898,963 Shares in Intellia Therapeutics, Inc. $NTLA Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Intellia Therapeutics, Inc. (NASDAQ:NTLA) in the second quarter, HoldingsChannel reports. The fund purchased 898,963 shares of the company’s stock, valued at approximately $15,210,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC grew its holdings in shares of Intellia Therapeutics by 154.1% during the 1st quarter. AQR Capital Management LLC now owns 90,875 shares of the company’s stock worth $646,000 after acquiring an additional 55,118 shares during the period. Woodline Partners LP bought a new position in shares of Intellia Therapeutics in the 1st quarter worth approximately $171,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Intellia Therapeutics by 8.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 521,706 shares of the company’s stock valued at $3,709,000 after purchasing an additional 38,521 shares during the period. Creative Planning lifted its stake in shares of Intellia Therapeutics by 12.9% in the 2nd quarter. Creative Planning now owns 33,102 shares of the company’s stock valued at $310,000 after purchasing an additional 3,795 shares during the period. Finally, Cetera Investment Advisers boosted its position in shares of Intellia Therapeutics by 47.4% during the second quarter. Cetera Investment Advisers now owns 33,532 shares of the company’s stock valued at $315,000 after purchasing an additional 10,785 shares in the last quarter. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Intellia Therapeutics Stock Performance

NASDAQ:NTLA opened at $13.51 on Wednesday. The firm has a market cap of $1.89 billion, a P/E ratio of -4.02 and a beta of 1.81. Intellia Therapeutics, Inc. has a fifty-two week low of $7.95 and a fifty-two week high of $28.25. The firm has a 50-day simple moving average of $13.40 and a two-hundred day simple moving average of $13.36.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.80) EPS for the quarter, meeting analysts’ consensus estimates of ($0.80). The firm had revenue of $7.66 million for the quarter, compared to analysts’ expectations of $12.98 million. Intellia Therapeutics had a negative net margin of 672.16% and a negative return on equity of 57.79%. The business’s revenue for the quarter was down 46.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.98) earnings per share. On average, equities research analysts predict that Intellia Therapeutics, Inc. will post -3.21 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on NTLA. New Street Research set a $25.00 price target on Intellia Therapeutics in a research note on Monday, June 15th. The Goldman Sachs Group raised their price objective on Intellia Therapeutics from $8.00 to $9.00 and gave the company a “sell” rating in a research report on Tuesday, April 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Intellia Therapeutics in a report on Friday, July 17th. Citigroup restated a “market outperform” rating on shares of Intellia Therapeutics in a report on Tuesday. Finally, Evercore raised shares of Intellia Therapeutics from a “hold” rating to an “outperform” rating and set a $24.00 target price on the stock in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $21.15.

Insider Buying and Selling at Intellia Therapeutics

In other news, EVP Edward J. Dulac III sold 4,677 shares of the company’s stock in a transaction 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 transaction, the executive vice president directly owned 156,286 shares of the company’s stock, valued at $2,813,148. This represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Michael P. Dube sold 2,641 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $16.78, for a total value of $44,315.98. Following the sale, the chief accounting officer directly owned 66,886 shares in the company, valued at $1,122,347.08. This trade represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 3.50% of the company’s stock.

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.