Bank of America Corp DE boosted its position in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) by 11.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,381,703 shares of the company's stock after buying an additional 139,325 shares during the quarter. Bank of America Corp DE owned 0.99% of Intellia Therapeutics worth $17,713,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also bought and sold shares of the company. Royal Bank of Canada grew its stake in shares of Intellia Therapeutics by 1,082.1% during the first quarter. Royal Bank of Canada now owns 465,499 shares of the company's stock valued at $5,968,000 after buying an additional 426,121 shares during the last quarter. Wesbanco Bank Inc. bought a new stake in shares of Intellia Therapeutics during the 4th quarter worth approximately $575,000. Y Intercept Hong Kong Ltd purchased a new position in Intellia Therapeutics during the 1st quarter valued at $1,809,000. Canal Insurance CO boosted its holdings in Intellia Therapeutics by 130.0% during the 1st quarter. Canal Insurance CO now owns 230,000 shares of the company's stock valued at $2,949,000 after acquiring an additional 130,000 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Intellia Therapeutics during the 1st quarter valued at $17,913,000. Institutional investors own 88.77% of the company's stock.
Insiders Place Their Bets
In related news, CAO Michael P. Dube sold 2,641 shares of the firm's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $16.78, for a total transaction of $44,315.98. Following the sale, the chief accounting officer 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 document filed with the Securities & Exchange Commission, 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 Intellia Therapeutics stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $18.00, for a total value of $84,186.00. Following the completion of the transaction, the executive vice president owned 156,286 shares in the company, valued at $2,813,148. This trade represents a 2.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 3.50% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the company. Wedbush increased their target price on Intellia Therapeutics from $12.00 to $17.00 and gave the stock a "neutral" rating in a research note on Friday, July 10th. The Goldman Sachs Group boosted their target price on shares of Intellia Therapeutics from $8.00 to $9.00 and gave the company a "sell" rating in a research note on Tuesday, April 28th. New Street Research set a $25.00 price target on shares of Intellia Therapeutics in a report on Monday, June 15th. Sanford C. Bernstein raised their price target on shares of Intellia Therapeutics from $13.00 to $17.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 13th. Finally, Leerink Partners set a $35.00 price objective on shares of Intellia Therapeutics in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $21.15.
Get Our Latest Stock Report on Intellia Therapeutics
Intellia Therapeutics Stock Performance
NASDAQ NTLA opened at $13.28 on Thursday. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of -3.95 and a beta of 1.81. The company's 50-day simple moving average is $13.45 and its two-hundred day simple moving average is $13.36. Intellia Therapeutics, Inc. has a one year low of $7.95 and a one year high of $28.25.
Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.80) EPS for the quarter, meeting the consensus estimate of ($0.80). The business had revenue of $7.66 million during the quarter, compared to analyst estimates of $12.98 million. Intellia Therapeutics had a negative net margin of 672.16% and a negative return on equity of 57.79%. The company's quarterly revenue was down 46.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.98) EPS. Equities analysts expect that Intellia Therapeutics, Inc. will post -3.21 earnings per share for the current fiscal year.
Intellia Therapeutics Profile
(
Free Report)
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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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