AlphaQuest LLC Acquires 31,096 Shares of Intellia Therapeutics, Inc. $NTLA

Key Points

• AlphaQuest LLC significantly increased its holdings in Intellia Therapeutics by 149.9%, acquiring 31,096 additional shares, bringing its total ownership to 51,834 shares valued at $369,000.
• Several institutional investors, including Harbour Investments Inc. and HighTower Advisors LLC, also raised their stakes in Intellia, contributing to an overall institutional ownership of 88.77% of the company’s stocks.
• Analysts' ratings for Intellia vary, with a consensus rating of "Moderate Buy" and an average price target of $29.05, while recent price targets have been lowered by firms like Citigroup and Canaccord Genuity.

AlphaQuest LLC grew its holdings in Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) by 149.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,834 shares of the company's stock after buying an additional 31,096 shares during the period. AlphaQuest LLC owned 0.05% of Intellia Therapeutics worth $369,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. ARK Investment Management LLC lifted its position in shares of Intellia Therapeutics by 3.8% in the first quarter. ARK Investment Management LLC now owns 13,011,015 shares of the company's stock valued at $92,508,000 after buying an additional 474,629 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Intellia Therapeutics by 5.5% in the first quarter. Vanguard Group Inc. now owns 10,752,031 shares of the company's stock valued at $76,447,000 after buying an additional 561,978 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of Intellia Therapeutics by 94.5% in the fourth quarter. Two Sigma Advisers LP now owns 1,998,317 shares of the company's stock valued at $23,300,000 after buying an additional 970,700 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Intellia Therapeutics by 36.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,976,212 shares of the company's stock worth $23,042,000 after purchasing an additional 528,962 shares during the period. Finally, Two Sigma Investments LP increased its stake in shares of Intellia Therapeutics by 88.1% during the fourth quarter. Two Sigma Investments LP now owns 1,843,743 shares of the company's stock worth $21,498,000 after purchasing an additional 863,363 shares during the period. 88.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Intellia Therapeutics

In other Intellia Therapeutics news, Director William J. Chase purchased 100,000 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were bought at an average price of $10.03 per share, for a total transaction of $1,003,000.00. Following the purchase, the director owned 134,693 shares in the company, valued at approximately $1,350,970.79. This trade represents a 288.24% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Edward J. Dulac III sold 7,462 shares of Intellia Therapeutics stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $14.02, for a total value of $104,617.24. Following the completion of the transaction, 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 quarter, insiders sold 12,534 shares of company stock worth $153,837. Corporate insiders own 3.10% of the company's stock.

Intellia Therapeutics Price Performance

Intellia Therapeutics stock traded up $0.10 during mid-day trading on Tuesday, reaching $11.46. 1,500,408 shares of the company were exchanged, compared to its average volume of 4,069,769. The company has a fifty day simple moving average of $11.32 and a 200-day simple moving average of $9.58. Intellia Therapeutics, Inc. has a 12 month low of $5.90 and a 12 month high of $23.76. The firm has a market cap of $1.23 billion, a PE ratio of -2.46 and a beta of 2.28.

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 for the quarter, compared to analyst estimates of $12.26 million. During the same quarter last year, the company earned ($1.52) EPS. The company's revenue was up 104.3% on a year-over-year basis. Sell-side analysts anticipate that Intellia Therapeutics, Inc. will post -5.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NTLA. Wells Fargo & Company reiterated 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. HC Wainwright lowered their target price on Intellia Therapeutics from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Guggenheim reiterated a "buy" rating and set a $14.00 target price on shares of Intellia Therapeutics in a research note on Wednesday, August 13th. Royal Bank Of Canada lowered their target price on Intellia Therapeutics from $25.00 to $21.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Finally, Canaccord Genuity Group lowered their target price on Intellia Therapeutics from $74.00 to $54.00 and set a "buy" rating on the stock in a research note on Tuesday, June 3rd. Twelve analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $29.05.

About Intellia Therapeutics

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.