Millennium Management LLC Boosts Stock Position in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Millennium Management LLC lifted its position in Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) by 190.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 668,926 shares of the company's stock after acquiring an additional 438,625 shares during the quarter. Millennium Management LLC owned 0.66% of Intellia Therapeutics worth $7,800,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. ARK Investment Management LLC lifted its stake in Intellia Therapeutics by 2.3% in the fourth quarter. ARK Investment Management LLC now owns 12,536,386 shares of the company's stock worth $146,174,000 after acquiring an additional 280,946 shares during the period. Vanguard Group Inc. lifted its stake in Intellia Therapeutics by 5.8% in the fourth quarter. Vanguard Group Inc. now owns 10,190,053 shares of the company's stock worth $118,816,000 after acquiring an additional 562,249 shares during the period. Regeneron Pharmaceuticals Inc. purchased a new stake in Intellia Therapeutics in the fourth quarter worth about $43,177,000. Geode Capital Management LLC lifted its stake in Intellia Therapeutics by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 2,389,240 shares of the company's stock worth $27,865,000 after acquiring an additional 45,930 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Intellia Therapeutics by 36.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,976,212 shares of the company's stock worth $23,042,000 after acquiring an additional 528,962 shares during the period. 88.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on NTLA. Wells Fargo & Company lowered their target price on Intellia Therapeutics from $60.00 to $50.00 and set an "overweight" rating for the company in a report on Friday, February 28th. The Goldman Sachs Group restated a "sell" rating and issued a $9.00 target price on shares of Intellia Therapeutics in a research note on Friday, February 28th. Wedbush restated a "neutral" rating and issued a $7.00 target price (down previously from $10.00) on shares of Intellia Therapeutics in a research note on Thursday. Truist Financial reduced their target price on Intellia Therapeutics from $90.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. Finally, Chardan Capital restated a "buy" rating and issued a $68.00 target price on shares of Intellia Therapeutics in a research note on Friday, May 9th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Intellia Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $36.75.

Intellia Therapeutics Price Performance

NASDAQ NTLA traded down $2.21 during trading hours on Thursday, reaching $7.45. The company's stock had a trading volume of 24,200,350 shares, compared to its average volume of 2,663,230. The firm has a market capitalization of $771.69 million, a price-to-earnings ratio of -1.37 and a beta of 2.33. Intellia Therapeutics, Inc. has a 1-year low of $5.90 and a 1-year high of $28.18. The company's 50-day moving average is $8.01 and its two-hundred day moving average is $10.44.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($1.10) earnings per share for the quarter, topping analysts' consensus estimates of ($1.26) by $0.16. The business had revenue of $16.63 million during the quarter, compared to analyst estimates of $11.39 million. The business's revenue for the quarter was down 42.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.12) EPS. Equities analysts forecast that Intellia Therapeutics, Inc. will post -5.07 EPS for the current fiscal year.

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.