Patient Square Capital LP Increases Position in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Patient Square Capital LP increased its stake in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) by 68.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 215,981 shares of the company's stock after buying an additional 87,412 shares during the period. Intellia Therapeutics comprises 0.9% of Patient Square Capital LP's portfolio, making the stock its 17th largest holding. Patient Square Capital LP owned 0.21% of Intellia Therapeutics worth $2,518,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. ARK Investment Management LLC grew its stake in Intellia Therapeutics by 2.3% in the 4th quarter. ARK Investment Management LLC now owns 12,536,386 shares of the company's stock valued at $146,174,000 after acquiring an additional 280,946 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Intellia Therapeutics by 5.8% in the fourth quarter. Vanguard Group Inc. now owns 10,190,053 shares of the company's stock valued at $118,816,000 after purchasing an additional 562,249 shares during the last quarter. Regeneron Pharmaceuticals Inc. purchased a new position in shares of Intellia Therapeutics during the 4th quarter worth approximately $43,177,000. Geode Capital Management LLC raised its position in shares of Intellia Therapeutics by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 2,389,240 shares of the company's stock worth $27,865,000 after purchasing an additional 45,930 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Intellia Therapeutics by 36.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,976,212 shares of the company's stock worth $23,042,000 after purchasing an additional 528,962 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Intellia Therapeutics Trading Down 2.7%

Shares of NTLA opened at $8.32 on Wednesday. Intellia Therapeutics, Inc. has a 52 week low of $5.90 and a 52 week high of $28.18. The firm has a market cap of $861.81 million, a price-to-earnings ratio of -1.53 and a beta of 2.33. The stock has a 50 day moving average of $8.11 and a 200-day moving average of $10.91.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($1.10) EPS for the quarter, topping analysts' consensus estimates of ($1.26) by $0.16. The business had revenue of $16.63 million during the quarter, compared to analyst estimates of $11.39 million. The business's revenue for the quarter was down 42.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.12) EPS. On average, sell-side analysts predict that Intellia Therapeutics, Inc. will post -5.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NTLA shares. Morgan Stanley downgraded Intellia Therapeutics from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $56.00 to $11.00 in a research report on Monday, January 27th. Citigroup decreased their price target on shares of Intellia Therapeutics from $14.00 to $10.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. HC Wainwright started coverage on shares of Intellia Therapeutics in a research report on Wednesday, March 5th. They set a "buy" rating and a $30.00 target price for the company. The Goldman Sachs Group restated a "sell" rating and set a $9.00 price objective on shares of Intellia Therapeutics in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and issued a $13.00 target price (down from $45.00) on shares of Intellia Therapeutics in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $36.90.

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.

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