Royal Bank of Canada lifted its holdings in Intellia Therapeutics, Inc. (NASDAQ:NTLA – Free Report) by 1,082.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 465,499 shares of the company’s stock after purchasing an additional 426,121 shares during the period. Royal Bank of Canada’s holdings in Intellia Therapeutics were worth $5,968,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Quantinno Capital Management LP grew its position in shares of Intellia Therapeutics by 18.7% during the 1st quarter. Quantinno Capital Management LP now owns 39,709 shares of the company’s stock valued at $509,000 after buying an additional 6,266 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Intellia Therapeutics in the first quarter worth about $17,913,000. Sei Investments Co. lifted its holdings in Intellia Therapeutics by 13.0% in the first quarter. Sei Investments Co. now owns 20,093 shares of the company’s stock worth $258,000 after acquiring an additional 2,316 shares during the last quarter. Cetera Investment Advisers boosted its stake in Intellia Therapeutics by 6.3% in the first quarter. Cetera Investment Advisers now owns 53,793 shares of the company’s stock valued at $690,000 after acquiring an additional 3,192 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in Intellia Therapeutics by 36.4% in the first quarter. PNC Financial Services Group Inc. now owns 3,552 shares of the company’s stock valued at $46,000 after acquiring an additional 948 shares during the period. 88.77% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Intellia Therapeutics
In related news, EVP Edward J. Dulac III sold 4,677 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was 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 of the company’s stock, valued at $2,813,148. The trade was a 2.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Michael P. Dube sold 2,641 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $16.78, for a total value of $44,315.98. Following the completion of the sale, the chief accounting officer owned 66,886 shares of the company’s stock, valued at $1,122,347.08. This trade represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 3.50% of the company’s stock.
Intellia Therapeutics Stock Performance
Intellia Therapeutics (NASDAQ:NTLA – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.80). Intellia Therapeutics had a negative return on equity of 57.79% and a negative net margin of 672.16%.The business had revenue of $7.66 million during the quarter, compared to the consensus estimate of $12.98 million. During the same period in the previous year, the firm posted ($0.98) earnings per share. The business’s revenue was down 46.4% on a year-over-year basis. Analysts predict that Intellia Therapeutics, Inc. will post -3.17 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on NTLA shares. Robert W. Baird increased their price target on Intellia Therapeutics from $7.00 to $13.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. The Goldman Sachs Group boosted their price objective on Intellia Therapeutics from $8.00 to $9.00 and gave the company a “sell” rating in a research report on Tuesday, April 28th. Wedbush upped their price objective on Intellia Therapeutics from $12.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, July 10th. New Street Research set a $25.00 target price on Intellia Therapeutics in a research report on Monday, June 15th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $49.00 target price on shares of Intellia Therapeutics in a research note on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Intellia Therapeutics currently has an average rating of “Hold” and an average target price of $20.85.
View Our Latest Analysis on NTLA
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.
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