Wedbush Securities Inc. Takes Position in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Wedbush Securities Inc. bought a new stake in Intellia Therapeutics, Inc. (NASDAQ:NTLA) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 8,987 shares of the company’s stock, valued at approximately $721,000.

Several other hedge funds and other institutional investors have also modified their holdings of NTLA. Price T Rowe Associates Inc. MD boosted its stake in shares of Intellia Therapeutics by 45.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,120,883 shares of the company’s stock valued at $115,376,000 after purchasing an additional 662,878 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Intellia Therapeutics by 320.6% in the 4th quarter. Federated Hermes Inc. now owns 499,359 shares of the company’s stock valued at $27,165,000 after purchasing an additional 380,640 shares during the last quarter. Avidity Partners Management LP bought a new position in shares of Intellia Therapeutics in the 4th quarter valued at about $16,483,000. Compagnie Lombard Odier SCmA boosted its stake in Intellia Therapeutics by 4,658.7% during the 1st quarter. Compagnie Lombard Odier SCmA now owns 285,520 shares of the company’s stock worth $22,914,000 after acquiring an additional 279,520 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in Intellia Therapeutics by 331.8% during the 4th quarter. UBS Asset Management Americas Inc. now owns 280,999 shares of the company’s stock worth $15,286,000 after acquiring an additional 215,922 shares during the last quarter. 95.58% of the stock is currently owned by institutional investors.

NASDAQ NTLA opened at $73.80 on Tuesday. Intellia Therapeutics, Inc. has a 12-month low of $12.35 and a 12-month high of $92.00. The company has a market capitalization of $5.03 billion, a PE ratio of -32.37 and a beta of 2.09. The firm’s 50 day moving average is $72.30 and its 200-day moving average is $57.73.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings data on Thursday, February 25th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.57) by ($0.12). Intellia Therapeutics had a negative net margin of 193.01% and a negative return on equity of 40.14%. The business had revenue of $6.60 million during the quarter, compared to analyst estimates of $14.39 million. On average, sell-side analysts predict that Intellia Therapeutics, Inc. will post -2.27 earnings per share for the current fiscal year.

In related news, Director Jean Francois Formela sold 501,945 shares of the business’s stock in a transaction on Friday, February 26th. The shares were sold at an average price of $60.29, for a total transaction of $30,262,264.05. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Jose E. Rivera sold 11,489 shares of the business’s stock in a transaction on Tuesday, February 9th. The stock was sold at an average price of $75.00, for a total transaction of $861,675.00. Following the transaction, the executive vice president now owns 129,409 shares in the company, valued at $9,705,675. The disclosure for this sale can be found here. Insiders sold 861,171 shares of company stock worth $59,030,481 over the last quarter. 4.10% of the stock is owned by corporate insiders.

Several research analysts recently weighed in on NTLA shares. Zacks Investment Research raised shares of Intellia Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, March 3rd. Barclays lifted their price objective on shares of Intellia Therapeutics from $46.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, January 8th. Raymond James lifted their price objective on shares of Intellia Therapeutics from $39.00 to $106.00 and gave the stock an “outperform” rating in a research note on Friday, January 8th. Truist lifted their price objective on shares of Intellia Therapeutics from $40.00 to $80.00 in a research note on Friday, February 26th. Finally, SVB Leerink reaffirmed a “buy” rating on shares of Intellia Therapeutics in a research note on Sunday, March 21st. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $56.85.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc, a genome editing company, focuses on the development of therapeutics. It utilizes a biological tool known as the Clustered, Regularly Interspaced Short Palindromic Repeats/CRISPR associated 9 (CRISPR/Cas9) system. The company's in vivo programs include NTLA-2001, which is in Phase 1 clinical trial for the treatment of transthyretin amyloidosis; and NTLA-2002 for the treatment of hereditary angioedema, as well as other liver-focused programs comprising hemophilia A and hemophilia B, hyperoxaluria Type 1, and alpha-1 antitrypsin deficiency.

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Institutional Ownership by Quarter for Intellia Therapeutics (NASDAQ:NTLA)

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