Voloridge Investment Management LLC Acquires 1,059,751 Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Voloridge Investment Management LLC grew its stake in Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) by 226.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,526,994 shares of the company's stock after purchasing an additional 1,059,751 shares during the quarter. Voloridge Investment Management LLC owned about 1.50% of Intellia Therapeutics worth $17,805,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vestal Point Capital LP purchased a new stake in Intellia Therapeutics in the fourth quarter worth about $6,122,000. Squarepoint Ops LLC lifted its stake in shares of Intellia Therapeutics by 58.8% in the 4th quarter. Squarepoint Ops LLC now owns 101,417 shares of the company's stock valued at $1,183,000 after purchasing an additional 37,533 shares during the period. Two Sigma Advisers LP boosted its position in shares of Intellia Therapeutics by 94.5% during the fourth quarter. Two Sigma Advisers LP now owns 1,998,317 shares of the company's stock valued at $23,300,000 after purchasing an additional 970,700 shares in the last quarter. Two Sigma Investments LP grew its stake in Intellia Therapeutics by 88.1% in the fourth quarter. Two Sigma Investments LP now owns 1,843,743 shares of the company's stock worth $21,498,000 after purchasing an additional 863,363 shares during the period. Finally, Teza Capital Management LLC grew its stake in Intellia Therapeutics by 74.3% in the fourth quarter. Teza Capital Management LLC now owns 26,065 shares of the company's stock worth $304,000 after purchasing an additional 11,107 shares during the period. 88.77% of the stock is owned by hedge funds and other institutional investors.

Intellia Therapeutics Trading Up 3.1%

NTLA stock traded up $0.29 on Tuesday, hitting $9.45. The company had a trading volume of 1,776,141 shares, compared to its average volume of 3,401,508. Intellia Therapeutics, Inc. has a 12-month low of $5.90 and a 12-month high of $28.18. The stock has a market cap of $978.34 million, a price-to-earnings ratio of -1.74 and a beta of 2.33. The stock's 50-day simple moving average is $7.98 and its 200 day simple moving average is $10.45.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($1.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.26) by $0.16. The business had revenue of $16.63 million for the quarter, compared to the consensus estimate of $11.39 million. During the same quarter last year, the firm posted ($1.12) earnings per share. The business's quarterly revenue was down 42.6% compared to the same quarter last year. Research analysts forecast that Intellia Therapeutics, Inc. will post -5.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

NTLA has been the subject of several research reports. The Goldman Sachs Group reiterated a "sell" rating and issued a $9.00 price target on shares of Intellia Therapeutics in a research note on Friday, February 28th. Guggenheim lowered their target price on shares of Intellia Therapeutics from $55.00 to $45.00 and set a "buy" rating for the company in a report on Monday, May 12th. Truist Financial cut their price target on Intellia Therapeutics from $90.00 to $50.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Wedbush reaffirmed a "neutral" rating and set a $10.00 price objective on shares of Intellia Therapeutics in a research report on Monday, May 19th. Finally, Morgan Stanley downgraded Intellia Therapeutics from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $56.00 to $11.00 in a report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $36.90.

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.