Polar Asset Management Partners Inc. Sells 250,354 Shares of Intellia Therapeutics, Inc. $NTLA

Key Points

• Polar Asset Management Partners Inc. significantly cut its stake in Intellia Therapeutics by 88.7%, leaving it with only 32,046 shares worth $228,000 after selling 250,354 shares in Q1.
• Intellia Therapeutics reported a 104.3% year-over-year increase in revenue for the latest quarter, generating $14.25 million, surpassing expectations.
• Insider trading activity saw Director William J. Chase acquire 100,000 shares at an average price of $10.03, increasing his ownership by 288.24%, while EVP Edward J. Dulac III sold 7,462 shares.

Polar Asset Management Partners Inc. cut its stake in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) by 88.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,046 shares of the company's stock after selling 250,354 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Intellia Therapeutics were worth $228,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of NTLA. GF Fund Management CO. LTD. bought a new position in Intellia Therapeutics during the fourth quarter worth $25,000. Northwestern Mutual Wealth Management Co. boosted its stake in Intellia Therapeutics by 56.4% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,590 shares of the company's stock worth $33,000 after acquiring an additional 1,655 shares in the last quarter. Harbour Investments Inc. boosted its stake in Intellia Therapeutics by 76.7% during the first quarter. Harbour Investments Inc. now owns 5,214 shares of the company's stock worth $37,000 after acquiring an additional 2,264 shares in the last quarter. Quantbot Technologies LP boosted its stake in Intellia Therapeutics by 846.4% during the first quarter. Quantbot Technologies LP now owns 6,663 shares of the company's stock worth $47,000 after acquiring an additional 5,959 shares in the last quarter. Finally, 49 Wealth Management LLC bought a new position in Intellia Therapeutics during the first quarter worth $74,000. 88.77% of the stock is owned by institutional investors.

Insider Transactions at Intellia Therapeutics

In related news, Director William J. Chase acquired 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was acquired at an average price of $10.03 per share, for a total transaction of $1,003,000.00. Following the completion of the acquisition, the director owned 134,693 shares of the company's stock, valued at approximately $1,350,970.79. This represents a 288.24% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Edward J. Dulac III sold 7,462 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $14.02, for a total transaction of $104,617.24. Following the sale, the executive vice president owned 106,062 shares of the company's stock, valued at $1,486,989.24. This trade represents a 6.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,534 shares of company stock valued at $153,837 in the last 90 days. 3.10% of the stock is currently owned by corporate insiders.

Intellia Therapeutics Trading Up 0.6%

Shares of NTLA traded up $0.07 during trading hours on Friday, reaching $11.49. 1,676,952 shares of the stock traded hands, compared to its average volume of 4,092,374. The stock has a fifty day simple moving average of $11.61 and a 200 day simple moving average of $9.61. Intellia Therapeutics, Inc. has a 52 week low of $5.90 and a 52 week high of $23.76. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -2.45 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) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.03) by $0.04. Intellia Therapeutics had a negative net margin of 908.48% and a negative return on equity of 57.48%. The business had revenue of $14.25 million during the quarter, compared to the consensus estimate of $12.26 million. During the same quarter last year, the company posted ($1.52) earnings per share. The firm's quarterly revenue was up 104.3% compared to the same quarter last year. Analysts predict that Intellia Therapeutics, Inc. will post -5.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NTLA shares. Chardan Capital dropped their price objective on shares of Intellia Therapeutics from $68.00 to $60.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Wall Street Zen raised shares of Intellia Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. Wedbush reaffirmed a "neutral" rating and issued a $7.00 price objective on shares of Intellia Therapeutics in a research note on Monday, June 16th. Guggenheim reaffirmed a "buy" rating and issued a $14.00 price objective on shares of Intellia Therapeutics in a research note on Wednesday, August 13th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $45.00 price objective (down from $50.00) on shares of Intellia Therapeutics in a research note on Friday, August 8th. Eleven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $27.11.

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.