Elevation Point Wealth Partners LLC Acquires New Position in Intellia Therapeutics, Inc. $NTLA

Key Points

• Elevation Point Wealth Partners acquired 188,207 shares of Intellia Therapeutics worth approximately $3.18 million, taking a 0.13% stake. Institutional investors collectively own 88.77% of the company.
• Analyst sentiment remains mixed: Evercore upgraded Intellia to “outperform,” while Wall Street Zen downgraded it to “strong sell.” The stock carries a consensus “Hold” rating and an average price target of $21.15.
• Intellia reported a quarterly loss of $0.80 per share in line with estimates, but revenue of $7.66 million missed expectations and declined 46.4% year over year. Shares opened at $12.84, with a market capitalization of approximately $1.80 billion.

Elevation Point Wealth Partners LLC acquired a new stake in Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 188,207 shares of the company's stock, valued at approximately $3,184,000. Elevation Point Wealth Partners LLC owned 0.13% of Intellia Therapeutics as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Intellia Therapeutics during the 3rd quarter valued at $30,000. Advisory Services Network LLC acquired a new position in shares of Intellia Therapeutics in the third quarter worth $33,000. Headlands Technologies LLC acquired a new position in shares of Intellia Therapeutics in the second quarter worth $26,000. Comerica Bank increased its stake in shares of Intellia Therapeutics by 45.8% in the fourth quarter. Comerica Bank now owns 2,869 shares of the company's stock worth $26,000 after acquiring an additional 901 shares during the last quarter. Finally, Danske Bank A S purchased a new stake in shares of Intellia Therapeutics during the third quarter worth $50,000. Hedge funds and other institutional investors own 88.77% of the company's stock.

Insider Activity

In related news, CAO Michael P. Dube sold 2,641 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $16.78, for a total value of $44,315.98. Following the transaction, the chief accounting officer directly owned 66,886 shares of the company's stock, valued at approximately $1,122,347.08. This trade represents a 3.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 the business's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $18.00, for a total value of $84,186.00. Following the completion of the sale, the executive vice president owned 156,286 shares of the company's stock, valued at approximately $2,813,148. This trade represents a 2.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.50% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Evercore raised Intellia Therapeutics from a "hold" rating to an "outperform" rating and set a $24.00 price objective for the company in a research report on Friday, August 7th. Citizens Jmp reaffirmed a "market outperform" rating and set a $30.00 price target on shares of Intellia Therapeutics in a research note on Monday, June 15th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $49.00 price target on shares of Intellia Therapeutics in a research note on Tuesday, June 16th. Leerink Partners set a $35.00 price target on Intellia Therapeutics in a report on Monday, April 27th. Finally, Wall Street Zen cut Intellia Therapeutics from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $21.15.

Intellia Therapeutics Trading Up 3.2%

NTLA stock opened at $12.84 on Friday. The firm has a market cap of $1.80 billion, a PE ratio of -3.82 and a beta of 1.81. Intellia Therapeutics, Inc. has a 1 year low of $7.95 and a 1 year high of $28.25. The company has a fifty day simple moving average of $13.47 and a 200 day simple moving average of $13.35.

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

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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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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