Sumitomo Mitsui Trust Holdings Inc. Reduces Stock Position in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 2.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,399,318 shares of the company’s stock after selling 79,244 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 3.52% of Intellia Therapeutics worth $93,515,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NTLA. Seven Eight Capital LP lifted its stake in shares of Intellia Therapeutics by 65.0% during the 3rd quarter. Seven Eight Capital LP now owns 19,158 shares of the company’s stock worth $606,000 after purchasing an additional 7,549 shares during the period. American Century Companies Inc. increased its stake in Intellia Therapeutics by 5.9% in the third quarter. American Century Companies Inc. now owns 267,213 shares of the company’s stock valued at $8,449,000 after purchasing an additional 14,863 shares during the last quarter. Wellington Management Group LLP lifted its position in Intellia Therapeutics by 1.4% during the third quarter. Wellington Management Group LLP now owns 2,651,994 shares of the company’s stock worth $83,856,000 after buying an additional 36,630 shares during the period. Hudson Bay Capital Management LP boosted its stake in Intellia Therapeutics by 15.8% in the 3rd quarter. Hudson Bay Capital Management LP now owns 185,200 shares of the company’s stock worth $5,856,000 after buying an additional 25,200 shares during the last quarter. Finally, Interchange Capital Partners LLC grew its holdings in Intellia Therapeutics by 6.3% in the 4th quarter. Interchange Capital Partners LLC now owns 10,239 shares of the company’s stock valued at $311,000 after buying an additional 605 shares during the period. 88.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NTLA has been the topic of several recent analyst reports. Truist Financial reiterated a “buy” rating and set a $120.00 price objective on shares of Intellia Therapeutics in a report on Monday, June 24th. StockNews.com raised shares of Intellia Therapeutics to a “sell” rating in a research note on Thursday, June 27th. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 price objective on shares of Intellia Therapeutics in a report on Monday, June 24th. Citigroup reduced their target price on Intellia Therapeutics from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $73.00 price target on shares of Intellia Therapeutics in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.00.

Intellia Therapeutics Trading Up 3.6 %

NTLA opened at $22.95 on Friday. The firm’s 50 day moving average is $23.88 and its 200-day moving average is $26.11. Intellia Therapeutics, Inc. has a 52-week low of $19.37 and a 52-week high of $46.50.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings results on Thursday, May 9th. The company reported ($1.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.35) by $0.29. The firm had revenue of $28.94 million for the quarter, compared to analysts’ expectations of $15.60 million. On average, sell-side analysts anticipate that Intellia Therapeutics, Inc. will post -4.98 EPS for the current year.

About Intellia Therapeutics

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.