Sumitomo Mitsui Trust Group Inc. Sells 219,400 Shares of Intellia Therapeutics, Inc. $NTLA

Sumitomo Mitsui Trust Group Inc. trimmed its position in Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 10.0% during the 1st quarter, HoldingsChannel reports. The firm owned 1,973,061 shares of the company’s stock after selling 219,400 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Intellia Therapeutics were worth $25,295,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Farallon Capital Management LLC purchased a new position in shares of Intellia Therapeutics in the third quarter worth approximately $10,486,000. Wesbanco Bank Inc. purchased a new position in shares of Intellia Therapeutics during the 4th quarter worth $575,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Intellia Therapeutics during the 1st quarter valued at $1,809,000. Canal Insurance CO purchased a new stake in shares of Intellia Therapeutics in the 4th quarter worth $899,000. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of Intellia Therapeutics in the 4th quarter worth $318,000. 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 2,641 shares of Intellia Therapeutics stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $16.78, for a total transaction of $44,315.98. Following the sale, the chief accounting officer owned 66,886 shares in the company, valued at $1,122,347.08. This trade represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 Intellia Therapeutics stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $18.00, for a total transaction of $84,186.00. Following the sale, the executive vice president owned 156,286 shares in the company, valued at approximately $2,813,148. The trade was a 2.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 3.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Morgan Stanley lifted their target price on Intellia Therapeutics from $11.00 to $15.00 and gave the company an “equal weight” rating in a research report on Monday, April 27th. HC Wainwright restated a “buy” rating and issued a $25.00 price target on shares of Intellia Therapeutics in a research report on Monday, June 15th. Truist Financial raised Intellia Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. New Street Research set a $25.00 price objective on Intellia Therapeutics in a research note on Monday, June 15th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $49.00 target price on shares of Intellia Therapeutics in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Intellia Therapeutics currently has an average rating of “Hold” and an average price target of $20.67.

Intellia Therapeutics Stock Down 8.4%

NASDAQ NTLA opened at $13.02 on Tuesday. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -3.68 and a beta of 1.77. The business has a 50-day moving average price of $14.40 and a 200-day moving average price of $13.35. Intellia Therapeutics, Inc. has a twelve month low of $7.95 and a twelve month high of $28.25.

Intellia Therapeutics (NASDAQ:NTLA) last issued its earnings results on Monday, May 11th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.11. Intellia Therapeutics had a negative return on equity of 57.47% and a negative net margin of 597.04%.The company had revenue of $15.05 million for the quarter, compared to the consensus estimate of $13.81 million. During the same quarter last year, the company earned ($1.10) EPS. Research analysts expect that Intellia Therapeutics, Inc. will post -3.18 EPS for the current fiscal year.

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.