Grandfield & Dodd LLC Makes New Investment in Intellia Therapeutics, Inc. $NTLA

Grandfield & Dodd LLC purchased a new stake in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 49,680 shares of the company’s stock, valued at approximately $841,000.

Several other hedge funds also recently modified their holdings of the company. Royal Bank of Canada grew its holdings in Intellia Therapeutics by 1,082.1% during the first quarter. Royal Bank of Canada now owns 465,499 shares of the company’s stock worth $5,968,000 after acquiring an additional 426,121 shares during the period. Wesbanco Bank Inc. acquired a new stake in Intellia Therapeutics in the 4th quarter valued at about $575,000. Y Intercept Hong Kong Ltd bought a new position in shares of Intellia Therapeutics during the 1st quarter valued at about $1,809,000. Canal Insurance CO boosted its position in shares of Intellia Therapeutics by 130.0% during the 1st quarter. Canal Insurance CO now owns 230,000 shares of the company’s stock valued at $2,949,000 after purchasing an additional 130,000 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Intellia Therapeutics during the 1st quarter valued at about $17,913,000. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on NTLA shares. Wolfe Research downgraded shares of Intellia Therapeutics from a “peer perform” rating to an “underperform” rating and set a $9.00 target price on the stock. in a report on Wednesday, July 15th. Morgan Stanley raised their target price on shares of Intellia Therapeutics from $11.00 to $15.00 and gave the stock an “equal weight” rating in a report on Monday, April 27th. Canaccord Genuity Group restated a “buy” rating and issued a $49.00 price target on shares of Intellia Therapeutics in a research report on Tuesday, June 16th. Citigroup reaffirmed a “market outperform” rating on shares of Intellia Therapeutics in a report on Monday, June 15th. Finally, Wedbush increased their price objective on Intellia Therapeutics from $12.00 to $17.00 and gave the company a “neutral” rating in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $21.15.

Intellia Therapeutics Trading Up 1.5%

NASDAQ NTLA opened at $12.09 on Tuesday. The stock’s 50-day moving average price is $13.45 and its two-hundred day moving average price is $13.38. The company has a market cap of $1.69 billion, a PE ratio of -3.60 and a beta of 1.81. Intellia Therapeutics, Inc. has a 1 year low of $7.95 and a 1 year high of $28.25.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.80) EPS for the quarter, meeting analysts’ consensus estimates of ($0.80). The company had revenue of $7.66 million during the quarter, compared to analyst estimates 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 quarterly revenue was down 46.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.98) earnings per share. Research analysts forecast that Intellia Therapeutics, Inc. will post -3.21 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Edward J. Dulac III sold 4,677 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $18.00, for a total value of $84,186.00. Following the completion of the sale, the executive vice president owned 156,286 shares in the company, valued at approximately $2,813,148. This represents a 2.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Michael P. Dube sold 2,641 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $16.78, for a total transaction of $44,315.98. Following the completion of the transaction, the chief accounting officer directly owned 66,886 shares of the company’s stock, valued at $1,122,347.08. This represents a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 3.50% of the stock is owned by insiders.

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.