Regeneron Pharmaceuticals Inc. Invests $43.18 Million in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Regeneron Pharmaceuticals Inc. bought a new stake in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 3,702,995 shares of the company's stock, valued at approximately $43,177,000. Intellia Therapeutics comprises approximately 3.9% of Regeneron Pharmaceuticals Inc.'s portfolio, making the stock its 2nd largest holding. Regeneron Pharmaceuticals Inc. owned approximately 3.64% of Intellia Therapeutics at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NTLA. Whipplewood Advisors LLC bought a new stake in shares of Intellia Therapeutics in the 4th quarter valued at $40,000. KBC Group NV increased its position in shares of Intellia Therapeutics by 37.3% in the 3rd quarter. KBC Group NV now owns 3,753 shares of the company's stock valued at $77,000 after buying an additional 1,020 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Intellia Therapeutics by 140.9% in the 4th quarter. Jones Financial Companies Lllp now owns 3,898 shares of the company's stock valued at $45,000 after buying an additional 2,280 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Intellia Therapeutics by 80.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 5,151 shares of the company's stock valued at $60,000 after buying an additional 2,299 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new stake in shares of Intellia Therapeutics in the 3rd quarter valued at $151,000. Institutional investors own 88.77% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms recently commented on NTLA. Wells Fargo & Company lowered their price objective on shares of Intellia Therapeutics from $60.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $13.00 target price (down from $45.00) on shares of Intellia Therapeutics in a research note on Friday, February 28th. William Blair reaffirmed a "neutral" rating and issued a $14.00 target price on shares of Intellia Therapeutics in a research note on Monday, November 18th. BMO Capital Markets reduced their target price on shares of Intellia Therapeutics from $70.00 to $50.00 and set an "outperform" rating for the company in a research note on Friday, January 10th. Finally, HC Wainwright initiated coverage on shares of Intellia Therapeutics in a research note on Wednesday, March 5th. They issued a "buy" rating and a $30.00 target price for the company. Two investment analysts have 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 stock. According to MarketBeat.com, Intellia Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $37.56.

Intellia Therapeutics Stock Down 1.7 %

Shares of NTLA traded down $0.16 during mid-day trading on Tuesday, hitting $9.30. 2,594,109 shares of the company's stock were exchanged, compared to its average volume of 3,355,445. Intellia Therapeutics, Inc. has a 52 week low of $8.30 and a 52 week high of $29.69. The stock's 50-day simple moving average is $10.52 and its 200-day simple moving average is $14.88. The firm has a market cap of $962.71 million, a price-to-earnings ratio of -1.71 and a beta of 1.97.

Insider Activity at Intellia Therapeutics

In related news, CEO John M. Leonard sold 26,807 shares of Intellia Therapeutics stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $12.18, for a total value of $326,509.26. Following the transaction, the chief executive officer now directly owns 941,115 shares of the company's stock, valued at $11,462,780.70. This trade represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 29,000 shares of company stock valued at $352,551 over the last three months. 3.20% of the stock is owned by insiders.

Intellia Therapeutics 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.