ARK Investment Management LLC Grows Stake in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

ARK Investment Management LLC boosted its position in Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 14.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,412,449 shares of the company’s stock after purchasing an additional 1,463,820 shares during the period. Intellia Therapeutics comprises 2.1% of ARK Investment Management LLC’s investment portfolio, making the stock its 16th biggest position. ARK Investment Management LLC owned approximately 12.74% of Intellia Therapeutics worth $347,966,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NTLA. Barclays PLC increased its position in Intellia Therapeutics by 15.0% during the third quarter. Barclays PLC now owns 256,626 shares of the company’s stock worth $8,115,000 after buying an additional 33,558 shares in the last quarter. American Century Companies Inc. increased its position in Intellia Therapeutics by 5.9% during the third quarter. American Century Companies Inc. now owns 267,213 shares of the company’s stock worth $8,449,000 after buying an additional 14,863 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Intellia Therapeutics by 1.4% during the third quarter. Wellington Management Group LLP now owns 2,651,994 shares of the company’s stock worth $83,856,000 after purchasing an additional 36,630 shares during the last quarter. Rafferty Asset Management LLC boosted its holdings in shares of Intellia Therapeutics by 20.5% during the third quarter. Rafferty Asset Management LLC now owns 251,125 shares of the company’s stock worth $7,941,000 after purchasing an additional 42,757 shares during the last quarter. Finally, Rhenman & Partners Asset Management AB boosted its holdings in shares of Intellia Therapeutics by 1,600.0% during the third quarter. Rhenman & Partners Asset Management AB now owns 850,000 shares of the company’s stock worth $26,877,000 after purchasing an additional 800,000 shares during the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.

Intellia Therapeutics Trading Up 2.9 %

Shares of NASDAQ NTLA opened at $27.02 on Thursday. The stock has a 50 day simple moving average of $27.59 and a 200-day simple moving average of $28.93. Intellia Therapeutics, Inc. has a 12-month low of $22.67 and a 12-month high of $47.48. The company has a market cap of $2.60 billion, a PE ratio of -4.99 and a beta of 1.80.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.47) by $0.01. Intellia Therapeutics had a negative return on equity of 43.91% and a negative net margin of 893.34%. The business had revenue of ($1.92) million during the quarter, compared to analyst estimates of $15.10 million. During the same period in the previous year, the company earned ($1.40) EPS. Sell-side analysts forecast that Intellia Therapeutics, Inc. will post -5.58 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO John M. Leonard sold 19,223 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $29.46, for a total value of $566,309.58. Following the completion of the sale, the chief executive officer now directly owns 846,486 shares in the company, valued at approximately $24,937,477.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP James Basta sold 2,297 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $32.99, for a total transaction of $75,778.03. Following the completion of the sale, the executive vice president now directly owns 81,571 shares of the company’s stock, valued at approximately $2,691,027.29. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John M. Leonard sold 19,223 shares of the company’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $29.46, for a total transaction of $566,309.58. Following the sale, the chief executive officer now directly owns 846,486 shares of the company’s stock, valued at $24,937,477.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,003 shares of company stock valued at $1,037,955. Insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NTLA shares. Wolfe Research initiated coverage on Intellia Therapeutics in a report on Thursday, February 15th. They set a “peer perform” rating on the stock. The Goldman Sachs Group cut Intellia Therapeutics from a “buy” rating to a “neutral” rating and reduced their target price for the company from $136.00 to $32.00 in a report on Friday, February 23rd. Wedbush reiterated a “neutral” rating and issued a $29.00 target price on shares of Intellia Therapeutics in a report on Thursday, February 15th. Finally, Canaccord Genuity Group lifted their target price on Intellia Therapeutics from $72.00 to $73.00 and gave the company a “buy” rating in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Intellia Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $67.86.

Intellia Therapeutics 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.