Legal & General Group Plc Buys New Position in Intellia Therapeutics, Inc. $NTLA

Legal & General Group Plc bought a new stake in Intellia Therapeutics, Inc. (NASDAQ:NTLA) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 114,006 shares of the company’s stock, valued at approximately $1,929,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Bank of America Corp DE grew its stake in shares of Intellia Therapeutics by 11.2% in the first quarter. Bank of America Corp DE now owns 1,381,703 shares of the company’s stock worth $17,713,000 after acquiring an additional 139,325 shares in the last quarter. Royal Bank of Canada grew its stake in Intellia Therapeutics by 1,082.1% during the 1st quarter. Royal Bank of Canada now owns 465,499 shares of the company’s stock worth $5,968,000 after purchasing an additional 426,121 shares in the last quarter. BlackRock Inc. purchased a new stake in Intellia Therapeutics during the 2nd quarter worth about $260,721,000. Wesbanco Bank Inc. acquired a new stake in Intellia Therapeutics in the 4th quarter valued at about $575,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Intellia Therapeutics in the 1st quarter valued at about $1,809,000. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intellia Therapeutics

In related news, CAO Michael P. Dube sold 2,641 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $16.78, for a total transaction of $44,315.98. Following the sale, the chief accounting officer owned 66,886 shares of the company’s stock, valued at approximately $1,122,347.08. The trade was a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 company’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 transaction, the executive vice president owned 156,286 shares in the company, valued at $2,813,148. The trade was a 2.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Canaccord Genuity Group restated a “buy” rating and set a $49.00 target price on shares of Intellia Therapeutics in a research note on Tuesday, June 16th. Wedbush boosted their price target on shares of Intellia Therapeutics from $12.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. Wall Street Zen downgraded shares of Intellia Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Citizens Jmp restated a “market outperform” rating and issued a $30.00 price objective on shares of Intellia Therapeutics in a report on Tuesday, August 25th. Finally, Evercore raised shares of Intellia Therapeutics from a “hold” rating to an “outperform” rating and set a $24.00 price objective for the company in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $21.15.

Intellia Therapeutics Stock Performance

Shares of NASDAQ:NTLA opened at $12.74 on Monday. The company has a 50-day simple moving average of $12.94 and a 200-day simple moving average of $13.41. Intellia Therapeutics, Inc. has a one year low of $7.95 and a one year high of $28.25. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -3.79 and a beta of 1.82.

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