Granahan Investment Management LLC Has $3.38 Million Stake in Intellia Therapeutics, Inc. $NTLA

Key Points

• Granahan Investment Management LLC has increased its stake in Intellia Therapeutics by 55.3%, now owning 475,946 shares valued at approximately $3.38 million.
• Various institutional investors have also made significant purchases, with notable increases including GF Fund Management buying new shares worth $25,000, and Quantbot Technologies lifting its holdings by 846.4%.
• Intellia Therapeutics reported a revenue increase of 104.3% year-over-year, totaling $14.25 million, but posted a quarterly loss of ($0.99) EPS, beating analyst expectations.

Granahan Investment Management LLC raised its holdings in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) by 55.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 475,946 shares of the company's stock after acquiring an additional 169,436 shares during the period. Granahan Investment Management LLC owned about 0.46% of Intellia Therapeutics worth $3,384,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. GF Fund Management CO. LTD. bought a new position in shares of Intellia Therapeutics in the fourth quarter worth approximately $25,000. Northwestern Mutual Wealth Management Co. boosted its stake in Intellia Therapeutics by 56.4% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,590 shares of the company's stock worth $33,000 after purchasing an additional 1,655 shares in the last quarter. Harbour Investments Inc. raised its position in Intellia Therapeutics by 76.7% in the 1st quarter. Harbour Investments Inc. now owns 5,214 shares of the company's stock worth $37,000 after buying an additional 2,264 shares during the last quarter. Quantbot Technologies LP increased its position in shares of Intellia Therapeutics by 846.4% during the 1st quarter. Quantbot Technologies LP now owns 6,663 shares of the company's stock valued at $47,000 after purchasing an additional 5,959 shares during the last quarter. Finally, 49 Wealth Management LLC purchased a new stake in Intellia Therapeutics in the 1st quarter worth approximately $74,000. 88.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director William J. Chase bought 100,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were purchased at an average cost of $10.03 per share, with a total value of $1,003,000.00. Following the completion of the acquisition, the director directly owned 134,693 shares in the company, valued at approximately $1,350,970.79. The trade was a 288.24% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Edward J. Dulac III sold 7,462 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $14.02, for a total value of $104,617.24. Following the sale, the executive vice president owned 106,062 shares in the company, valued at approximately $1,486,989.24. The trade was a 6.57% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,534 shares of company stock valued at $153,837. 3.10% of the stock is currently owned by corporate insiders.

Intellia Therapeutics Stock Performance

NASDAQ:NTLA traded up $0.27 during mid-day trading on Thursday, hitting $11.56. 2,478,601 shares of the company's stock traded hands, compared to its average volume of 4,091,746. The company has a market cap of $1.24 billion, a PE ratio of -2.46 and a beta of 2.28. The firm's 50 day simple moving average is $11.59 and its 200 day simple moving average is $9.61. Intellia Therapeutics, Inc. has a 1 year low of $5.90 and a 1 year high of $23.76.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.99) EPS for the quarter, topping analysts' consensus estimates of ($1.03) by $0.04. Intellia Therapeutics had a negative return on equity of 57.48% and a negative net margin of 908.48%.The firm had revenue of $14.25 million during the quarter, compared to analysts' expectations of $12.26 million. During the same quarter last year, the business posted ($1.52) EPS. The firm's quarterly revenue was up 104.3% compared to the same quarter last year. On average, research analysts expect that Intellia Therapeutics, Inc. will post -5.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NTLA. Wall Street Zen raised shares of Intellia Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. Royal Bank Of Canada decreased their price target on shares of Intellia Therapeutics from $25.00 to $21.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Chardan Capital decreased their price objective on shares of Intellia Therapeutics from $68.00 to $60.00 and set a "buy" rating for the company in a research report on Monday, August 11th. Guggenheim reaffirmed a "buy" rating and set a $14.00 price objective on shares of Intellia Therapeutics in a research note on Wednesday, August 13th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $45.00 target price (down previously from $50.00) on shares of Intellia Therapeutics in a research note on Friday, August 8th. Eleven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $27.11.

Intellia Therapeutics Company Profile

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.