Russell Investments Group Ltd. Reduces Stock Position in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Russell Investments Group Ltd. cut its stake in Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) by 40.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 117,415 shares of the company's stock after selling 81,095 shares during the period. Russell Investments Group Ltd. owned approximately 0.12% of Intellia Therapeutics worth $1,369,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Intellia Therapeutics by 125.2% in the fourth 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 during the period. Avanza Fonder AB bought a new stake in shares of Intellia Therapeutics in the 4th quarter worth approximately $421,000. Barclays PLC lifted its position in shares of Intellia Therapeutics by 17.7% in the 3rd quarter. Barclays PLC now owns 292,795 shares of the company's stock worth $6,017,000 after acquiring an additional 44,022 shares during the period. Geode Capital Management LLC grew its holdings in shares of Intellia Therapeutics by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,343,310 shares of the company's stock worth $48,164,000 after purchasing an additional 49,367 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Intellia Therapeutics by 10.3% during the third quarter. Franklin Resources Inc. now owns 16,405 shares of the company's stock valued at $320,000 after purchasing an additional 1,538 shares during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Intellia Therapeutics Price Performance

Shares of Intellia Therapeutics stock traded down $0.08 during trading on Friday, reaching $8.11. 483,155 shares of the company traded hands, compared to its average volume of 2,371,174. The firm has a market capitalization of $839.01 million, a PE ratio of -1.49 and a beta of 2.23. The company has a 50 day moving average price of $8.73 and a 200-day moving average price of $11.92. Intellia Therapeutics, Inc. has a 1-year low of $5.90 and a 1-year high of $28.18.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NTLA. Morgan Stanley cut shares of Intellia Therapeutics from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $56.00 to $11.00 in a research note on Monday, January 27th. StockNews.com raised Intellia Therapeutics to a "sell" rating in a report on Monday, March 3rd. Oppenheimer cut their target price on Intellia Therapeutics from $60.00 to $40.00 and set an "outperform" rating for the company in a research report on Monday, January 13th. HC Wainwright began coverage on Intellia Therapeutics in a research note on Wednesday, March 5th. They set a "buy" rating and a $30.00 price objective for the company. Finally, Citigroup boosted their target price on shares of Intellia Therapeutics from $12.00 to $14.00 and gave the company a "neutral" rating in a research note on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.