Intellia Therapeutics, Inc. $NTLA Position Lessened by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. trimmed its position in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 88.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,046 shares of the company’s stock after selling 250,354 shares during the period. Polar Asset Management Partners Inc.’s holdings in Intellia Therapeutics were worth $228,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of NTLA. Voloridge Investment Management LLC raised its holdings in shares of Intellia Therapeutics by 226.8% during the fourth quarter. Voloridge Investment Management LLC now owns 1,526,994 shares of the company’s stock worth $17,805,000 after acquiring an additional 1,059,751 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Intellia Therapeutics by 94.5% during the fourth quarter. Two Sigma Advisers LP now owns 1,998,317 shares of the company’s stock valued at $23,300,000 after buying an additional 970,700 shares in the last quarter. Two Sigma Investments LP raised its holdings in Intellia Therapeutics by 88.1% during the fourth quarter. Two Sigma Investments LP now owns 1,843,743 shares of the company’s stock valued at $21,498,000 after buying an additional 863,363 shares in the last quarter. Vanguard Group Inc. raised its holdings in Intellia Therapeutics by 5.5% during the first quarter. Vanguard Group Inc. now owns 10,752,031 shares of the company’s stock valued at $76,447,000 after buying an additional 561,978 shares in the last quarter. Finally, Vestal Point Capital LP bought a new position in Intellia Therapeutics during the fourth quarter valued at about $6,122,000. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director William J. Chase purchased 100,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were purchased at an average cost of $10.03 per share, for a total transaction of $1,003,000.00. Following the completion of the purchase, the director directly owned 134,693 shares of the company’s stock, valued at approximately $1,350,970.79. The trade was a 288.24% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Edward J. Dulac III sold 7,462 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $14.02, for a total value of $104,617.24. Following the transaction, the executive vice president owned 106,062 shares in the company, valued at $1,486,989.24. This represents a 6.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,534 shares of company stock worth $153,837 over the last 90 days. Corporate insiders own 3.10% of the company’s stock.

Intellia Therapeutics Stock Performance

Intellia Therapeutics stock opened at $12.06 on Friday. The business’s 50-day simple moving average is $11.49 and its 200-day simple moving average is $9.60. The firm has a market capitalization of $1.29 billion, a PE ratio of -2.57 and a beta of 2.28. Intellia Therapeutics, Inc. has a 52 week low of $5.90 and a 52 week high of $23.76.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.99) EPS for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.04. The business had revenue of $14.25 million for the quarter, compared to analyst estimates of $12.26 million. Intellia Therapeutics had a negative return on equity of 57.48% and a negative net margin of 908.48%.The firm’s revenue for the quarter was up 104.3% on a year-over-year basis. During the same period in the previous year, the company posted ($1.52) earnings per share. Research analysts forecast that Intellia Therapeutics, Inc. will post -5.07 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Canaccord Genuity Group cut their target price on Intellia Therapeutics from $74.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, June 3rd. Royal Bank Of Canada cut their target price on Intellia Therapeutics from $25.00 to $21.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Guggenheim restated a “buy” rating and set a $14.00 target price on shares of Intellia Therapeutics in a report on Wednesday, August 13th. Wedbush restated a “neutral” rating and set a $7.00 target price on shares of Intellia Therapeutics in a report on Monday, June 16th. Finally, HC Wainwright cut their target price on Intellia Therapeutics from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, August 8th. Twelve research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.05.

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.