellia Therapeutics (NTLA -0.54%) is another biotech stock that weighed down the performances of Wood's ARKK and ARKG ETFs in 2023. Shares of Intellia fell nearly 13% last year.

However, some extremely bullish analysts like the stock's prospects in 2024. The average 12-month price target for Intellia reflects an upside potential of nearly 168%. Wood also still views this gene-editing leader in a favorable light, with both ARKK and ARKG scooping up more shares of Intellia in November.

Is Wall Street right about these stocks?

I wouldn't bet the farm that any of these four stocks in Wood's Ark Invest portfolio hit the average analysts' price targets this year. None of them performed well in 2023 while the overall stock market soared. There's no guarantee that they will jump in 2024, especially if macroeconomic issues arise.

However, I don't think Cathie Wood invested in these stocks with the expectation that they'll be huge winners over the near term. Instead, she's probably making a calculated wager that they will deliver strong gains over the next decade.

Guardant Health has tremendous opportunities in early cancer detection and therapy selection for cancer patients. Beam Therapeutics' base-editing approach for modifying DNA could be a game-changer in treating diseases. Likewise, Ginkgo's cell engineering technology holds tremendous potential in developing new drugs, protecting against biological weapons, and more. Intellia already has one gene-editing program in late-stage testing with another on track to advance into phase 3 this year.

Wall Street could be wrong about these four stocks skyrocketing from 83% to 168% in 2024. But Cathie Wood could still be proved right about the stocks over the long run.