Bank of New York Mellon Corp Cuts Stock Holdings in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Bank of New York Mellon Corp reduced its position in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 284,614 shares of the company’s stock after selling 3,730 shares during the period. Bank of New York Mellon Corp’s holdings in Intellia Therapeutics were worth $3,319,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of NTLA. Atria Investments Inc boosted its holdings in shares of Intellia Therapeutics by 24.3% during the 3rd quarter. Atria Investments Inc now owns 23,099 shares of the company’s stock worth $475,000 after purchasing an additional 4,511 shares during the last quarter. KBC Group NV boosted its holdings in shares of Intellia Therapeutics by 37.3% during the 3rd quarter. KBC Group NV now owns 3,753 shares of the company’s stock worth $77,000 after purchasing an additional 1,020 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of Intellia Therapeutics by 181.6% during the 3rd quarter. Quest Partners LLC now owns 19,748 shares of the company’s stock worth $406,000 after purchasing an additional 12,734 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Intellia Therapeutics by 21.6% during the 3rd quarter. Jennison Associates LLC now owns 47,899 shares of the company’s stock worth $984,000 after purchasing an additional 8,497 shares during the last quarter. Finally, Grandfield & Dodd LLC acquired a new position in shares of Intellia Therapeutics during the 3rd quarter worth approximately $267,000. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intellia Therapeutics

In related news, CEO John M. Leonard sold 26,807 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $12.18, for a total value of $326,509.26. Following the completion of the sale, the chief executive officer now owns 941,115 shares in the company, valued at $11,462,780.70. This trade represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 29,000 shares of company stock worth $352,551 over the last 90 days. Company insiders own 3.20% of the company’s stock.

Intellia Therapeutics Stock Up 1.2 %

Shares of NASDAQ:NTLA opened at $9.30 on Thursday. The company has a market cap of $962.71 million, a P/E ratio of -1.71 and a beta of 1.97. Intellia Therapeutics, Inc. has a 52 week low of $8.30 and a 52 week high of $28.54. The company has a 50-day moving average price of $10.18 and a 200 day moving average price of $14.37.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on NTLA shares. Chardan Capital decreased their price objective on Intellia Therapeutics from $91.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, February 28th. StockNews.com upgraded Intellia Therapeutics to a “sell” rating in a report on Monday, March 3rd. Morgan Stanley cut Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $56.00 to $11.00 in a report on Monday, January 27th. Barclays decreased their price objective on Intellia Therapeutics from $55.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Finally, Truist Financial decreased their price objective on Intellia Therapeutics from $90.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Intellia Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.56.

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.