ARK Investment Management LLC Has $92.51 Million Position in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Key Points

• ARK Investment Management LLC increased its stake in Intellia Therapeutics by 3.8%, now owning approximately 12.56% of the company valued at $92.51 million.
• Analysts have set varied price targets for the stock, with Chardan Capital maintaining a "buy" rating and a price objective of $68.00, while Citigroup lowered their target to $10.00.
• Intellia Therapeutics reported a net revenue of $16.63 million for the last quarter, exceeding estimates, but still posted a loss of ($1.10) EPS, a decrease compared to the previous year.

ARK Investment Management LLC grew its stake in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) by 3.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 13,011,015 shares of the company's stock after buying an additional 474,629 shares during the period. ARK Investment Management LLC owned approximately 12.56% of Intellia Therapeutics worth $92,508,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NTLA. GF Fund Management CO. LTD. bought a new stake in Intellia Therapeutics in the fourth quarter valued at about $25,000. Sterling Capital Management LLC increased its stake in Intellia Therapeutics by 866.2% in the fourth quarter. Sterling Capital Management LLC now owns 3,198 shares of the company's stock valued at $37,000 after acquiring an additional 2,867 shares during the period. Resona Asset Management Co. Ltd. bought a new stake in Intellia Therapeutics in the fourth quarter valued at about $43,000. Virtus ETF Advisers LLC increased its stake in Intellia Therapeutics by 47.7% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,242 shares of the company's stock valued at $61,000 after acquiring an additional 1,692 shares during the period. Finally, 49 Wealth Management LLC bought a new stake in Intellia Therapeutics during the first quarter worth about $74,000. Institutional investors own 88.77% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on NTLA. Chardan Capital reaffirmed a "buy" rating and set a $68.00 price objective on shares of Intellia Therapeutics in a research note on Friday, May 9th. Guggenheim decreased their price objective on shares of Intellia Therapeutics from $55.00 to $45.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Wolfe Research upgraded shares of Intellia Therapeutics from a "peer perform" rating to an "outperform" rating and set a $21.00 target price on the stock in a research report on Monday, April 21st. Citigroup reduced their target price on shares of Intellia Therapeutics from $14.00 to $10.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Finally, HC Wainwright reiterated a "buy" rating and set a $30.00 target price on shares of Intellia Therapeutics in a research report on Monday, June 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $33.37.

Insider Activity

In other news, EVP Edward J. Dulac III sold 7,462 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $14.02, for a total transaction of $104,617.24. Following the completion of the sale, the executive vice president owned 106,062 shares of the company's stock, valued at $1,486,989.24. This represents a 6.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 12,799 shares of company stock worth $156,089 over the last ninety days. 3.10% of the stock is owned by corporate insiders.

Intellia Therapeutics Stock Performance

NTLA opened at $13.60 on Friday. The firm's fifty day moving average is $9.96 and its two-hundred day moving average is $9.40. The firm has a market cap of $1.41 billion, a PE ratio of -2.60 and a beta of 2.21. Intellia Therapeutics, Inc. has a twelve month low of $5.90 and a twelve month high of $27.42.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($1.10) earnings per share for the quarter, topping the consensus estimate of ($1.26) by $0.16. Intellia Therapeutics had a negative net margin of 1,154.10% and a negative return on equity of 56.06%. The company had revenue of $16.63 million for the quarter, compared to analyst estimates of $11.39 million. During the same period last year, the business posted ($1.12) earnings per share. The business's revenue for the quarter was down 42.6% compared to the same quarter last year. Equities analysts forecast that Intellia Therapeutics, Inc. will post -5.07 EPS for the current fiscal year.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc, a genome editing company, focuses on the development of curative therapeutics. The company's in vivo programs include NTLA-2001, which is in Phase 1 clinical trial for the treatment of transthyretin amyloidosis; NTLA-2002 for the treatment of hereditary angioedema; and NTLA-3001 for alpha-1 antitrypsin deficiency associated lung disease.

Want to see what other hedge funds are holding NTLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.