Canal Insurance CO Invests $899,000 in Intellia Therapeutics, Inc. $NTLA

Key Points

• Canal Insurance Co. bought 100,000 shares of Intellia Therapeutics (NASDAQ:NTLA) in Q4, a new position valued at about $899,000 that represented roughly 0.09% of the company.
• Intellia beat Q4 estimates with EPS of ($0.83) vs. ($0.99) and revenue of $23.02 million (up 78% YoY), but remains unprofitable with a very negative net margin and return on equity.
• Analyst sentiment is mixed—MarketBeat shows an average rating of "Hold" with a $20.09 target—while the stock trades near $13.71 (52-week range $6.83–$28.25) and has a $1.65 billion market cap.

Canal Insurance CO bought a new position in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 100,000 shares of the company's stock, valued at approximately $899,000. Canal Insurance CO owned approximately 0.09% of Intellia Therapeutics at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Intellia Therapeutics by 14.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,085 shares of the company's stock worth $286,000 after purchasing an additional 3,944 shares in the last quarter. Benjamin Edwards Inc. lifted its position in shares of Intellia Therapeutics by 22.1% during the fourth quarter. Benjamin Edwards Inc. now owns 79,200 shares of the company's stock worth $712,000 after purchasing an additional 14,350 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Intellia Therapeutics by 0.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 105,165 shares of the company's stock worth $945,000 after purchasing an additional 808 shares in the last quarter. Wealthfront Advisers LLC acquired a new position in shares of Intellia Therapeutics during the fourth quarter worth approximately $121,000. Finally, Comerica Bank lifted its position in shares of Intellia Therapeutics by 45.8% during the fourth quarter. Comerica Bank now owns 2,869 shares of the company's stock worth $26,000 after purchasing an additional 901 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Intellia Therapeutics Price Performance

Shares of NASDAQ NTLA opened at $13.71 on Friday. The company's 50 day simple moving average is $13.65 and its 200 day simple moving average is $12.41. Intellia Therapeutics, Inc. has a fifty-two week low of $6.83 and a fifty-two week high of $28.25. The firm has a market capitalization of $1.65 billion, a P/E ratio of -3.58 and a beta of 1.93.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($0.99) by $0.16. Intellia Therapeutics had a negative net margin of 609.85% and a negative return on equity of 56.81%. The firm had revenue of $23.02 million during the quarter, compared to the consensus estimate of $12.17 million. During the same quarter in the prior year, the firm earned ($1.27) earnings per share. The business's quarterly revenue was up 78.4% on a year-over-year basis. Sell-side analysts expect that Intellia Therapeutics, Inc. will post -3.5 EPS for the current fiscal year.

Analyst Ratings Changes

NTLA has been the topic of several analyst reports. KeyCorp set a $25.00 price objective on shares of Intellia Therapeutics in a report on Wednesday, January 28th. Truist Financial upgraded shares of Intellia Therapeutics to a "strong-buy" rating in a report on Wednesday, March 25th. The Goldman Sachs Group increased their price objective on shares of Intellia Therapeutics from $8.00 to $9.00 and gave the company a "sell" rating in a report on Tuesday, April 28th. HC Wainwright increased their price objective on shares of Intellia Therapeutics from $25.00 to $30.00 and gave the company a "buy" rating in a report on Tuesday, March 3rd. Finally, Wells Fargo & Company increased their price objective on shares of Intellia Therapeutics from $12.00 to $15.00 and gave the company an "equal weight" rating in a report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Intellia Therapeutics has an average rating of "Hold" and an average target price of $20.09.

About Intellia Therapeutics

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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