Intellia Therapeutics, Inc. (NASDAQ:NTLA) Shares Sold by Nikko Asset Management Americas Inc.

Key Points

• Nikko Asset Management Americas Inc. reduced its stake in Intellia Therapeutics by 5.6% during the 1st quarter, owning 2,825,361 shares valued at approximately $20 million at the end of the reporting period.
• Analysts have set a range of price targets for Intellia Therapeutics, with Citigroup lowering its target from $14 to $10, while HC Wainwright maintains a bullish $30 target.
• Insider trading activities revealed EVP Edward J. Dulac III sold 7,462 shares at an average price of $14.02, indicating a 6.57% decrease in his ownership of the stock.

Nikko Asset Management Americas Inc. decreased its holdings in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) by 5.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,825,361 shares of the company's stock after selling 167,302 shares during the period. Nikko Asset Management Americas Inc. owned about 2.73% of Intellia Therapeutics worth $20,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Buying and Selling

In other Intellia Therapeutics news, EVP Edward J. Dulac III sold 7,462 shares of the company's stock in a transaction dated 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 owned 106,062 shares of the company's stock, valued at $1,486,989.24. This represents a 6.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 12,534 shares of company stock valued at $153,837 over the last 90 days. Corporate insiders own 3.10% of the company's stock.

Intellia Therapeutics Trading Up 2.0%

NASDAQ NTLA traded up $0.25 during trading hours on Wednesday, reaching $12.75. The company had a trading volume of 1,757,043 shares, compared to its average volume of 4,009,641. The stock has a 50-day moving average of $10.10 and a 200 day moving average of $9.40. Intellia Therapeutics, Inc. has a 1-year low of $5.90 and a 1-year high of $27.27. The stock has a market capitalization of $1.32 billion, a P/E ratio of -2.44 and a beta of 2.21.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Canaccord Genuity Group lowered their price target 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. Guggenheim lowered their target price on shares of Intellia Therapeutics from $55.00 to $45.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Wedbush reiterated a "neutral" rating and issued a $7.00 target price on shares of Intellia Therapeutics in a research report on Monday, June 16th. Wolfe Research raised shares of Intellia Therapeutics from a "peer perform" rating to an "outperform" rating and set a $21.00 price target on the stock in a research note on Monday, April 21st. Finally, Citigroup dropped their price objective on shares of 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 analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $33.37.

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.