JPMorgan Chase & Co. Sells 20,051 Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA)

JPMorgan Chase & Co. decreased its stake in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 3.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 649,054 shares of the company’s stock after selling 20,051 shares during the period. JPMorgan Chase & Co.’s holdings in Intellia Therapeutics were worth $13,338,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in shares of Intellia Therapeutics by 763.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock worth $39,000 after purchasing an additional 1,550 shares in the last quarter. Eastern Bank acquired a new stake in shares of Intellia Therapeutics in the third quarter valued at approximately $41,000. Values First Advisors Inc. bought a new position in Intellia Therapeutics in the 3rd quarter worth approximately $54,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Intellia Therapeutics by 27.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock worth $77,000 after buying an additional 794 shares in the last quarter. Finally, KBC Group NV boosted its position in Intellia Therapeutics by 37.3% in the 3rd quarter. KBC Group NV now owns 3,753 shares of the company’s stock valued at $77,000 after buying an additional 1,020 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

Insider Transactions at Intellia Therapeutics

In related news, CEO John M. Leonard sold 26,807 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $12.18, for a total transaction of $326,509.26. Following the completion of the transaction, the chief executive officer now directly owns 941,115 shares in the company, valued at approximately $11,462,780.70. This trade represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 28,735 shares of company stock valued at $349,909 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Intellia Therapeutics Trading Down 15.1 %

NASDAQ:NTLA opened at $10.20 on Friday. Intellia Therapeutics, Inc. has a 1 year low of $9.93 and a 1 year high of $34.87. The stock has a 50-day moving average price of $13.77 and a two-hundred day moving average price of $18.96. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -1.87 and a beta of 1.83.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.37) by $0.03. The business had revenue of $9.10 million during the quarter, compared to analyst estimates of $8.28 million. Intellia Therapeutics’s revenue for the quarter was down 24.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.38) earnings per share. Sell-side analysts forecast that Intellia Therapeutics, Inc. will post -5.12 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Chardan Capital upped their price target on Intellia Therapeutics from $88.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, November 18th. The Goldman Sachs Group cut their target price on shares of Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Royal Bank of Canada reissued an “outperform” rating and set a $54.00 price target on shares of Intellia Therapeutics in a research note on Thursday, September 19th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Intellia Therapeutics in a research note on Tuesday, November 19th. Finally, Oppenheimer dropped their target price on shares of Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Intellia Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $52.81.

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.