Russell Investments Group Ltd. Cuts Stake in Intellia Therapeutics, Inc. $NTLA

Key Points

• Russell Investments Group Ltd. has significantly reduced its holdings in Intellia Therapeutics by 92.9%, now owning just 8,351 shares after selling over 109,000 shares in the first quarter.
• Several other institutional investors have also adjusted their positions, with 88.77% of Intellia's stock owned by institutional investors and hedge funds.
• Analysts have mixed ratings for Intellia Therapeutics, with target prices ranging from $10.00 to $60.00, and a consensus of a "Moderate Buy" with an average target price of $29.05.

Russell Investments Group Ltd. lowered its holdings in Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) by 92.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,351 shares of the company's stock after selling 109,064 shares during the period. Russell Investments Group Ltd.'s holdings in Intellia Therapeutics were worth $59,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Ensign Peak Advisors Inc raised its position in shares of Intellia Therapeutics by 2.9% in the fourth quarter. Ensign Peak Advisors Inc now owns 39,169 shares of the company's stock valued at $457,000 after purchasing an additional 1,100 shares during the period. HighTower Advisors LLC raised its position in shares of Intellia Therapeutics by 8.2% in the first quarter. HighTower Advisors LLC now owns 16,921 shares of the company's stock valued at $120,000 after purchasing an additional 1,282 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Intellia Therapeutics by 28.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,148 shares of the company's stock valued at $95,000 after purchasing an additional 1,808 shares during the period. GF Fund Management CO. LTD. bought a new stake in shares of Intellia Therapeutics in the fourth quarter valued at approximately $25,000. Finally, Harbour Investments Inc. raised its position in shares of Intellia Therapeutics by 76.7% in the first quarter. Harbour Investments Inc. now owns 5,214 shares of the company's stock valued at $37,000 after purchasing an additional 2,264 shares during the period. Institutional investors own 88.77% of the company's stock.

Intellia Therapeutics Price Performance

NTLA stock traded up $0.44 during midday trading on Friday, reaching $12.06. The company had a trading volume of 5,156,129 shares, compared to its average volume of 4,042,527. Intellia Therapeutics, Inc. has a 1 year low of $5.90 and a 1 year high of $23.76. The company has a market capitalization of $1.29 billion, a P/E ratio of -2.57 and a beta of 2.28. The firm has a 50-day moving average price of $11.49 and a 200-day moving average price of $9.58.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last released its quarterly earnings results 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 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 analysts' expectations of $12.26 million. During the same quarter in the previous year, the company earned ($1.52) EPS. The business's quarterly revenue was up 104.3% compared to the same quarter last year. On average, equities analysts predict that Intellia Therapeutics, Inc. will post -5.07 EPS for the current year.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

NTLA has been the topic of several research reports. Wall Street Zen raised shares of Intellia Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday. Guggenheim reaffirmed a "buy" rating and set a $14.00 price objective on shares of Intellia Therapeutics in a research note on Wednesday, August 13th. Royal Bank Of Canada reduced their price objective on shares of Intellia Therapeutics from $25.00 to $21.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Wedbush reaffirmed a "neutral" rating and set a $7.00 price objective on shares of Intellia Therapeutics in a research note on Monday, June 16th. Finally, Chardan Capital reduced their price objective on shares of Intellia Therapeutics from $68.00 to $60.00 and set a "buy" rating for the company in a research note on Monday, August 11th. Twelve research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $29.05.

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.