Sumitomo Mitsui Trust Group Inc. Sells 167,302 Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,825,361 shares of the company's stock after selling 167,302 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 2.73% of Intellia Therapeutics worth $20,088,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of NTLA. Oppenheimer & Co. Inc. purchased a new position in shares of Intellia Therapeutics during the fourth quarter worth about $209,000. Jones Financial Companies Lllp grew its holdings in shares of Intellia Therapeutics by 140.9% during the fourth quarter. Jones Financial Companies Lllp now owns 3,898 shares of the company's stock worth $45,000 after purchasing an additional 2,280 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of Intellia Therapeutics during the fourth quarter worth about $213,000. Arizona State Retirement System grew its holdings in shares of Intellia Therapeutics by 6.1% during the fourth quarter. Arizona State Retirement System now owns 28,006 shares of the company's stock worth $327,000 after purchasing an additional 1,615 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Intellia Therapeutics during the fourth quarter worth about $4,793,000. Hedge funds and other institutional investors own 88.77% of the company's stock.

Intellia Therapeutics Trading Down 0.1%

NTLA stock traded down $0.02 during trading on Friday, reaching $10.72. The stock had a trading volume of 2,811,328 shares, compared to its average volume of 2,979,700. Intellia Therapeutics, Inc. has a 52 week low of $5.90 and a 52 week high of $28.18. The stock's 50 day moving average is $8.77 and its two-hundred day moving average is $9.36. The firm has a market cap of $1.11 billion, a PE ratio of -2.05 and a beta of 2.21.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($1.10) earnings per share for the quarter, beating analysts' consensus estimates of ($1.26) by $0.16. Intellia Therapeutics had a negative return on equity of 56.06% and a negative net margin of 1,154.10%. The company had revenue of $16.63 million for the quarter, compared to the consensus estimate of $11.39 million. During the same quarter in the prior year, the company earned ($1.12) earnings per share. Intellia Therapeutics's revenue was down 42.6% on a year-over-year basis. On average, research analysts anticipate that Intellia Therapeutics, Inc. will post -5.07 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Canaccord Genuity Group cut their price objective on Intellia Therapeutics from $74.00 to $54.00 and set a "buy" rating for the company in a report on Tuesday, June 3rd. Wedbush restated a "neutral" rating and issued a $7.00 target price on shares of Intellia Therapeutics in a research report on Monday, June 16th. Chardan Capital restated a "buy" rating and issued a $68.00 target price on shares of Intellia Therapeutics in a research report on Friday, May 9th. Guggenheim dropped their target price on Intellia Therapeutics from $55.00 to $45.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Finally, Citigroup dropped their target price 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 analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $33.37.

Intellia Therapeutics 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.