Intellia Therapeutics, Inc. $NTLA Shares Newly Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 976,216 Intellia Therapeutics shares in the second quarter, worth approximately $16.5 million and representing a 0.70% stake. Institutional investors collectively own 88.77% of NTLA.
• Intellia reported a quarterly loss of $0.80 per share, in line with estimates, but revenue of $7.66 million fell short of the $12.98 million consensus and declined 46.4% year over year.
• Analyst sentiment remains mixed: the stock carries a consensus “Hold” rating with a $20.98 price target, while NTLA recently traded at $12.16. Company insiders also sold shares, including transactions partly related to tax withholding.

Bank of America Corp DE bought a new position in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 976,216 shares of the company's stock, valued at approximately $16,518,000. Bank of America Corp DE owned 0.70% of Intellia Therapeutics as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Freestone Grove Partners LP acquired a new stake in shares of Intellia Therapeutics during the 2nd quarter worth approximately $33,000. Fifth Third Bancorp acquired a new position in shares of Intellia Therapeutics in the 1st quarter valued at $38,000. PNC Financial Services Group Inc. lifted its stake in shares of Intellia Therapeutics by 36.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,552 shares of the company's stock valued at $46,000 after purchasing an additional 948 shares during the period. Hollencrest Capital Management purchased a new stake in Intellia Therapeutics during the first quarter worth $49,000. Finally, State of Wyoming acquired a new stake in Intellia Therapeutics during the second quarter valued at $51,000. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP J III sold 4,677 shares of the company's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $18.00, for a total transaction 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 $2,813,148. This represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Michael Dube sold 2,641 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $16.78, for a total transaction of $44,315.98. Following the completion of the sale, the chief accounting officer owned 66,886 shares of the company's stock, valued at $1,122,347.08. This trade represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 3.50% of the stock is owned by corporate insiders.

Intellia Therapeutics Trading Down 1.4%

NTLA stock opened at $12.16 on Friday. Intellia Therapeutics, Inc. has a 12-month low of $7.95 and a 12-month high of $28.25. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -3.62 and a beta of 1.82. The business's 50-day moving average is $11.96 and its 200 day moving average is $13.29.

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

Analyst Ratings Changes

A number of research firms have weighed in on NTLA. Citigroup reaffirmed a "market outperform" rating on shares of Intellia Therapeutics in a report on Tuesday, August 25th. New Street Research set a $25.00 target price on shares of Intellia Therapeutics in a research note on Monday, June 15th. Wall Street Zen cut Intellia Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 8th. HC Wainwright restated a "buy" rating and issued a $25.00 price target on shares of Intellia Therapeutics in a research note on Wednesday, September 9th. Finally, Citizens Jmp reaffirmed a "market outperform" rating and issued a $30.00 price target on shares of Intellia Therapeutics in a report on Wednesday, September 9th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $20.98.

About Intellia Therapeutics

Intellia Therapeutics, Inc is a biotechnology company focused on developing curative treatments using CRISPR-based gene-editing technology. The company's approach is designed to make targeted changes to disease-associated genes, including through in vivo therapies that edit genes directly inside the body.

Intellia's pipeline includes NTLA-2001, an investigational treatment designed to address transthyretin amyloidosis by editing the TTR gene, and NTLA-2002, an investigational therapy targeting hereditary angioedema through editing of the KLKB1 gene.

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