State Street Corp Acquires 780,754 Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA)

State Street Corp increased its stake in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 17.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,143,534 shares of the company’s stock after purchasing an additional 780,754 shares during the quarter. State Street Corp owned approximately 0.05% of Intellia Therapeutics worth $105,700,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Blue Trust Inc. boosted its stake in Intellia Therapeutics by 1,664.3% during the second quarter. Blue Trust Inc. now owns 1,482 shares of the company’s stock worth $33,000 after buying an additional 1,398 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Intellia Therapeutics by 763.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock valued at $39,000 after acquiring an additional 1,550 shares during the period. Eastern Bank bought a new stake in shares of Intellia Therapeutics in the 3rd quarter worth about $41,000. First Horizon Advisors Inc. boosted its stake in shares of Intellia Therapeutics by 22.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company’s stock worth $58,000 after purchasing an additional 472 shares during the period. Finally, Values First Advisors Inc. purchased a new position in shares of Intellia Therapeutics during the third quarter valued at approximately $54,000. Institutional investors own 88.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NTLA. StockNews.com raised shares of Intellia Therapeutics to a “sell” rating in a research note on Friday, November 8th. The Goldman Sachs Group reduced their price objective on shares of Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $90.00 target price on shares of Intellia Therapeutics in a research report on Tuesday, November 19th. Robert W. Baird reduced their target price on shares of Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Finally, Chardan Capital increased 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Intellia Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $54.94.

Intellia Therapeutics Price Performance

NTLA stock opened at $12.90 on Monday. The company has a market capitalization of $1.31 billion, a P/E ratio of -2.37 and a beta of 1.76. Intellia Therapeutics, Inc. has a 12 month low of $12.47 and a 12 month high of $34.87. The firm’s fifty day simple moving average is $16.13 and its 200-day simple moving average is $20.60.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($1.34) 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 analysts’ expectations 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 period in the previous year, the company posted ($1.38) earnings per share. As a group, sell-side analysts forecast that Intellia Therapeutics, Inc. will post -5.12 earnings per share for the current year.

Insider Activity

In other news, CAO Michael P. Dube sold 2,012 shares of Intellia Therapeutics stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total transaction of $38,248.12. Following the completion of the transaction, the chief accounting officer now directly owns 47,012 shares of the company’s stock, valued at $893,698.12. The trade was a 4.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.20% of the company’s stock.

Intellia Therapeutics 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.