Armistice Capital LLC Buys Shares of 364,000 Intellia Therapeutics, Inc. $NTLA

Key Points

• Armistice Capital LLC has invested approximately $2.59 million in Intellia Therapeutics, acquiring 364,000 shares, which represents a 0.35% ownership stake as of their recent SEC filing.
• Recent analyst ratings show a mixed outlook for Intellia, with a consensus target price of $29.05 and ratings varying from "buy" to "neutral."
• Intellia reported a quarterly revenue of $14.25 million, exceeding analyst expectations, but had a negative EPS of ($0.99), indicating ongoing financial challenges.

Armistice Capital LLC bought a new stake in Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 364,000 shares of the company's stock, valued at approximately $2,588,000. Armistice Capital LLC owned approximately 0.35% of Intellia Therapeutics as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. GF Fund Management CO. LTD. purchased a new stake in shares of Intellia Therapeutics in the fourth quarter valued at $25,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Intellia Therapeutics by 56.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,590 shares of the company's stock valued at $33,000 after purchasing an additional 1,655 shares in the last quarter. Harbour Investments Inc. lifted its holdings in shares of Intellia Therapeutics by 76.7% in the first quarter. Harbour Investments Inc. now owns 5,214 shares of the company's stock valued at $37,000 after purchasing an additional 2,264 shares in the last quarter. Quantbot Technologies LP lifted its holdings in shares of Intellia Therapeutics by 846.4% in the first quarter. Quantbot Technologies LP now owns 6,663 shares of the company's stock valued at $47,000 after purchasing an additional 5,959 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Intellia Therapeutics by 1,961.2% in the first quarter. GAMMA Investing LLC now owns 7,544 shares of the company's stock valued at $540,000 after purchasing an additional 7,178 shares in the last quarter. Hedge funds and other institutional investors own 88.77% of the company's stock.

Insider Activity

In other Intellia Therapeutics news, EVP Edward J. Dulac III sold 7,462 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $14.02, for a total transaction of $104,617.24. Following the transaction, the executive vice president directly owned 106,062 shares in the company, valued at $1,486,989.24. This trade represents a 6.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William J. Chase bought 100,000 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were bought at an average price of $10.03 per share, for a total transaction of $1,003,000.00. Following the completion of the acquisition, the director owned 134,693 shares of the company's stock, valued at approximately $1,350,970.79. This represents a 288.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 12,534 shares of company stock worth $153,837. Corporate insiders own 3.10% of the company's stock.

Intellia Therapeutics Stock Performance

Shares of NASDAQ:NTLA traded up $0.31 during midday trading on Wednesday, hitting $11.71. 4,671,293 shares of the stock were exchanged, compared to its average volume of 4,145,561. Intellia Therapeutics, Inc. has a 52-week low of $5.90 and a 52-week high of $23.76. The business's fifty day simple moving average is $11.40 and its two-hundred day simple moving average is $9.61. The company has a market capitalization of $1.26 billion, a PE ratio of -2.50 and a beta of 2.28.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.99) earnings per share for the quarter, beating the consensus estimate of ($1.03) by $0.04. Intellia Therapeutics had a negative return on equity of 57.48% and a negative net margin of 908.48%.The company had revenue of $14.25 million for the quarter, compared to analyst estimates of $12.26 million. During the same period last year, the company earned ($1.52) earnings per share. The business's revenue was up 104.3% compared to the same quarter last year. As a group, equities analysts anticipate that Intellia Therapeutics, Inc. will post -5.07 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on NTLA shares. Wells Fargo & Company restated an "overweight" rating and issued a $45.00 target price (down previously from $50.00) on shares of Intellia Therapeutics in a report on Friday, August 8th. Wedbush reiterated a "neutral" rating and set a $7.00 price objective on shares of Intellia Therapeutics in a report on Monday, June 16th. HC Wainwright cut their price objective on Intellia Therapeutics from $30.00 to $25.00 and set a "buy" rating for the company in a report on Friday, August 8th. Chardan Capital cut their price objective on Intellia Therapeutics from $68.00 to $60.00 and set a "buy" rating for the company in a report on Monday, August 11th. Finally, Citigroup cut their price objective on Intellia Therapeutics from $14.00 to $10.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Twelve analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Intellia Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $29.05.

About Intellia Therapeutics

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.