321,274 Shares in Intellia Therapeutics, Inc. $NTLA Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management acquired 321,274 Intellia Therapeutics shares worth approximately $3.875 million, representing about 0.23% of the company. Institutional investors collectively own 88.77% of NTLA.
• Intellia reported a quarterly loss of $0.80 per share, in line with estimates, but revenue of $7.66 million fell short of the $12.98 million consensus and declined 46.4% year over year.
• NTLA recently traded at $11.84, while analysts maintained a consensus “Hold” rating with an average price target of $20.72; individual ratings ranged from “Strong Buy” to “Sell.”

Assenagon Asset Management S.A. bought a new position in Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm bought 321,274 shares of the company's stock, valued at approximately $3,875,000. Assenagon Asset Management S.A. owned approximately 0.23% of Intellia Therapeutics as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE raised its holdings in shares of Intellia Therapeutics by 11.2% in the first quarter. Bank of America Corp DE now owns 1,381,703 shares of the company's stock valued at $17,713,000 after purchasing an additional 139,325 shares during the last quarter. Royal Bank of Canada lifted its stake in Intellia Therapeutics by 1,082.1% in the first quarter. Royal Bank of Canada now owns 465,499 shares of the company's stock valued at $5,968,000 after purchasing an additional 426,121 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Intellia Therapeutics in the second quarter valued at $1,595,000. BlackRock Inc. purchased a new stake in Intellia Therapeutics during the second quarter valued at about $260,721,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Intellia Therapeutics during the 2nd quarter valued at approximately $6,948,000. 88.77% of the stock is owned by institutional investors.

Intellia Therapeutics Trading Up 2.2%

NTLA stock opened at $11.84 on Wednesday. The company's 50 day moving average is $12.26 and its 200 day moving average is $13.16. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of -3.52 and a beta of 1.80. Intellia Therapeutics, Inc. has a 1-year low of $7.95 and a 1-year high of $27.86.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.80). Intellia Therapeutics had a negative net margin of 672.16% and a negative return on equity of 57.79%. The business had revenue of $7.66 million during the quarter, compared to analyst estimates of $12.98 million. During the same period in the previous year, the business posted ($0.98) earnings per share. Intellia Therapeutics's revenue for the quarter was down 46.4% on a year-over-year basis. As a group, sell-side analysts forecast that Intellia Therapeutics, Inc. will post -3.21 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Intellia Therapeutics in a research report on Thursday, October 15th. HC Wainwright reiterated a "buy" rating and issued a $25.00 price target on shares of Intellia Therapeutics in a research report on Wednesday, September 9th. Wolfe Research cut Intellia Therapeutics from a "peer perform" rating to an "underperform" rating and set a $9.00 price target for the company. in a research report on Wednesday, July 15th. Wedbush boosted their price objective on Intellia Therapeutics from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Wednesday, September 9th. Finally, Barclays initiated coverage on Intellia Therapeutics in a research note on Tuesday, October 6th. They set an "underweight" rating and a $8.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, Intellia Therapeutics currently has a consensus rating of "Hold" and an average target price of $20.72.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc is a biotechnology company focused on developing potentially curative treatments using CRISPR-based gene-editing technology. The company is working to create therapies that can modify disease-causing genes inside the body, with the goal of addressing the underlying causes of serious genetic diseases rather than treating only their symptoms.

Intellia's pipeline has included NTLA-2001, an investigational in vivo gene-editing therapy designed to reduce production of transthyretin for the treatment of transthyretin amyloidosis, and NTLA-2002, an investigational therapy intended to target hereditary angioedema.

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