Alliancebernstein L.P. Sells 1,928,469 Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Alliancebernstein L.P. trimmed its position in Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) by 87.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 265,318 shares of the company's stock after selling 1,928,469 shares during the quarter. Alliancebernstein L.P. owned approximately 0.26% of Intellia Therapeutics worth $3,094,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in Intellia Therapeutics by 8.5% in the 4th quarter. Wellington Management Group LLP now owns 699,814 shares of the company's stock worth $8,160,000 after purchasing an additional 55,051 shares in the last quarter. Norges Bank bought a new position in shares of Intellia Therapeutics in the fourth quarter worth $350,000. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Intellia Therapeutics by 137.3% in the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 54,657 shares of the company's stock worth $637,000 after buying an additional 31,626 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Intellia Therapeutics by 67.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,293 shares of the company's stock valued at $210,000 after buying an additional 6,972 shares during the period. Finally, EntryPoint Capital LLC purchased a new position in Intellia Therapeutics during the fourth quarter worth about $378,000. 88.77% of the stock is owned by hedge funds and other institutional investors.

Intellia Therapeutics Stock Performance

Shares of NTLA stock traded up $0.37 during mid-day trading on Friday, hitting $7.23. The company's stock had a trading volume of 2,864,822 shares, compared to its average volume of 2,348,694. The stock has a market cap of $748.43 million, a price-to-earnings ratio of -1.33 and a beta of 2.23. Intellia Therapeutics, Inc. has a 52-week low of $5.90 and a 52-week high of $28.18. The business has a 50-day moving average price of $8.89 and a 200 day moving average price of $12.11.

Analyst Ratings Changes

Several analysts have weighed in on NTLA shares. BMO Capital Markets lowered their price target on Intellia Therapeutics from $70.00 to $50.00 and set an "outperform" rating on the stock in a report on Friday, January 10th. Barclays dropped their target price on shares of Intellia Therapeutics from $55.00 to $26.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. HC Wainwright started coverage on shares of Intellia Therapeutics in a research report on Wednesday, March 5th. They set a "buy" rating and a $30.00 price target for the company. The Goldman Sachs Group reaffirmed a "sell" rating and set a $9.00 price objective on shares of Intellia Therapeutics in a research note on Friday, February 28th. Finally, Truist Financial lowered their price objective on Intellia Therapeutics from $90.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $37.56.

About Intellia Therapeutics

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.