BlackRock Inc. Acquires New Position in Intellia Therapeutics, Inc. $NTLA

BlackRock Inc. bought a new position in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 15,409,023 shares of the company's stock, valued at approximately $260,721,000. BlackRock Inc. owned 11.03% of Intellia Therapeutics at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Deutsche Bank AG acquired a new position in shares of Intellia Therapeutics during the second quarter worth about $3,563,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Intellia Therapeutics in the 2nd quarter valued at $363,000. Bank of New York Mellon Corp acquired a new position in shares of Intellia Therapeutics during the 2nd quarter worth approximately $6,948,000. State of Wyoming bought a new position in shares of Intellia Therapeutics in the second quarter worth $51,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Intellia Therapeutics during the 2nd quarter worth approximately $234,000. Institutional investors and hedge funds own 88.77% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NTLA shares. Citizens Jmp reiterated a "market outperform" rating and issued a $30.00 price target on shares of Intellia Therapeutics in a research note on Tuesday. Citigroup restated a "market outperform" rating on shares of Intellia Therapeutics in a research report on Tuesday. Evercore raised Intellia Therapeutics from a "hold" rating to an "outperform" rating and set a $24.00 price objective on the stock in a research note on Friday, August 7th. 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. Finally, Wall Street Zen cut shares of Intellia Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $21.15.

Insider Activity

In related news, EVP Edward J. Dulac III sold 4,677 shares of the firm's stock in a transaction that occurred on 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Michael P. Dube sold 2,641 shares of Intellia Therapeutics stock in a transaction that occurred on 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 in the company, valued at approximately $1,122,347.08. This represents a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 3.50% of the company's stock.

Intellia Therapeutics Stock Down 2.4%

NASDAQ NTLA opened at $13.19 on Thursday. Intellia Therapeutics, Inc. has a twelve month low of $7.95 and a twelve month high of $28.25. The company has a market cap of $1.85 billion, a price-to-earnings ratio of -3.93 and a beta of 1.81. The business's fifty day moving average is $13.36 and its 200 day moving average is $13.37.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.80). Intellia Therapeutics had a negative return on equity of 57.79% and a negative net margin of 672.16%.The business had revenue of $7.66 million during the quarter, compared to analysts' expectations of $12.98 million. During the same quarter in the prior year, the firm earned ($0.98) EPS. The business's revenue for the quarter was down 46.4% compared to the same quarter last year. On average, research analysts anticipate that Intellia Therapeutics, Inc. will post -3.21 earnings per share for the current fiscal year.

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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