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

Chevy Chase Trust Holdings LLC trimmed its holdings in Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) by 22.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 811,033 shares of the company's stock after selling 231,592 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.80% of Intellia Therapeutics worth $16,667,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NTLA. Comerica Bank grew its holdings in Intellia Therapeutics by 853.6% in the 1st quarter. Comerica Bank now owns 37,105 shares of the company's stock worth $1,021,000 after buying an additional 33,214 shares in the last quarter. GAMMA Investing LLC lifted its position in Intellia Therapeutics by 1,322.0% in the second quarter. GAMMA Investing LLC now owns 2,645 shares of the company's stock worth $59,000 after purchasing an additional 2,459 shares during the period. AdvisorNet Financial Inc lifted its position in Intellia Therapeutics by 63.5% in the second quarter. AdvisorNet Financial Inc now owns 5,100 shares of the company's stock worth $114,000 after purchasing an additional 1,980 shares during the period. Blue Trust Inc. lifted its position in Intellia Therapeutics by 1,664.3% in the second quarter. Blue Trust Inc. now owns 1,482 shares of the company's stock worth $33,000 after purchasing an additional 1,398 shares during the period. Finally, Intellectus Partners LLC lifted its position in Intellia Therapeutics by 2.1% in the second quarter. Intellectus Partners LLC now owns 58,225 shares of the company's stock worth $1,303,000 after purchasing an additional 1,225 shares during the period. 88.77% of the stock is owned by institutional investors.

Insider Activity at Intellia Therapeutics

In other 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 transaction, the chief accounting officer now directly owns 47,012 shares in the company, valued at $893,698.12. The trade was a 4.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Royal Bank of Canada restated an "outperform" rating and issued a $54.00 target price on shares of Intellia Therapeutics in a research report on Thursday, September 19th. Stifel Nicolaus cut 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. Citigroup cut their price objective on Intellia Therapeutics from $25.00 to $19.00 and set a "neutral" rating for the company in a research report on Friday, October 25th. Chardan Capital increased their price objective on Intellia Therapeutics from $88.00 to $91.00 and gave the company a "buy" rating in a research report on Monday, November 18th. Finally, Barclays reduced their target price on Intellia Therapeutics from $76.00 to $55.00 and set an "overweight" rating for the company in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $54.94.

Intellia Therapeutics Stock Performance

NTLA traded down $0.16 during trading on Wednesday, reaching $14.49. 1,587,833 shares of the company's stock were exchanged, compared to its average volume of 1,747,800. The company's fifty day moving average price is $16.88 and its 200-day moving average price is $21.14. Intellia Therapeutics, Inc. has a fifty-two week low of $12.82 and a fifty-two week high of $34.87. The firm has a market capitalization of $1.48 billion, a PE ratio of -2.66 and a beta of 1.76.

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, topping analysts' consensus estimates of ($1.37) by $0.03. The business had revenue of $9.10 million for the quarter, compared to analyst estimates of $8.28 million. Intellia Therapeutics's revenue was down 24.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.38) EPS. Research analysts forecast that Intellia Therapeutics, Inc. will post -5.12 earnings per share for the current fiscal year.

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.