Sumitomo Mitsui Trust Group Inc. Reduces Stock Holdings in Intellia Therapeutics, Inc. $NTLA

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 5.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,671,265 shares of the company’s stock after selling 154,096 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Intellia Therapeutics were worth $25,056,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its stake in Intellia Therapeutics by 23.5% in the second quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 100,000 shares of the company’s stock worth $938,000 after acquiring an additional 19,000 shares during the period. D.A. Davidson & CO. lifted its position in Intellia Therapeutics by 108.0% during the second quarter. D.A. Davidson & CO. now owns 54,120 shares of the company’s stock valued at $508,000 after buying an additional 28,100 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Intellia Therapeutics during the second quarter valued at $166,000. Harbour Investments Inc. lifted its position in Intellia Therapeutics by 27.2% during the second quarter. Harbour Investments Inc. now owns 6,633 shares of the company’s stock valued at $62,000 after buying an additional 1,419 shares during the period. Finally, CWM LLC lifted its position in Intellia Therapeutics by 22.9% during the second quarter. CWM LLC now owns 18,331 shares of the company’s stock valued at $172,000 after buying an additional 3,419 shares during the period. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Insider Buying and Selling

In other news, CAO Michael P. Dube sold 1,871 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $17.38, for a total transaction of $32,517.98. Following the completion of the transaction, the chief accounting officer directly owned 55,266 shares in the company, valued at approximately $960,523.08. This represents a 3.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William J. Chase purchased 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were bought at an average price of $10.03 per share, for a total transaction of $1,003,000.00. Following the acquisition, the director directly owned 134,693 shares in the company, valued at $1,350,970.79. This trade represents a 288.24% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 3.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on NTLA shares. Citigroup reissued a “market outperform” rating on shares of Intellia Therapeutics in a research report on Tuesday. Tudor Pickering set a $14.50 price target on Intellia Therapeutics in a research report on Tuesday. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $14.00 price target (down previously from $21.00) on shares of Intellia Therapeutics in a research report on Tuesday. Barclays lowered their price target on Intellia Therapeutics from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, William Blair lowered Intellia Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday. Twelve investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Intellia Therapeutics currently has an average rating of “Hold” and a consensus target price of $24.95.

Intellia Therapeutics Trading Down 5.6%

Shares of NASDAQ:NTLA opened at $13.96 on Wednesday. Intellia Therapeutics, Inc. has a 12-month low of $5.90 and a 12-month high of $28.25. The company has a market cap of $1.50 billion, a PE ratio of -2.98 and a beta of 2.37. The stock has a 50 day moving average of $16.97 and a 200 day moving average of $12.23.

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

Intellia Therapeutics Company 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.