Ballentine Partners LLC Buys New Position in Intellia Therapeutics, Inc. $NTLA

Key Points

• Ballentine Partners LLC has acquired a new stake in Intellia Therapeutics, purchasing 17,120 shares valued at approximately $161,000 during the 2nd quarter.
• Vanguard Group and ARK Investment Management have also increased their holdings in Intellia, indicating strong institutional interest, with institutional investors collectively owning 88.77% of the company's stock.
• Analysts have varying price targets for Intellia Therapeutics, with a report from Guggenheim setting a target at $14.00 while Wells Fargo adjusted theirs to $45.00, reflecting differing outlooks on the company’s performance.

Ballentine Partners LLC bought a new stake in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,120 shares of the company's stock, valued at approximately $161,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NTLA. Vanguard Group Inc. boosted its position in shares of Intellia Therapeutics by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 10,752,031 shares of the company's stock valued at $76,447,000 after purchasing an additional 561,978 shares in the last quarter. ARK Investment Management LLC boosted its position in shares of Intellia Therapeutics by 3.8% during the 1st quarter. ARK Investment Management LLC now owns 13,011,015 shares of the company's stock valued at $92,508,000 after purchasing an additional 474,629 shares in the last quarter. Armistice Capital LLC bought a new stake in shares of Intellia Therapeutics during the 1st quarter valued at about $2,588,000. Nuveen LLC bought a new stake in shares of Intellia Therapeutics during the 1st quarter valued at about $1,936,000. Finally, Voya Investment Management LLC boosted its position in shares of Intellia Therapeutics by 621.5% during the 1st quarter. Voya Investment Management LLC now owns 208,009 shares of the company's stock valued at $1,479,000 after purchasing an additional 179,180 shares in the last quarter. Institutional investors own 88.77% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on NTLA shares. Guggenheim reiterated a "buy" rating and issued a $14.00 price target on shares of Intellia Therapeutics in a report on Wednesday, August 13th. Chardan Capital cut their price target on Intellia Therapeutics from $68.00 to $60.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Wells Fargo & Company reiterated an "overweight" rating and issued a $45.00 price target (down previously from $50.00) on shares of Intellia Therapeutics in a report on Friday, August 8th. JMP Securities reiterated a "market perform" rating on shares of Intellia Therapeutics in a report on Friday, September 19th. Finally, Canaccord Genuity Group cut their price target on Intellia Therapeutics from $74.00 to $54.00 and set a "buy" rating on the stock in a report on Tuesday, June 3rd. Eleven analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Intellia Therapeutics has an average rating of "Moderate Buy" and an average target price of $27.39.

Insider Buying and Selling at Intellia Therapeutics

In other news, EVP Edward J. Dulac III sold 7,462 shares of Intellia Therapeutics stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $14.02, for a total value of $104,617.24. Following the completion of the transaction, the executive vice president directly owned 106,062 shares in the company, valued at approximately $1,486,989.24. The trade was a 6.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William J. Chase purchased 100,000 shares of Intellia Therapeutics stock in a transaction dated Wednesday, August 20th. The stock was bought at an average price of $10.03 per share, with a total value of $1,003,000.00. Following the completion of the transaction, the director owned 134,693 shares of the company's stock, valued at $1,350,970.79. This represents a 288.24% increase in their position. The disclosure for this purchase can be found here. 3.10% of the stock is currently owned by insiders.

Intellia Therapeutics Price Performance

NASDAQ:NTLA opened at $17.27 on Wednesday. The business has a fifty day simple moving average of $12.51 and a two-hundred day simple moving average of $10.10. Intellia Therapeutics, Inc. has a 1 year low of $5.90 and a 1 year high of $21.47. The company has a market capitalization of $1.85 billion, a P/E ratio of -3.68 and a beta of 2.28.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.99) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $14.25 million during the quarter, compared to the consensus estimate of $12.26 million. During the same period last year, the business posted ($1.52) earnings per share. The business's revenue for the quarter was up 104.3% on a year-over-year basis. As a group, analysts anticipate that Intellia Therapeutics, Inc. will post -5.07 earnings per share for the current 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.

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