Hudson Bay Capital Management LP Increases Stock Position in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Hudson Bay Capital Management LP raised its stake in Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) by 52.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 512,300 shares of the company's stock after buying an additional 177,300 shares during the period. Hudson Bay Capital Management LP owned 0.50% of Intellia Therapeutics worth $5,973,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Sterling Capital Management LLC lifted its holdings in shares of Intellia Therapeutics by 866.2% during the fourth quarter. Sterling Capital Management LLC now owns 3,198 shares of the company's stock worth $37,000 after purchasing an additional 2,867 shares during the period. Whipplewood Advisors LLC acquired a new position in shares of Intellia Therapeutics during the fourth quarter worth $40,000. Resona Asset Management Co. Ltd. acquired a new position in shares of Intellia Therapeutics during the fourth quarter worth $43,000. Jones Financial Companies Lllp lifted its holdings in shares of Intellia Therapeutics by 140.9% during the fourth quarter. Jones Financial Companies Lllp now owns 3,898 shares of the company's stock worth $45,000 after purchasing an additional 2,280 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Intellia Therapeutics by 80.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 5,151 shares of the company's stock worth $60,000 after purchasing an additional 2,299 shares during the period. Institutional investors and hedge funds own 88.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Barclays cut their price target on shares of Intellia Therapeutics from $55.00 to $26.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. 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 research note on Monday, April 21st. StockNews.com raised shares of Intellia Therapeutics to a "sell" rating in a research note on Monday, March 3rd. Wells Fargo & Company lowered their target price on shares of Intellia Therapeutics from $60.00 to $50.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Finally, 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 research note on Friday, May 9th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $36.90.

Intellia Therapeutics Stock Up 2.4%

Shares of Intellia Therapeutics stock traded up $0.19 during trading on Thursday, reaching $8.07. The company's stock had a trading volume of 1,914,320 shares, compared to its average volume of 2,499,644. Intellia Therapeutics, Inc. has a 52-week low of $5.90 and a 52-week high of $28.18. The company has a market cap of $835.91 million, a price-to-earnings ratio of -1.48 and a beta of 2.33. The firm's 50-day moving average is $8.00 and its two-hundred day moving average is $10.82.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $16.63 million during the quarter, compared to analysts' expectations of $11.39 million. Intellia Therapeutics's revenue for the quarter was down 42.6% on a year-over-year basis. During the same period last year, the company posted ($1.12) EPS. On average, equities research analysts anticipate that Intellia Therapeutics, Inc. will post -5.07 EPS for the current 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.