ARK Investment Management LLC Buys 659,651 Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA)

ARK Investment Management LLC boosted its holdings in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) by 5.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,255,440 shares of the company's stock after purchasing an additional 659,651 shares during the quarter. Intellia Therapeutics comprises approximately 2.3% of ARK Investment Management LLC's holdings, making the stock its 11th largest position. ARK Investment Management LLC owned about 12.06% of Intellia Therapeutics worth $251,849,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. First Horizon Advisors Inc. boosted its stake in Intellia Therapeutics by 22.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company's stock valued at $58,000 after purchasing an additional 472 shares during the period. Elmwood Wealth Management Inc. boosted its stake in Intellia Therapeutics by 0.9% during the 3rd quarter. Elmwood Wealth Management Inc. now owns 67,774 shares of the company's stock valued at $1,393,000 after purchasing an additional 600 shares during the period. Interchange Capital Partners LLC lifted its position in shares of Intellia Therapeutics by 6.5% in the 1st quarter. Interchange Capital Partners LLC now owns 10,909 shares of the company's stock worth $303,000 after acquiring an additional 670 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Intellia Therapeutics by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,894 shares of the company's stock worth $245,000 after acquiring an additional 750 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Intellia Therapeutics by 27.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company's stock worth $77,000 after acquiring an additional 794 shares during the period. Institutional investors own 88.77% of the company's stock.

Insider Activity

In other news, CAO Michael P. Dube sold 2,012 shares of Intellia Therapeutics stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total value of $38,248.12. Following the completion of the sale, the chief accounting officer now directly owns 47,012 shares of the company's stock, valued at approximately $893,698.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.20% of the company's stock.

Intellia Therapeutics Price Performance

Shares of NASDAQ NTLA traded up $0.73 during midday trading on Friday, hitting $16.73. The stock had a trading volume of 2,417,141 shares, compared to its average volume of 1,660,295. The company's 50-day simple moving average is $19.28 and its 200 day simple moving average is $22.25. The firm has a market cap of $1.70 billion, a P/E ratio of -3.02 and a beta of 1.81. Intellia Therapeutics, Inc. has a fifty-two week low of $13.95 and a fifty-two week high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported ($1.34) EPS for the quarter, beating the consensus estimate of ($1.37) by $0.03. The firm had revenue of $9.10 million during the quarter, compared to analyst estimates of $8.28 million. The firm's quarterly revenue was down 24.1% on a year-over-year basis. During the same period last year, the business posted ($1.38) earnings per share. Equities analysts expect that Intellia Therapeutics, Inc. will post -5.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on NTLA. Robert W. Baird reduced their price objective on Intellia Therapeutics from $24.00 to $18.00 and set a "neutral" rating for the company in a research report on Friday, October 25th. The Goldman Sachs Group reduced their price objective on Intellia Therapeutics from $31.00 to $20.00 and set a "neutral" rating for the company in a research report on Friday, October 25th. Stifel Nicolaus reduced their price objective on Intellia Therapeutics from $80.00 to $64.00 and set a "buy" rating for the company in a research report on Wednesday, September 11th. Wedbush reissued a "neutral" rating and issued a $14.00 target price on shares of Intellia Therapeutics in a report on Thursday. Finally, Citigroup dropped their target price on Intellia Therapeutics from $25.00 to $19.00 and set a "neutral" rating for the company in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Intellia Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $57.94.

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.