Axxcess Wealth Management LLC Buys 594 Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Axxcess Wealth Management LLC grew its stake in Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,592 shares of the company’s stock after purchasing an additional 594 shares during the period. Axxcess Wealth Management LLC’s holdings in Intellia Therapeutics were worth $475,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. ARK Investment Management LLC grew its position in Intellia Therapeutics by 14.7% during the fourth 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 in the last quarter. Rhenman & Partners Asset Management AB increased its position in shares of Intellia Therapeutics by 1,600.0% during the third quarter. Rhenman & Partners Asset Management AB now owns 850,000 shares of the company’s stock valued at $26,877,000 after purchasing an additional 800,000 shares during the period. Federated Hermes Inc. raised its stake in shares of Intellia Therapeutics by 13.8% in the fourth quarter. Federated Hermes Inc. now owns 2,016,300 shares of the company’s stock valued at $61,477,000 after purchasing an additional 244,722 shares in the last quarter. abrdn plc acquired a new position in shares of Intellia Therapeutics in the fourth quarter valued at $4,704,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Intellia Therapeutics by 3.7% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,520,295 shares of the company’s stock worth $111,312,000 after buying an additional 125,639 shares in the last quarter. Institutional investors own 88.77% of the company’s stock.

Intellia Therapeutics Price Performance

Shares of Intellia Therapeutics stock opened at $23.88 on Wednesday. The firm has a 50 day simple moving average of $25.84 and a 200 day simple moving average of $27.25. Intellia Therapeutics, Inc. has a fifty-two week low of $19.37 and a fifty-two week high of $47.48. The firm has a market cap of $2.30 billion, a P/E ratio of -4.41 and a beta of 1.85.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, beating analysts’ consensus estimates of ($1.47) by $0.01. Intellia Therapeutics had a negative return on equity of 43.91% and a negative net margin of 893.34%. The firm had revenue of ($1.92) million for the quarter, compared to analyst estimates of $15.10 million. During the same period last year, the company earned ($1.40) EPS. On average, sell-side analysts expect that Intellia Therapeutics, Inc. will post -5.57 EPS for the current year.

Wall Street Analyst Weigh In

NTLA has been the subject of a number of recent research reports. Canaccord Genuity Group increased their price objective 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. Wedbush restated a “neutral” rating and set a $29.00 price target on shares of Intellia Therapeutics in a research note on Tuesday, April 23rd. The Goldman Sachs Group lowered Intellia Therapeutics from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $136.00 to $32.00 in a research note on Friday, February 23rd. Finally, Wolfe Research initiated coverage on Intellia Therapeutics in a research report on Thursday, February 15th. They set a “peer perform” rating for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $67.00.

Insiders Place Their Bets

In other Intellia Therapeutics news, EVP James Basta sold 2,297 shares of Intellia Therapeutics stock in a transaction on Monday, March 4th. The shares were sold at an average price of $32.99, for a total transaction of $75,778.03. Following the completion of the sale, the executive vice president now owns 81,571 shares of the company’s stock, valued at approximately $2,691,027.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.00% of the company’s stock.

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.