Chevy Chase Trust Holdings LLC Sells 231,592 Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Chevy Chase Trust Holdings LLC lowered its stake in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 22.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 811,033 shares of the company’s stock after selling 231,592 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.80% of Intellia Therapeutics worth $16,667,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in shares of Intellia Therapeutics by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,324,561 shares of the company’s stock valued at $29,648,000 after purchasing an additional 98,865 shares during the last quarter. Thrivent Financial for Lutherans acquired a new stake in shares of Intellia Therapeutics in the 2nd quarter valued at $679,000. American Century Companies Inc. raised its position in shares of Intellia Therapeutics by 23.8% during the second quarter. American Century Companies Inc. now owns 330,514 shares of the company’s stock worth $7,397,000 after acquiring an additional 63,550 shares during the last quarter. Comerica Bank lifted its stake in shares of Intellia Therapeutics by 853.6% during the first quarter. Comerica Bank now owns 37,105 shares of the company’s stock valued at $1,021,000 after acquiring an additional 33,214 shares during the period. Finally, ARK Investment Management LLC boosted its holdings in Intellia Therapeutics by 5.7% in the third quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock valued at $251,849,000 after acquiring an additional 659,651 shares during the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

Insider Activity

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,012 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total transaction of $38,248.12. Following the sale, the chief accounting officer now directly owns 47,012 shares of the company’s stock, valued at $893,698.12. The trade was a 4.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 3.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

NTLA has been the subject of several recent research reports. Oppenheimer dropped their price objective on Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Wells Fargo & Company cut their price objective on shares of Intellia Therapeutics from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Barclays dropped their target price on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Chardan Capital raised their price target on Intellia Therapeutics from $88.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Finally, Citigroup decreased their price objective on Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Intellia Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $54.94.

Intellia Therapeutics Trading Down 6.9 %

NTLA opened at $14.65 on Wednesday. The stock has a market capitalization of $1.49 billion, a P/E ratio of -2.69 and a beta of 1.76. Intellia Therapeutics, Inc. has a 12 month low of $12.82 and a 12 month high of $34.87. The firm’s fifty day simple moving average is $17.00 and its 200 day simple moving average is $21.19.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) earnings per share for the quarter, topping the consensus estimate of ($1.37) by $0.03. The firm had revenue of $9.10 million for the quarter, compared to analyst estimates of $8.28 million. During the same period in the prior year, the company earned ($1.38) earnings per share. The firm’s quarterly revenue was down 24.1% on a year-over-year basis. On average, equities research analysts predict that Intellia Therapeutics, Inc. will post -5.12 EPS for the current fiscal year.

Intellia Therapeutics Company 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.