Intellia Therapeutics, Inc. (NASDAQ:NTLA) Shares Acquired by Avidity Partners Management LP

Avidity Partners Management LP lifted its stake in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) by 18.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 447,434 shares of the company's stock after purchasing an additional 68,334 shares during the period. Avidity Partners Management LP owned approximately 0.50% of Intellia Therapeutics worth $13,642,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NTLA. Charles Schwab Investment Management Inc. increased its position in Intellia Therapeutics by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 700,228 shares of the company's stock worth $21,350,000 after purchasing an additional 18,987 shares during the period. ARK Investment Management LLC grew its position in shares of Intellia Therapeutics by 14.7% during the 4th quarter. ARK Investment Management LLC now owns 11,412,449 shares of the company's stock worth $347,966,000 after buying an additional 1,463,820 shares during the period. American Century Companies Inc. lifted its holdings in Intellia Therapeutics by 5.9% in the third quarter. American Century Companies Inc. now owns 267,213 shares of the company's stock valued at $8,449,000 after buying an additional 14,863 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in Intellia Therapeutics by 13.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 36,225 shares of the company's stock valued at $1,104,000 after buying an additional 4,255 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Intellia Therapeutics by 1.4% in the third quarter. Wellington Management Group LLP now owns 2,651,994 shares of the company's stock valued at $83,856,000 after acquiring an additional 36,630 shares during the last quarter. 88.77% of the stock is owned by institutional investors.

Intellia Therapeutics Stock Up 2.0 %

NTLA traded up $0.47 during trading on Tuesday, hitting $23.75. The company had a trading volume of 1,400,076 shares, compared to its average volume of 1,522,749. The firm's 50-day moving average price is $23.60 and its 200 day moving average price is $26.78. The company has a market capitalization of $2.29 billion, a PE ratio of -4.43 and a beta of 1.84. Intellia Therapeutics, Inc. has a one year low of $19.37 and a one year high of $47.48.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($1.06) EPS for the quarter, beating analysts' consensus estimates of ($1.35) by $0.29. The company had revenue of $28.94 million for the quarter, compared to analyst estimates of $15.60 million. Intellia Therapeutics had a negative return on equity of 45.35% and a negative net margin of 893.34%. Sell-side analysts forecast that Intellia Therapeutics, Inc. will post -5 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wedbush reissued a "neutral" rating and issued a $29.00 price target on shares of Intellia Therapeutics in a research note on Tuesday, April 23rd. Wolfe Research initiated coverage on Intellia Therapeutics in a research report on Thursday, February 15th. They set a "peer perform" rating for the company. Citigroup lowered their price target on Intellia Therapeutics from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Friday, May 10th. StockNews.com raised shares of Intellia Therapeutics to a "sell" rating in a research note on Friday, May 10th. Finally, Canaccord Genuity Group upped their target price on shares of Intellia Therapeutics from $72.00 to $73.00 and gave the company a "buy" rating in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Intellia Therapeutics has an average rating of "Moderate Buy" and an average target price of $66.77.

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.