Federated Hermes Inc. Increases Stake in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Federated Hermes Inc. grew its position in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 13.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,016,300 shares of the company’s stock after buying an additional 244,722 shares during the quarter. Federated Hermes Inc. owned 2.25% of Intellia Therapeutics worth $61,477,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. ARK Investment Management LLC raised its position in Intellia Therapeutics by 14.7% during the 4th 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 during the last quarter. BlackRock Inc. raised its position in Intellia Therapeutics by 9.6% during the 2nd quarter. BlackRock Inc. now owns 8,054,963 shares of the company’s stock worth $328,481,000 after buying an additional 706,344 shares during the last quarter. Vanguard Group Inc. raised its position in Intellia Therapeutics by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 6,617,323 shares of the company’s stock worth $370,305,000 after buying an additional 108,041 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Intellia Therapeutics by 3.7% during the 3rd 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 during the last quarter. Finally, State Street Corp raised its position in Intellia Therapeutics by 31.1% during the 2nd quarter. State Street Corp now owns 3,143,811 shares of the company’s stock worth $162,724,000 after buying an additional 746,284 shares during the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Insiders Place Their Bets

In other Intellia Therapeutics news, EVP James Basta sold 2,297 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $32.99, for a total transaction of $75,778.03. Following the sale, the executive vice president now directly owns 81,571 shares of the company’s stock, valued at approximately $2,691,027.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. The Goldman Sachs Group downgraded shares of Intellia Therapeutics from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $136.00 to $32.00 in a research report on Friday, February 23rd. Wolfe Research initiated coverage on shares of Intellia Therapeutics in a report on Thursday, February 15th. They issued a “peer perform” rating for the company. Canaccord Genuity Group increased their price target on shares of Intellia Therapeutics from $72.00 to $73.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Finally, Wedbush reiterated a “neutral” rating and issued a $29.00 price target on shares of Intellia Therapeutics in a report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.00.

Intellia Therapeutics Stock Performance

NASDAQ:NTLA opened at $21.57 on Friday. The firm has a 50-day moving average price of $27.21 and a two-hundred day moving average price of $27.86. Intellia Therapeutics, Inc. has a twelve month low of $20.78 and a twelve month high of $47.48.

Intellia Therapeutics (NASDAQ:NTLA) last posted its earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share for the quarter, beating the consensus estimate of ($1.47) by $0.01. Intellia Therapeutics had a negative net margin of 893.34% and a negative return on equity of 43.91%. The firm had revenue of ($1.92) million during the quarter, compared to the consensus estimate of $15.10 million. During the same period last year, the firm posted ($1.40) EPS. On average, equities analysts anticipate that Intellia Therapeutics, Inc. will post -5.58 earnings per share for the current year.

Intellia Therapeutics Profile

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.