Arrowstreet Capital Limited Partnership Makes New Investment in Intellia Therapeutics, Inc. $NTLA

Key Points

• Arrowstreet Capital initiated a new position in Intellia Therapeutics, purchasing 1.4 million shares valued at approximately $17.9 million, or about 1% of the company. Institutional investors collectively own 88.77% of NTLA.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and a $20.19 average price target, with ratings ranging from Strong Buy to Sell.
• Intellia reported better-than-expected quarterly results, posting a loss of $0.81 per share versus the $0.92 estimate and revenue of $15.05 million. Despite this, the clinical-stage biotech remains unprofitable, with analysts projecting a full-year loss of $3.18 per share.

Arrowstreet Capital Limited Partnership bought a new stake in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,397,243 shares of the company's stock, valued at approximately $17,913,000. Arrowstreet Capital Limited Partnership owned 1.00% of Intellia Therapeutics at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. ARK Investment Management LLC boosted its holdings in Intellia Therapeutics by 19.2% during the 4th quarter. ARK Investment Management LLC now owns 14,207,324 shares of the company's stock valued at $127,724,000 after acquiring an additional 2,288,146 shares during the period. Vanguard Group Inc. grew its position in Intellia Therapeutics by 17.8% in the 4th quarter. Vanguard Group Inc. now owns 13,010,001 shares of the company's stock valued at $116,960,000 after acquiring an additional 1,965,181 shares during the last quarter. State Street Corp increased its stake in Intellia Therapeutics by 29.1% in the fourth quarter. State Street Corp now owns 6,418,836 shares of the company's stock worth $57,705,000 after purchasing an additional 1,447,967 shares during the period. Geode Capital Management LLC lifted its position in shares of Intellia Therapeutics by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 2,696,187 shares of the company's stock worth $24,243,000 after purchasing an additional 107,333 shares during the last quarter. Finally, Two Sigma Investments LP lifted its position in shares of Intellia Therapeutics by 7.6% during the third quarter. Two Sigma Investments LP now owns 2,449,607 shares of the company's stock worth $42,305,000 after purchasing an additional 173,033 shares during the last quarter. Institutional investors own 88.77% of the company's stock.

Insider Activity

In related news, CAO Michael P. Dube sold 2,641 shares of Intellia Therapeutics stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $16.78, for a total transaction of $44,315.98. Following the transaction, the chief accounting officer directly owned 66,886 shares of the company's stock, valued at $1,122,347.08. This trade represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Edward J. Dulac III sold 4,677 shares of the business's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $18.00, for a total transaction of $84,186.00. Following the completion of the transaction, the executive vice president directly owned 156,286 shares of the company's stock, valued at $2,813,148. This trade represents a 2.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NTLA shares. Canaccord Genuity Group reissued a "buy" rating and set a $49.00 target price on shares of Intellia Therapeutics in a research note on Tuesday, June 16th. HC Wainwright reaffirmed a "buy" rating and issued a $25.00 price target on shares of Intellia Therapeutics in a research note on Monday, June 15th. Wall Street Zen lowered shares of Intellia Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Chardan Capital boosted their price objective on shares of Intellia Therapeutics from $27.00 to $30.00 and gave the company a "buy" rating in a research report on Monday, April 27th. Finally, Wedbush upped their target price on shares of Intellia Therapeutics from $12.00 to $17.00 and gave the stock a "neutral" rating in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $20.19.

Intellia Therapeutics Trading Up 2.7%

Shares of NTLA stock opened at $11.09 on Friday. Intellia Therapeutics, Inc. has a twelve month low of $7.95 and a twelve month high of $28.25. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -3.13 and a beta of 1.77. The stock has a fifty day simple moving average of $13.89 and a two-hundred day simple moving average of $13.52.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.81) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.11. Intellia Therapeutics had a negative return on equity of 57.47% and a negative net margin of 597.04%.The firm had revenue of $15.05 million for the quarter, compared to analyst estimates of $13.81 million. During the same quarter last year, the firm posted ($1.10) earnings per share. Research analysts predict that Intellia Therapeutics, Inc. will post -3.18 EPS for the current fiscal year.

About Intellia Therapeutics

Intellia Therapeutics, Inc NASDAQ: NTLA is a clinical‐stage biotechnology company focused on developing potentially curative genome editing therapies using the CRISPR/Cas9 platform. The company's research spans both in vivo and ex vivo applications of CRISPR/Cas9, aiming to correct or disable disease‐causing genes with a single administration. Intellia's lead in vivo program targets transthyretin amyloidosis (ATTR) by delivering CRISPR/Cas9 machinery directly to the liver, while additional preclinical efforts pursue treatments for hemophilia A, hereditary angioedema and other genetic disorders.

Beyond its in vivo pipeline, Intellia collaborates with strategic partners to extend the impact of its genome editing approach.

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