Quest Partners LLC Sells 2,793 Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Quest Partners LLC reduced its stake in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 28.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 7,014 shares of the company’s stock after selling 2,793 shares during the quarter. Quest Partners LLC’s holdings in Intellia Therapeutics were worth $157,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ARK Investment Management LLC lifted its holdings in Intellia Therapeutics by 5.5% in the 2nd quarter. ARK Investment Management LLC now owns 11,595,789 shares of the company’s stock worth $259,514,000 after purchasing an additional 606,507 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Intellia Therapeutics by 8.9% in the first quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock valued at $250,168,000 after purchasing an additional 746,263 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Intellia Therapeutics by 5.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,170,829 shares of the company’s stock worth $35,704,000 after buying an additional 60,748 shares during the period. Chevy Chase Trust Holdings LLC grew its stake in Intellia Therapeutics by 8.4% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 1,074,610 shares of the company’s stock valued at $29,563,000 after buying an additional 83,435 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Intellia Therapeutics by 3.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 824,527 shares of the company’s stock worth $25,140,000 after acquiring an additional 28,264 shares during the period. Institutional investors and hedge funds own 88.77% of the company’s stock.

Intellia Therapeutics Trading Up 6.8 %

NTLA stock opened at $22.07 on Monday. Intellia Therapeutics, Inc. has a 1-year low of $19.21 and a 1-year high of $36.25. The business’s 50 day moving average is $23.41 and its 200-day moving average is $24.40. The firm has a market cap of $2.24 billion, a P/E ratio of -4.12 and a beta of 1.77.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($1.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.29). The business had revenue of $7.00 million during the quarter, compared to analysts’ expectations of $19.68 million. Intellia Therapeutics’s revenue for the quarter was down 48.5% on a year-over-year basis. During the same quarter last year, the business earned ($1.40) EPS. Sell-side analysts forecast that Intellia Therapeutics, Inc. will post -5.19 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NTLA. JPMorgan Chase & Co. decreased their price target on shares of Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating for the company in a report on Monday, August 12th. Stifel Nicolaus lowered their target price on Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price target on shares of Intellia Therapeutics in a report on Monday, June 24th. Truist Financial restated a “buy” rating and issued a $120.00 price objective on shares of Intellia Therapeutics in a research note on Monday, June 24th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $73.00 target price on shares of Intellia Therapeutics in a research note on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Intellia Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $61.77.

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.