188,207 Shares in Intellia Therapeutics, Inc. $NTLA Bought by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC bought a new position in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 188,207 shares of the company’s stock, valued at approximately $3,184,000.

A number of other hedge funds also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Intellia Therapeutics in the second quarter valued at about $260,721,000. ARK Investment Management LLC increased its stake in shares of Intellia Therapeutics by 19.2% in the fourth quarter. ARK Investment Management LLC now owns 14,207,324 shares of the company’s stock worth $127,724,000 after purchasing an additional 2,288,146 shares during the period. Vanguard Group Inc. lifted its position in shares of Intellia Therapeutics by 17.8% during the 4th quarter. Vanguard Group Inc. now owns 13,010,001 shares of the company’s stock worth $116,960,000 after purchasing an additional 1,965,181 shares during the last quarter. State Street Corp lifted its position in shares of Intellia Therapeutics by 29.1% during the 4th quarter. State Street Corp now owns 6,418,836 shares of the company’s stock worth $57,705,000 after purchasing an additional 1,447,967 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Intellia Therapeutics by 4.1% during the 4th quarter. Geode Capital Management LLC now owns 2,696,187 shares of the company’s stock valued at $24,243,000 after purchasing an additional 107,333 shares during the period. 88.77% of the stock is currently owned by institutional investors.

Insider Activity at Intellia Therapeutics

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,641 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $16.78, for a total value of $44,315.98. Following the completion of the sale, the chief accounting officer owned 66,886 shares in the company, valued at approximately $1,122,347.08. This trade represents a 3.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Edward J. Dulac III sold 4,677 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $18.00, for a total value of $84,186.00. Following the completion of the sale, the executive vice president owned 156,286 shares of the company’s stock, valued at $2,813,148. This represents a 2.91% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 3.50% of the company’s stock.

Intellia Therapeutics Stock Performance

Shares of NTLA opened at $12.84 on Friday. The company has a 50-day simple moving average of $13.47 and a 200-day simple moving average of $13.35. Intellia Therapeutics, Inc. has a 52 week low of $7.95 and a 52 week high of $28.25. The firm has a market capitalization of $1.80 billion, a P/E ratio of -3.82 and a beta of 1.81.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.80). Intellia Therapeutics had a negative return on equity of 57.79% and a negative net margin of 672.16%.The business had revenue of $7.66 million for the quarter, compared to the consensus estimate of $12.98 million. During the same period last year, the business earned ($0.98) earnings per share. The firm’s revenue for the quarter was down 46.4% compared to the same quarter last year. As a group, equities analysts forecast that Intellia Therapeutics, Inc. will post -3.21 earnings per share for the current year.

Wall Street Analyst Weigh In

NTLA has been the topic of a number of research analyst reports. Wedbush raised their target price on Intellia Therapeutics from $12.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, July 10th. Wall Street Zen lowered Intellia Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Chardan Capital upped their price target on Intellia Therapeutics from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, April 27th. HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of Intellia Therapeutics in a research report on Monday, June 15th. Finally, Sanford C. Bernstein raised their price objective on shares of Intellia Therapeutics from $13.00 to $17.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $21.15.

About Intellia Therapeutics

Intellia Therapeutics, Inc (NASDAQ: NTLA) is a clinical‐stage biotechnology company focused on developing potentially curative genome editing therapies using the CRISPR/Cas9 platform. The company’s research spans both in vivo and ex vivo applications of CRISPR/Cas9, aiming to correct or disable disease‐causing genes with a single administration. Intellia’s lead in vivo program targets transthyretin amyloidosis (ATTR) by delivering CRISPR/Cas9 machinery directly to the liver, while additional preclinical efforts pursue treatments for hemophilia A, hereditary angioedema and other genetic disorders.

Beyond its in vivo pipeline, Intellia collaborates with strategic partners to extend the impact of its genome editing approach.