Polar Asset Management Partners Inc. Boosts Stock Holdings in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Polar Asset Management Partners Inc. boosted its stake in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) by 1,144.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 282,400 shares of the company's stock after purchasing an additional 259,700 shares during the period. Polar Asset Management Partners Inc. owned approximately 0.28% of Intellia Therapeutics worth $3,293,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NTLA. Hennion & Walsh Asset Management Inc. lifted its stake in Intellia Therapeutics by 125.2% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 120,997 shares of the company's stock valued at $1,411,000 after buying an additional 67,276 shares in the last quarter. Avanza Fonder AB acquired a new stake in Intellia Therapeutics in the 4th quarter valued at approximately $421,000. Barclays PLC boosted its position in Intellia Therapeutics by 17.7% in the 3rd quarter. Barclays PLC now owns 292,795 shares of the company's stock valued at $6,017,000 after buying an additional 44,022 shares during the period. ARK Investment Management LLC lifted its position in shares of Intellia Therapeutics by 2.3% during the 4th quarter. ARK Investment Management LLC now owns 12,536,386 shares of the company's stock worth $146,174,000 after purchasing an additional 280,946 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Intellia Therapeutics by 85.7% during the 4th quarter. SG Americas Securities LLC now owns 44,838 shares of the company's stock worth $523,000 after purchasing an additional 20,694 shares during the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Chardan Capital reissued a "buy" rating and issued a $68.00 price target on shares of Intellia Therapeutics in a research report on Friday, May 9th. Barclays reduced their price target on shares of Intellia Therapeutics from $55.00 to $26.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. The Goldman Sachs Group reissued a "sell" rating and issued a $9.00 price target on shares of Intellia Therapeutics in a research report on Friday, February 28th. Morgan Stanley cut shares of 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 research report on Monday, January 27th. Finally, Wolfe Research raised shares of Intellia Therapeutics from a "peer perform" rating to an "outperform" rating and set a $21.00 price target for the company in a research report on Monday, April 21st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $36.90.

Intellia Therapeutics Stock Down 2.6%

NASDAQ NTLA traded down $0.26 during trading hours on Wednesday, hitting $9.42. 1,547,264 shares of the stock were exchanged, compared to its average volume of 2,536,752. The company has a market cap of $975.23 million, a price-to-earnings ratio of -1.73 and a beta of 2.33. Intellia Therapeutics, Inc. has a 12-month low of $5.90 and a 12-month high of $28.18. The stock has a 50-day moving average of $7.98 and a 200 day moving average of $10.68.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($1.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.26) by $0.16. The firm had revenue of $16.63 million for the quarter, compared to analysts' expectations of $11.39 million. The company's revenue for the quarter was down 42.6% on a year-over-year basis. During the same period in the prior year, the company earned ($1.12) earnings per share. On average, equities research analysts expect that Intellia Therapeutics, Inc. will post -5.07 earnings per share for the current year.

About Intellia Therapeutics

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.