abrdn plc Takes Position in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

abrdn plc acquired a new stake in Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 154,269 shares of the company's stock, valued at approximately $4,704,000. abrdn plc owned 0.17% of Intellia Therapeutics at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of NTLA. ARK Investment Management LLC grew its holdings in shares of Intellia Therapeutics by 14.7% in the fourth quarter. ARK Investment Management LLC now owns 11,412,449 shares of the company's stock valued at $347,966,000 after purchasing an additional 1,463,820 shares during the period. Rhenman & Partners Asset Management AB boosted its stake in Intellia Therapeutics by 1,600.0% during the third quarter. Rhenman & Partners Asset Management AB now owns 850,000 shares of the company's stock worth $26,877,000 after buying an additional 800,000 shares during the period. Federated Hermes Inc. boosted its stake in Intellia Therapeutics by 13.8% during the fourth quarter. Federated Hermes Inc. now owns 2,016,300 shares of the company's stock worth $61,477,000 after buying an additional 244,722 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Intellia Therapeutics by 3.7% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,520,295 shares of the company's stock worth $111,312,000 after buying an additional 125,639 shares during the period. Finally, Capital Advisors Inc. OK boosted its stake in Intellia Therapeutics by 34.7% during the fourth quarter. Capital Advisors Inc. OK now owns 284,738 shares of the company's stock worth $8,682,000 after buying an additional 73,379 shares during the period. Hedge funds and other institutional investors own 88.77% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on NTLA. Canaccord Genuity Group increased their target price on shares of Intellia Therapeutics from $72.00 to $73.00 and gave the stock a "buy" rating in a research note on Friday, February 23rd. The Goldman Sachs Group lowered shares of Intellia Therapeutics from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $136.00 to $32.00 in a research note on Friday, February 23rd. Wolfe Research started coverage on shares of Intellia Therapeutics in a research note on Thursday, February 15th. They issued a "peer perform" rating for the company. Finally, Wedbush reissued a "neutral" rating and issued a $29.00 price objective on shares of Intellia Therapeutics in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $67.00.

Intellia Therapeutics Price Performance

Shares of NTLA traded up $0.74 during mid-day trading on Friday, reaching $20.76. 1,025,682 shares of the company's stock were exchanged, compared to its average volume of 1,154,036. The business's fifty day simple moving average is $26.51 and its 200-day simple moving average is $27.52. Intellia Therapeutics, Inc. has a 52-week low of $19.37 and a 52-week high of $47.48. The stock has a market capitalization of $2.00 billion, a PE ratio of -3.84 and a beta of 1.77.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last issued its earnings results on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, topping the consensus estimate of ($1.47) by $0.01. The company had revenue of ($1.92) million for the quarter, compared to analyst estimates of $15.10 million. Intellia Therapeutics had a negative net margin of 893.34% and a negative return on equity of 43.91%. During the same period in the previous year, the firm earned ($1.40) EPS. Equities research analysts predict that Intellia Therapeutics, Inc. will post -5.57 earnings per share for the current year.

Insiders Place Their Bets

In other Intellia Therapeutics news, EVP James Basta sold 2,297 shares of the business's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $32.99, for a total transaction of $75,778.03. Following the sale, the executive vice president now directly owns 81,571 shares in the company, valued at approximately $2,691,027.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.00% of the company's stock.

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.