State Street Corp Raises Stock Position in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

State Street Corp raised its position in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA - Free Report) by 17.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,143,534 shares of the company's stock after buying an additional 780,754 shares during the quarter. State Street Corp owned about 5.05% of Intellia Therapeutics worth $105,700,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Patient Square Capital LP purchased a new position in Intellia Therapeutics during the third quarter valued at $2,642,000. Dimensional Fund Advisors LP boosted its stake in Intellia Therapeutics by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,324,561 shares of the company's stock worth $29,648,000 after purchasing an additional 98,865 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Intellia Therapeutics by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 827,545 shares of the company's stock valued at $17,006,000 after purchasing an additional 37,714 shares during the last quarter. Verition Fund Management LLC increased its stake in Intellia Therapeutics by 116.3% during the 3rd quarter. Verition Fund Management LLC now owns 94,426 shares of the company's stock valued at $1,940,000 after purchasing an additional 50,763 shares in the last quarter. Finally, FMR LLC increased its stake in Intellia Therapeutics by 5.0% during the 3rd quarter. FMR LLC now owns 2,339,522 shares of the company's stock valued at $48,077,000 after purchasing an additional 111,104 shares in the last quarter. Institutional investors own 88.77% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. William Blair reiterated a "neutral" rating and issued a $14.00 target price on shares of Intellia Therapeutics in a research note on Monday, November 18th. StockNews.com raised Intellia Therapeutics to a "sell" rating in a research report on Friday, November 8th. Royal Bank of Canada reiterated an "outperform" rating and set a $54.00 target price on shares of Intellia Therapeutics in a research note on Thursday, September 19th. Chardan Capital boosted their price target on Intellia Therapeutics from $88.00 to $91.00 and gave the stock a "buy" rating in a research note on Monday, November 18th. Finally, Citigroup dropped their price objective on Intellia Therapeutics from $25.00 to $19.00 and set a "neutral" rating on the stock in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Intellia Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $54.94.

Insider Activity

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,012 shares of the firm's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total transaction of $38,248.12. Following the sale, the chief accounting officer now owns 47,012 shares in the company, valued at approximately $893,698.12. This trade represents a 4.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.20% of the company's stock.

Intellia Therapeutics Stock Up 3.7 %

NTLA traded up $0.48 during trading on Monday, hitting $13.38. The company's stock had a trading volume of 2,134,951 shares, compared to its average volume of 1,762,059. Intellia Therapeutics, Inc. has a one year low of $12.47 and a one year high of $34.87. The business's 50 day simple moving average is $16.13 and its 200-day simple moving average is $20.60. The firm has a market cap of $1.36 billion, a PE ratio of -2.46 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) earnings per share for the quarter, beating the consensus estimate of ($1.37) by $0.03. The company had revenue of $9.10 million for the quarter, compared to analysts' expectations of $8.28 million. Intellia Therapeutics's revenue for the quarter was down 24.1% on a year-over-year basis. During the same quarter last year, the firm posted ($1.38) earnings per share. Equities research analysts expect that Intellia Therapeutics, Inc. will post -5.12 EPS 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.