Intellia Therapeutics, Inc. $NTLA Stock Purchased by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group increased its Intellia Therapeutics stake by 24.4%, buying 708,094 shares to hold about 3.61 million shares, worth approximately $43.5 million. Institutional investors collectively own 88.77% of the company.
• Intellia reported a quarterly loss of $0.80 per share, in line with expectations, but revenue of $7.66 million fell short of forecasts and declined 46.4% year over year.
• Analyst views are mixed: the stock carries a consensus “Hold” rating and an average price target of $20.57, with ratings ranging from Sell to Strong Buy.

Sumitomo Mitsui Trust Group Inc. boosted its position in Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) by 24.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 3,605,623 shares of the company's stock after purchasing an additional 708,094 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 2.57% of Intellia Therapeutics worth $43,484,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of NTLA. Bank of America Corp DE raised its holdings in Intellia Therapeutics by 11.2% during the 1st quarter. Bank of America Corp DE now owns 1,381,703 shares of the company's stock valued at $17,713,000 after buying an additional 139,325 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Intellia Therapeutics by 1,082.1% during the first quarter. Royal Bank of Canada now owns 465,499 shares of the company's stock valued at $5,968,000 after buying an additional 426,121 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Intellia Therapeutics during the second quarter valued at $1,595,000. BlackRock Inc. bought a new stake in Intellia Therapeutics during the second quarter valued at about $260,721,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Intellia Therapeutics in the third quarter worth about $3,875,000. Hedge funds and other institutional investors own 88.77% of the company's stock.

Insider Buying and Selling at Intellia Therapeutics

In related news, CEO John M. Leonard sold 9,000 shares of the company's stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $11.99, for a total transaction of $107,910.00. Following the completion of the transaction, the chief executive officer owned 1,138,064 shares of the company's stock, valued at approximately $13,645,387.36. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.50% of the stock is currently owned by corporate insiders.

Intellia Therapeutics Trading Up 3.8%

Shares of NTLA opened at $12.31 on Thursday. The firm has a market capitalization of $1.72 billion, a P/E ratio of -3.66 and a beta of 1.83. Intellia Therapeutics, Inc. has a 12-month low of $7.95 and a 12-month high of $18.48. The firm has a 50-day moving average price of $12.17 and a 200 day moving average price of $13.06.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.80). The company had revenue of $7.66 million for 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%. Intellia Therapeutics's quarterly revenue was down 46.4% on a year-over-year basis. During the same period last year, the firm earned ($0.98) earnings per share. Equities research analysts predict that Intellia Therapeutics, Inc. will post -3.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NTLA. Wolfe Research downgraded shares of Intellia Therapeutics from a "peer perform" rating to an "underperform" rating and set a $9.00 target price on the stock. in a research note on Wednesday, July 15th. Weiss Ratings reissued a "sell (d-)" rating on shares of Intellia Therapeutics in a research report on Thursday, October 15th. Evercore upgraded Intellia Therapeutics from a "hold" rating to an "outperform" rating and set a $24.00 price objective for the company in a research note on Friday, August 7th. Wedbush raised their price objective on shares of Intellia Therapeutics from $12.00 to $13.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 9th. Finally, Citigroup restated a "market outperform" rating on shares of Intellia Therapeutics in a research report on Tuesday, August 25th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $20.57.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc is a biotechnology company focused on developing potentially curative treatments using CRISPR-based gene-editing technology. The company is working to create therapies that can modify disease-causing genes inside the body, with the goal of addressing the underlying causes of serious genetic diseases rather than treating only their symptoms.

Intellia's pipeline has included NTLA-2001, an investigational in vivo gene-editing therapy designed to reduce production of transthyretin for the treatment of transthyretin amyloidosis, and NTLA-2002, an investigational therapy intended to target hereditary angioedema.

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