IQ EQ FUND MANAGEMENT IRELAND Ltd Increases Stock Position in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd has increased its position in Intellia Therapeutics, Inc. by 94.3%, now owning 106,209 shares valued at approximately $755,000.
• Intellia Therapeutics stock saw a 5.5% increase, with its current share price at $12.12, and it has a market cap of $1.26 billion.
• Analysts have mixed ratings for Intellia Therapeutics, with one firm setting a target price as high as $68.00, while others maintain lower expectations, reflecting a consensus rating of "Moderate Buy."

IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) by 94.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 106,209 shares of the company's stock after purchasing an additional 51,552 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd owned about 0.10% of Intellia Therapeutics worth $755,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in NTLA. Cambridge Investment Research Advisors Inc. increased its position in Intellia Therapeutics by 51.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,726 shares of the company's stock valued at $140,000 after buying an additional 6,722 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in Intellia Therapeutics by 76.2% in the first quarter. D.A. Davidson & CO. now owns 26,020 shares of the company's stock valued at $185,000 after purchasing an additional 11,250 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Intellia Therapeutics by 4.1% during the 4th quarter. California State Teachers Retirement System now owns 90,638 shares of the company's stock valued at $1,057,000 after buying an additional 3,596 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Intellia Therapeutics in the 4th quarter valued at about $4,793,000. Finally, Baker BROS. Advisors LP acquired a new stake in Intellia Therapeutics during the fourth quarter worth about $7,510,000. 88.77% of the stock is owned by institutional investors and hedge funds.

Intellia Therapeutics Stock Up 0.8%

NTLA stock traded up $0.09 during midday trading on Thursday, hitting $11.46. The company's stock had a trading volume of 5,826,679 shares, compared to its average volume of 4,550,223. The firm has a 50-day simple moving average of $10.47 and a 200-day simple moving average of $9.50. The firm has a market capitalization of $1.19 billion, a P/E ratio of -2.19 and a beta of 2.31. Intellia Therapeutics, Inc. has a 52-week low of $5.90 and a 52-week high of $24.16.

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

Insider Buying and Selling

In related news, EVP Edward J. Dulac III sold 7,462 shares of the 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 transaction, the executive vice president directly 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 12,534 shares of company stock valued at $153,837 in the last 90 days. Corporate insiders own 3.10% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on NTLA. Wolfe Research raised shares of Intellia Therapeutics from a "peer perform" rating to an "outperform" rating and set a $21.00 target price for the company in a report on Monday, April 21st. Wedbush restated a "neutral" rating and set a $7.00 price objective on shares of Intellia Therapeutics in a research report on Monday, June 16th. HC Wainwright reiterated a "buy" rating and issued a $30.00 price objective on shares of Intellia Therapeutics in a 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. Finally, Citigroup reduced their price objective on Intellia Therapeutics from $14.00 to $10.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Intellia Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target 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.