Intellia Therapeutics, Inc. $NTLA Stock Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its holdings in Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 24.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,605,623 shares of the company’s stock after buying an additional 708,094 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Intellia Therapeutics were worth $43,484,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Intellia Therapeutics during the 3rd quarter worth about $86,000. Grandfield & Dodd LLC raised its holdings in Intellia Therapeutics by 5.3% during the 3rd quarter. Grandfield & Dodd LLC now owns 52,310 shares of the company’s stock worth $631,000 after purchasing an additional 2,630 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Intellia Therapeutics by 15.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 25,568 shares of the company’s stock worth $308,000 after buying an additional 3,331 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in Intellia Therapeutics by 12.9% during the third quarter. D.A. Davidson & CO. now owns 107,840 shares of the company’s stock worth $1,301,000 after acquiring an additional 12,300 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its holdings in Intellia Therapeutics by 2.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 109,862 shares of the company’s stock worth $1,325,000 after buying an additional 2,409 shares during the period. Institutional investors own 88.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NTLA shares. Wolfe Research cut shares of Intellia Therapeutics from a “peer perform” rating to an “underperform” rating and set a $9.00 price target for the company. in a research report on Wednesday, July 15th. Wedbush boosted their target price on shares of Intellia Therapeutics from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, September 9th. Wall Street Zen cut Intellia Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Citigroup reissued a “market outperform” rating on shares of Intellia Therapeutics in a report on Tuesday, August 25th. Finally, HC Wainwright reissued a “buy” rating and set a $25.00 price target on shares of Intellia Therapeutics in a research note on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, Intellia Therapeutics has a consensus rating of “Hold” and a consensus target price of $20.57.

Intellia Therapeutics Trading Up 3.8%

NASDAQ NTLA opened at $12.31 on Thursday. The stock has a market cap of $1.72 billion, a PE ratio of -3.66 and a beta of 1.83. Intellia Therapeutics, Inc. has a twelve month low of $7.95 and a twelve month high of $18.48. The stock has a fifty day simple moving average of $12.17 and a 200-day simple moving average of $13.06.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.80) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.80). The business had revenue of $7.66 million for the quarter, compared to analyst estimates of $12.98 million. Intellia Therapeutics had a negative net margin of 672.16% and a negative return on equity of 57.79%. The company’s revenue was down 46.4% on a year-over-year basis. During the same period last year, the business earned ($0.98) EPS. Research analysts predict that Intellia Therapeutics, Inc. will post -3.21 EPS for the current year.

Insider Activity at Intellia Therapeutics

In other news, CEO John M. Leonard sold 9,000 shares of the stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $11.99, for a total value of $107,910.00. Following the completion of the sale, the chief executive officer owned 1,138,064 shares of the company’s stock, valued at $13,645,387.36. This represents a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.50% of the stock is currently owned by insiders.

About Intellia Therapeutics

Intellia Therapeutics, Inc is a biotechnology company focused on developing potentially curative treatments using CRISPR-based gene-editing technology. The company is working to create therapies that can modify disease-causing genes inside the body, with the goal of addressing the underlying causes of serious genetic diseases rather than treating only their symptoms.

Intellia’s pipeline has included NTLA-2001, an investigational in vivo gene-editing therapy designed to reduce production of transthyretin for the treatment of transthyretin amyloidosis, and NTLA-2002, an investigational therapy intended to target hereditary angioedema.