Renaissance Technologies LLC Purchases New Position in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Renaissance Technologies LLC acquired a new position in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 98,700 shares of the company's stock, valued at approximately $1,151,000. Renaissance Technologies LLC owned approximately 0.10% of Intellia Therapeutics at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NTLA. FIL Ltd lifted its holdings in shares of Intellia Therapeutics by 737.6% in the 4th quarter. FIL Ltd now owns 159,671 shares of the company's stock valued at $1,862,000 after acquiring an additional 140,608 shares during the last quarter. Legal & General Group Plc raised its position in Intellia Therapeutics by 10.6% during the fourth quarter. Legal & General Group Plc now owns 106,767 shares of the company's stock valued at $1,245,000 after purchasing an additional 10,211 shares during the period. Invesco Ltd. lifted its stake in shares of Intellia Therapeutics by 4.0% in the 4th quarter. Invesco Ltd. now owns 96,434 shares of the company's stock valued at $1,124,000 after purchasing an additional 3,677 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Intellia Therapeutics in the 4th quarter worth approximately $415,000. Finally, Aristides Capital LLC bought a new position in shares of Intellia Therapeutics during the 4th quarter valued at approximately $182,000. 88.77% of the stock is owned by hedge funds and other institutional investors.

Intellia Therapeutics Stock Down 3.3 %

NTLA opened at $8.20 on Wednesday. The firm's 50-day moving average price is $8.51 and its 200-day moving average price is $11.68. The company has a market cap of $848.84 million, a P/E ratio of -1.51 and a beta of 2.23. Intellia Therapeutics, Inc. has a 52-week low of $5.90 and a 52-week high of $28.18.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NTLA shares. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $13.00 target price (down previously from $45.00) on shares of Intellia Therapeutics in a research note on Friday, February 28th. Morgan Stanley lowered shares of Intellia Therapeutics from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $56.00 to $11.00 in a research report on Monday, January 27th. Citigroup boosted their target price on Intellia Therapeutics from $12.00 to $14.00 and gave the company a "neutral" rating in a research report on Friday, February 28th. BMO Capital Markets reduced their price target on Intellia Therapeutics from $70.00 to $50.00 and set an "outperform" rating on the stock in a report on Friday, January 10th. Finally, The Goldman Sachs Group reaffirmed a "sell" rating and issued a $9.00 price objective on shares of Intellia Therapeutics in a research report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $36.68.

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.

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