Congress Wealth Management LLC DE Purchases Shares of 20,000 Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Congress Wealth Management LLC DE acquired a new position in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 20,000 shares of the company’s stock, valued at approximately $233,000.

Other hedge funds have also modified their holdings of the company. Whipplewood Advisors LLC purchased a new stake in shares of Intellia Therapeutics during the fourth quarter valued at $40,000. Jones Financial Companies Lllp lifted its stake in Intellia Therapeutics by 140.9% during the fourth quarter. Jones Financial Companies Lllp now owns 3,898 shares of the company’s stock valued at $45,000 after buying an additional 2,280 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Intellia Therapeutics by 80.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 5,151 shares of the company’s stock worth $60,000 after buying an additional 2,299 shares during the period. KBC Group NV increased its position in shares of Intellia Therapeutics by 62.4% in the fourth quarter. KBC Group NV now owns 6,093 shares of the company’s stock worth $71,000 after acquiring an additional 2,340 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of Intellia Therapeutics during the third quarter valued at approximately $151,000. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Intellia Therapeutics Stock Performance

Shares of NASDAQ NTLA opened at $8.07 on Friday. The business’s 50-day simple moving average is $9.98 and its 200-day simple moving average is $13.77. Intellia Therapeutics, Inc. has a 52 week low of $8.03 and a 52 week high of $28.18. The firm has a market cap of $835.38 million, a price-to-earnings ratio of -1.48 and a beta of 1.97.

Insider Buying and Selling at Intellia Therapeutics

In related news, CEO John M. Leonard sold 26,807 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $12.18, for a total transaction of $326,509.26. Following the completion of the sale, the chief executive officer now directly owns 941,115 shares of the company’s stock, valued at approximately $11,462,780.70. This represents a 2.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 29,000 shares of company stock worth $352,551 over the last 90 days. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Truist Financial decreased their price objective on shares of Intellia Therapeutics from $90.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Wedbush reiterated a “neutral” rating and set a $10.00 price target (down previously from $14.00) on shares of Intellia Therapeutics in a report on Friday, January 10th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $13.00 price objective (down from $45.00) on shares of Intellia Therapeutics in a research note on Friday, February 28th. Barclays lowered their target price on Intellia Therapeutics from $55.00 to $26.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Finally, Wells Fargo & Company reduced their price target on shares of Intellia Therapeutics from $60.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.56.

Intellia Therapeutics 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.