Sumitomo Mitsui Trust Group Inc. Lowers Position in Intellia Therapeutics, Inc. $NTLA

Sumitomo Mitsui Trust Group Inc. cut its position in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 10.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,973,061 shares of the company’s stock after selling 219,400 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 1.67% of Intellia Therapeutics worth $25,295,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farallon Capital Management LLC bought a new position in shares of Intellia Therapeutics in the 3rd quarter worth about $10,486,000. Wesbanco Bank Inc. bought a new stake in Intellia Therapeutics during the fourth quarter worth about $575,000. Y Intercept Hong Kong Ltd bought a new stake in Intellia Therapeutics during the first quarter worth about $1,809,000. Canal Insurance CO purchased a new stake in Intellia Therapeutics in the fourth quarter worth about $899,000. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of Intellia Therapeutics during the fourth quarter valued at approximately $318,000. 88.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NTLA. Wedbush lifted their target price on shares of Intellia Therapeutics from $12.00 to $17.00 and gave the company a “neutral” rating in a report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intellia Therapeutics in a research report on Tuesday, April 21st. Sanford C. Bernstein lifted their price objective on Intellia Therapeutics from $13.00 to $17.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. Citizens Jmp reissued a “market outperform” rating and issued a $30.00 target price on shares of Intellia Therapeutics in a report on Monday, June 15th. Finally, Robert W. Baird increased their target price on Intellia Therapeutics from $7.00 to $13.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.67.

Insider Transactions at Intellia Therapeutics

In other news, CAO Michael P. Dube sold 2,641 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $16.78, for a total transaction of $44,315.98. Following the completion of the transaction, the chief accounting officer directly owned 66,886 shares of the company’s stock, valued at $1,122,347.08. The trade was a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Edward J. Dulac III sold 4,677 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $18.00, for a total transaction of $84,186.00. Following the completion of the sale, the executive vice president owned 156,286 shares in the company, valued at $2,813,148. This represents a 2.91% decrease in their position. The SEC filing for this sale provides additional information. 3.50% of the stock is currently owned by insiders.

Intellia Therapeutics Stock Down 8.4%

NASDAQ:NTLA opened at $13.02 on Tuesday. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -3.68 and a beta of 1.77. The company’s 50 day moving average price is $14.40 and its 200-day moving average price is $13.35. Intellia Therapeutics, Inc. has a 52 week low of $7.95 and a 52 week high of $28.25.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.11. Intellia Therapeutics had a negative return on equity of 57.47% and a negative net margin of 597.04%.The business had revenue of $15.05 million for the quarter, compared to analysts’ expectations of $13.81 million. During the same period in the prior year, the firm posted ($1.10) EPS. As a group, sell-side analysts anticipate that Intellia Therapeutics, Inc. will post -3.18 earnings per share for the current year.

About Intellia Therapeutics

Intellia Therapeutics, Inc (NASDAQ: NTLA) is a clinical‐stage biotechnology company focused on developing potentially curative genome editing therapies using the CRISPR/Cas9 platform. The company’s research spans both in vivo and ex vivo applications of CRISPR/Cas9, aiming to correct or disable disease‐causing genes with a single administration. Intellia’s lead in vivo program targets transthyretin amyloidosis (ATTR) by delivering CRISPR/Cas9 machinery directly to the liver, while additional preclinical efforts pursue treatments for hemophilia A, hereditary angioedema and other genetic disorders.

Beyond its in vivo pipeline, Intellia collaborates with strategic partners to extend the impact of its genome editing approach.