The Manufacturers Life Insurance Company Buys New Position in Intellia Therapeutics, Inc. $NTLA

The Manufacturers Life Insurance Company bought a new stake in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 57,036 shares of the company’s stock, valued at approximately $965,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Intellia Therapeutics in the second quarter valued at approximately $260,721,000. ARK Investment Management LLC raised its holdings in Intellia Therapeutics by 19.2% during the fourth quarter. ARK Investment Management LLC now owns 14,207,324 shares of the company’s stock worth $127,724,000 after purchasing an additional 2,288,146 shares in the last quarter. Vanguard Group Inc. raised its holdings in Intellia Therapeutics by 17.8% during the fourth quarter. Vanguard Group Inc. now owns 13,010,001 shares of the company’s stock worth $116,960,000 after purchasing an additional 1,965,181 shares in the last quarter. State Street Corp lifted its position in Intellia Therapeutics by 29.1% in the fourth quarter. State Street Corp now owns 6,418,836 shares of the company’s stock worth $57,705,000 after purchasing an additional 1,447,967 shares during the period. Finally, Geode Capital Management LLC lifted its position in Intellia Therapeutics by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 2,696,187 shares of the company’s stock worth $24,243,000 after purchasing an additional 107,333 shares during the period. 88.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NTLA shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intellia Therapeutics in a research report on Friday, July 17th. Canaccord Genuity Group restated a “buy” rating and issued a $49.00 price objective on shares of Intellia Therapeutics in a report on Tuesday, June 16th. Evercore raised Intellia Therapeutics from a “hold” rating to an “outperform” rating and set a $24.00 target price for the company in a research note on Friday, August 7th. Sanford C. Bernstein raised their target price on shares of Intellia Therapeutics from $13.00 to $17.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Finally, Citizens Jmp reissued a “market outperform” rating and set a $30.00 target price on shares of Intellia Therapeutics in a research note on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $21.15.

Intellia Therapeutics Stock Performance

NASDAQ NTLA opened at $12.74 on Friday. The stock’s fifty day moving average is $12.94 and its two-hundred day moving average is $13.40. The firm has a market capitalization of $1.79 billion, a P/E ratio of -3.79 and a beta of 1.82. Intellia Therapeutics, Inc. has a fifty-two week low of $7.95 and a fifty-two week high of $28.25.

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

Insider Transactions at Intellia Therapeutics

In related news, CAO Michael Dube sold 2,641 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $16.78, for a total value of $44,315.98. Following the completion of the sale, the chief accounting officer owned 66,886 shares of the company’s stock, valued at approximately $1,122,347.08. This represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP J III sold 4,677 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $18.00, for a total transaction of $84,186.00. Following the sale, the executive vice president owned 156,286 shares of the company’s stock, valued at approximately $2,813,148. The trade was a 2.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.50% of the company’s stock.

Intellia Therapeutics Company Profile

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.