PNC Financial Services Group Inc. Sells 11,633 Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA)

PNC Financial Services Group Inc. reduced its stake in Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 69.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,227 shares of the company’s stock after selling 11,633 shares during the period. PNC Financial Services Group Inc.’s holdings in Intellia Therapeutics were worth $61,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in NTLA. Whipplewood Advisors LLC purchased a new stake in Intellia Therapeutics during the 4th quarter worth about $40,000. Jones Financial Companies Lllp increased its position in shares of Intellia Therapeutics by 140.9% during the fourth quarter. Jones Financial Companies Lllp now owns 3,898 shares of the company’s stock valued at $45,000 after buying an additional 2,280 shares during the period. KBC Group NV lifted its holdings in shares of Intellia Therapeutics by 62.4% in the fourth quarter. KBC Group NV now owns 6,093 shares of the company’s stock worth $71,000 after buying an additional 2,340 shares in the last quarter. AdvisorNet Financial Inc boosted its position in shares of Intellia Therapeutics by 96.4% in the fourth quarter. AdvisorNet Financial Inc now owns 10,085 shares of the company’s stock valued at $118,000 after acquiring an additional 4,950 shares during the period. Finally, LMG Wealth Partners LLC purchased a new position in Intellia Therapeutics during the fourth quarter valued at approximately $130,000. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Intellia Therapeutics Stock Performance

Shares of NTLA opened at $8.31 on Thursday. Intellia Therapeutics, Inc. has a fifty-two week low of $8.12 and a fifty-two week high of $28.23. The firm has a market cap of $860.23 million, a price-to-earnings ratio of -1.53 and a beta of 1.97. The firm has a 50 day moving average price of $10.03 and a 200-day moving average price of $13.93.

Insider Buying and Selling

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of Intellia Therapeutics stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $12.18, for a total value of $326,509.26. Following the transaction, the chief executive officer now directly owns 941,115 shares of the company’s stock, valued at $11,462,780.70. The trade was a 2.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 29,000 shares of company stock worth $352,551 in the last 90 days. 3.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on NTLA. Citigroup increased their target price on shares of Intellia Therapeutics from $12.00 to $14.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. Barclays lowered their price objective on Intellia Therapeutics from $55.00 to $26.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Oppenheimer dropped their price objective on Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. The Goldman Sachs Group restated a “sell” rating and issued a $9.00 target price on shares of Intellia Therapeutics in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $13.00 price target (down previously from $45.00) on shares of Intellia Therapeutics in a research report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.56.

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.