Intellia Therapeutics, Inc. $NTLA Position Trimmed by Second Line Capital LLC

Key Points

• Second Line Capital LLC has lowered its position in Intellia Therapeutics by 39.2%, selling 51,423 shares during the first quarter and now owning a total of 79,699 shares.
• Intellia Therapeutics reported a quarterly revenue of $14.25 million, exceeding analysts' expectations and reflecting a 104.3% increase compared to the same quarter last year.
• Insider trading activity includes Director William J. Chase purchasing 100,000 shares at an average price of $10.03, significantly increasing his position by 288.24%.

Second Line Capital LLC reduced its stake in Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) by 39.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 79,699 shares of the company's stock after selling 51,423 shares during the quarter. Second Line Capital LLC owned 0.08% of Intellia Therapeutics worth $567,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in NTLA. GF Fund Management CO. LTD. purchased a new stake in shares of Intellia Therapeutics in the 4th quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Intellia Therapeutics by 56.4% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,590 shares of the company's stock valued at $33,000 after buying an additional 1,655 shares in the last quarter. Harbour Investments Inc. boosted its holdings in shares of Intellia Therapeutics by 76.7% in the 1st quarter. Harbour Investments Inc. now owns 5,214 shares of the company's stock valued at $37,000 after buying an additional 2,264 shares in the last quarter. Quantbot Technologies LP boosted its holdings in shares of Intellia Therapeutics by 846.4% in the 1st quarter. Quantbot Technologies LP now owns 6,663 shares of the company's stock valued at $47,000 after buying an additional 5,959 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Intellia Therapeutics by 1,961.2% in the 1st quarter. GAMMA Investing LLC now owns 7,544 shares of the company's stock valued at $540,000 after buying an additional 7,178 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NTLA. Citigroup lowered their target price on shares of Intellia Therapeutics from $14.00 to $10.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Wells Fargo & Company restated an "overweight" rating and issued a $45.00 target price (down previously from $50.00) on shares of Intellia Therapeutics in a report on Friday, August 8th. Chardan Capital lowered their target price on shares of Intellia Therapeutics from $68.00 to $60.00 and set a "buy" rating for the company in a report on Monday, August 11th. Wedbush reiterated a "neutral" rating and set a $7.00 price target on shares of Intellia Therapeutics in a research note on Monday, June 16th. Finally, HC Wainwright decreased their price target on shares of Intellia Therapeutics from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Twelve equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $29.05.

Insider Activity at Intellia Therapeutics

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

Intellia Therapeutics Stock Performance

NASDAQ:NTLA traded up $0.05 during mid-day trading on Tuesday, hitting $11.40. 3,457,498 shares of the company's stock traded hands, compared to its average volume of 4,145,561. The firm's 50 day simple moving average is $11.36 and its 200 day simple moving average is $9.60. Intellia Therapeutics, Inc. has a 1 year low of $5.90 and a 1 year high of $23.76.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last issued 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 the consensus estimate of $12.26 million. During the same period in the previous year, the firm posted ($1.52) earnings per share. The company's quarterly revenue was up 104.3% compared to the same quarter last year. As a group, research analysts expect that Intellia Therapeutics, Inc. will post -5.07 earnings per share for the current fiscal year.

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.