Intellia Therapeutics, Inc. (NASDAQ:NTLA) Stake Increased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its stake in Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 26.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,382 shares of the company’s stock after acquiring an additional 17,082 shares during the period. State of New Jersey Common Pension Fund D owned 0.09% of Intellia Therapeutics worth $2,481,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. ARK Investment Management LLC lifted its position in shares of 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 purchasing an additional 1,463,820 shares during the last quarter. Rhenman & Partners Asset Management AB increased its holdings in shares of Intellia Therapeutics by 1,600.0% in the 3rd quarter. Rhenman & Partners Asset Management AB now owns 850,000 shares of the company’s stock valued at $26,877,000 after acquiring an additional 800,000 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Intellia Therapeutics by 13.8% during the 4th quarter. Federated Hermes Inc. now owns 2,016,300 shares of the company’s stock valued at $61,477,000 after acquiring an additional 244,722 shares in the last quarter. abrdn plc bought a new position in Intellia Therapeutics during the fourth quarter worth $4,704,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Intellia Therapeutics by 3.7% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,520,295 shares of the company’s stock worth $111,312,000 after purchasing an additional 125,639 shares during the period. 88.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Intellia Therapeutics Stock Performance

NTLA stock opened at $22.50 on Thursday. The firm’s 50-day moving average is $26.19 and its two-hundred day moving average is $27.38. Intellia Therapeutics, Inc. has a 52 week low of $19.37 and a 52 week high of $47.48.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share (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 during the quarter, compared to analyst estimates of $15.10 million. During the same period last year, the company posted ($1.40) EPS. Equities analysts anticipate that Intellia Therapeutics, Inc. will post -5.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Wedbush reaffirmed a “neutral” rating and issued a $29.00 price target on shares of Intellia Therapeutics in a report on Tuesday, April 23rd. The Goldman Sachs Group cut Intellia Therapeutics from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $136.00 to $32.00 in a research report on Friday, February 23rd. Wolfe Research initiated coverage on Intellia Therapeutics in a research report on Thursday, February 15th. They issued a “peer perform” rating on the stock. Finally, Canaccord Genuity Group boosted 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Intellia Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Intellia Therapeutics Company 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.