PDT Partners LLC Reduces Stock Position in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

PDT Partners LLC decreased its stake in Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) by 93.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,814 shares of the company's stock after selling 212,406 shares during the period. PDT Partners LLC's holdings in Intellia Therapeutics were worth $304,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NTLA. First Horizon Advisors Inc. raised its stake in shares of Intellia Therapeutics by 22.1% during the second quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company's stock valued at $58,000 after acquiring an additional 472 shares during the last quarter. Elmwood Wealth Management Inc. increased its position in shares of Intellia Therapeutics by 0.9% during the third quarter. Elmwood Wealth Management Inc. now owns 67,774 shares of the company's stock worth $1,393,000 after buying an additional 600 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Intellia Therapeutics by 27.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company's stock worth $77,000 after buying an additional 794 shares during the period. Capstone Investment Advisors LLC increased its position in shares of Intellia Therapeutics by 1.4% during the third quarter. Capstone Investment Advisors LLC now owns 61,129 shares of the company's stock worth $1,256,000 after buying an additional 831 shares during the period. Finally, KBC Group NV increased its position in shares of Intellia Therapeutics by 37.3% during the third quarter. KBC Group NV now owns 3,753 shares of the company's stock worth $77,000 after buying an additional 1,020 shares during the period. Institutional investors own 88.77% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NTLA shares. Barclays decreased their price objective on shares of Intellia Therapeutics from $76.00 to $55.00 and set an "overweight" rating for the company in a research report on Friday, November 8th. Citigroup reduced their price target on shares of Intellia Therapeutics from $25.00 to $19.00 and set a "neutral" rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. reduced their price target on shares of Intellia Therapeutics from $61.00 to $55.00 and set an "overweight" rating for the company in a report on Monday, August 12th. Canaccord Genuity Group restated a "buy" rating and issued a $90.00 price target on shares of Intellia Therapeutics in a report on Tuesday, November 19th. Finally, StockNews.com upgraded shares of Intellia Therapeutics to a "sell" rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $54.94.

Intellia Therapeutics Trading Down 1.1 %

Shares of NTLA traded down $0.16 during trading hours on Wednesday, reaching $14.49. 1,587,833 shares of the stock traded hands, compared to its average volume of 1,747,800. The stock has a fifty day simple moving average of $17.00 and a 200 day simple moving average of $21.19. Intellia Therapeutics, Inc. has a 52 week low of $12.82 and a 52 week high of $34.87. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -2.66 and a beta of 1.76.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share for the quarter, beating analysts' consensus estimates of ($1.37) by $0.03. The firm had revenue of $9.10 million for the quarter, compared to the consensus estimate of $8.28 million. During the same period in the previous year, the business earned ($1.38) earnings per share. The firm's revenue for the quarter was down 24.1% on a year-over-year basis. Analysts predict that Intellia Therapeutics, Inc. will post -5.12 earnings per share for the current fiscal year.

Insider Activity at Intellia Therapeutics

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,012 shares of Intellia Therapeutics stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total value of $38,248.12. Following the sale, the chief accounting officer now owns 47,012 shares of the company's stock, valued at approximately $893,698.12. The trade was a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.20% of the stock is owned by insiders.

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.