Bank of New York Mellon Corp Makes New $6.95 Million Investment in Intellia Therapeutics, Inc. $NTLA

Key Points

• Bank of New York Mellon acquired 410,654 Intellia Therapeutics shares worth approximately $6.95 million, giving it a 0.29% stake. Institutional investors collectively own 88.77% of NTLA.
• Intellia reported a quarterly loss of $0.80 per share, in line with estimates, but revenue of $7.66 million fell short of the $12.98 million consensus and declined 46.4% year over year.
• NTLA shares opened at $12.68, while analyst sentiment remained mixed: the stock carries a consensus “Hold” rating and an average price target of $21.15.

Bank of New York Mellon Corp purchased a new stake in Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 410,654 shares of the company's stock, valued at approximately $6,948,000. Bank of New York Mellon Corp owned approximately 0.29% of Intellia Therapeutics as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NTLA. Comerica Bank boosted its stake in shares of Intellia Therapeutics by 45.8% during the 4th quarter. Comerica Bank now owns 2,869 shares of the company's stock worth $26,000 after acquiring an additional 901 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Intellia Therapeutics during the second quarter valued at $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Intellia Therapeutics during the 3rd quarter worth about $30,000. Advisory Services Network LLC acquired a new stake in Intellia Therapeutics during the third quarter worth approximately $33,000. Finally, Fifth Third Bancorp purchased a new position in shares of Intellia Therapeutics during the 1st quarter worth $38,000. Institutional investors and hedge funds own 88.77% of the company's stock.

Intellia Therapeutics Trading Down 0.6%

Shares of Intellia Therapeutics stock opened at $12.68 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 $1.78 billion, a P/E ratio of -3.77 and a beta of 1.82. The business's fifty day moving average price is $13.02 and its 200 day moving average price is $13.41.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.80). The firm had revenue of $7.66 million during the quarter, compared to the consensus estimate of $12.98 million. Intellia Therapeutics had a negative return on equity of 57.79% and a negative net margin of 672.16%.The firm's quarterly revenue was down 46.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.98) earnings per share. As a group, sell-side analysts predict that Intellia Therapeutics, Inc. will post -3.21 EPS for the current year.

Insider Transactions at Intellia Therapeutics

In other news, CAO Michael Dube sold 2,641 shares of the business'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 completion of the sale, the chief accounting officer owned 66,886 shares in the company, valued at approximately $1,122,347.08. The trade was a 3.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP J III sold 4,677 shares of the 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 sale, the executive vice president directly owned 156,286 shares of the company's stock, valued at approximately $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. 3.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NTLA shares. Sanford C. Bernstein raised their price objective on Intellia Therapeutics from $13.00 to $17.00 and gave the stock a "market perform" rating in a report on Wednesday, May 13th. Wall Street Zen downgraded Intellia Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 8th. Wedbush raised their price target on Intellia Therapeutics from $12.00 to $17.00 and gave the stock a "neutral" rating in a research note on Friday, July 10th. HC Wainwright restated a "buy" rating and issued a $25.00 price target on shares of Intellia Therapeutics in a report on Monday, June 15th. Finally, Wolfe Research downgraded shares of Intellia Therapeutics from a "peer perform" rating to an "underperform" rating and set a $9.00 price objective for the company. in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $21.15.

Intellia Therapeutics Profile

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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