Polar Asset Management Partners Inc. Increases Stock Position in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Polar Asset Management Partners Inc. grew its position in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) by 1,144.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 282,400 shares of the company's stock after purchasing an additional 259,700 shares during the quarter. Polar Asset Management Partners Inc. owned approximately 0.28% of Intellia Therapeutics worth $3,293,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Regeneron Pharmaceuticals Inc. bought a new stake in Intellia Therapeutics during the 4th quarter worth approximately $43,177,000. Voloridge Investment Management LLC grew its stake in shares of Intellia Therapeutics by 226.8% in the fourth quarter. Voloridge Investment Management LLC now owns 1,526,994 shares of the company's stock worth $17,805,000 after purchasing an additional 1,059,751 shares during the last quarter. Contrarius Group Holdings Ltd bought a new position in shares of Intellia Therapeutics during the fourth quarter worth about $11,798,000. Two Sigma Advisers LP raised its position in shares of Intellia Therapeutics by 94.5% during the fourth quarter. Two Sigma Advisers LP now owns 1,998,317 shares of the company's stock worth $23,300,000 after acquiring an additional 970,700 shares during the last quarter. Finally, Two Sigma Investments LP lifted its stake in shares of Intellia Therapeutics by 88.1% in the fourth quarter. Two Sigma Investments LP now owns 1,843,743 shares of the company's stock worth $21,498,000 after acquiring an additional 863,363 shares during the period. 88.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NTLA has been the subject of several analyst reports. Wolfe Research upgraded shares of Intellia Therapeutics from a "peer perform" rating to an "outperform" rating and set a $21.00 price target for the company in a report on Monday, April 21st. Chardan Capital reissued a "buy" rating and set a $68.00 target price on shares of Intellia Therapeutics in a research note on Friday, May 9th. Truist Financial dropped their target price on shares of Intellia Therapeutics from $90.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Wedbush reiterated a "neutral" rating and set a $7.00 price target (down from $10.00) on shares of Intellia Therapeutics in a report on Thursday. Finally, Citigroup lowered their price objective on Intellia Therapeutics from $14.00 to $10.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.75.

Intellia Therapeutics Stock Performance

NTLA traded down $2.21 during trading on Thursday, reaching $7.45. The stock had a trading volume of 24,200,350 shares, compared to its average volume of 2,663,274. The business has a 50-day moving average of $8.01 and a 200-day moving average of $10.44. Intellia Therapeutics, Inc. has a one year low of $5.90 and a one year high of $28.18. The stock has a market cap of $771.69 million, a PE ratio of -1.37 and a beta of 2.33.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($1.10) EPS for the quarter, beating the consensus estimate of ($1.26) by $0.16. The firm had revenue of $16.63 million for the quarter, compared to analysts' expectations of $11.39 million. The business's quarterly revenue was down 42.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.12) EPS. Equities research 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.