Bank of America Corp DE Decreases Position in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Bank of America Corp DE decreased its holdings in Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) by 10.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 639,696 shares of the company's stock after selling 76,495 shares during the period. Bank of America Corp DE owned about 0.63% of Intellia Therapeutics worth $7,459,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Benjamin Edwards Inc. raised its stake in Intellia Therapeutics by 11.1% in the fourth quarter. Benjamin Edwards Inc. now owns 64,065 shares of the company's stock worth $747,000 after buying an additional 6,396 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Intellia Therapeutics by 78.0% in the fourth quarter. BNP Paribas Financial Markets now owns 438,458 shares of the company's stock worth $5,112,000 after buying an additional 192,096 shares in the last quarter. Algert Global LLC increased its position in shares of Intellia Therapeutics by 13.6% during the fourth quarter. Algert Global LLC now owns 69,354 shares of the company's stock worth $809,000 after purchasing an additional 8,312 shares in the last quarter. Aptus Capital Advisors LLC acquired a new position in shares of Intellia Therapeutics during the fourth quarter worth $1,624,000. Finally, PDT Partners LLC increased its position in shares of Intellia Therapeutics by 2,111.5% during the fourth quarter. PDT Partners LLC now owns 327,608 shares of the company's stock worth $3,820,000 after purchasing an additional 312,794 shares in the last quarter. Institutional investors own 88.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Chardan Capital reaffirmed a "buy" rating and set a $68.00 price target on shares of Intellia Therapeutics in a research report on Friday, May 9th. Barclays dropped their price objective on shares of Intellia Therapeutics from $55.00 to $26.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Truist Financial dropped their price objective on shares of Intellia Therapeutics from $90.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Wedbush reissued a "neutral" rating and set a $7.00 price objective (down from $10.00) on shares of Intellia Therapeutics in a report on Thursday. Finally, Citigroup dropped their price objective on shares of Intellia Therapeutics from $14.00 to $10.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $36.75.

Intellia Therapeutics Trading Down 4.5%

Shares of Intellia Therapeutics stock traded down $0.34 during trading hours on Friday, reaching $7.12. The stock had a trading volume of 2,278,966 shares, compared to its average volume of 2,663,018. The firm has a market capitalization of $736.99 million, a PE ratio of -1.30 and a beta of 2.33. Intellia Therapeutics, Inc. has a twelve month low of $5.90 and a twelve month high of $28.18. The stock's 50 day moving average is $8.01 and its 200 day moving average is $10.44.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($1.10) earnings per share for the quarter, beating analysts' consensus estimates of ($1.26) by $0.16. The company had revenue of $16.63 million during the quarter, compared to analysts' expectations of $11.39 million. The company's quarterly revenue was down 42.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.12) earnings per share. As a group, sell-side analysts predict that Intellia Therapeutics, Inc. will post -5.07 earnings per share for the current year.

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.