Headlands Technologies LLC Acquires New Shares in Intellia Therapeutics, Inc. $NTLA

Headlands Technologies LLC purchased a new stake in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 94,250 shares of the company’s stock, valued at approximately $1,595,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of America Corp DE grew its holdings in Intellia Therapeutics by 11.2% during the first quarter. Bank of America Corp DE now owns 1,381,703 shares of the company’s stock valued at $17,713,000 after purchasing an additional 139,325 shares during the period. Royal Bank of Canada raised its stake in shares of Intellia Therapeutics by 1,082.1% in the first quarter. Royal Bank of Canada now owns 465,499 shares of the company’s stock worth $5,968,000 after buying an additional 426,121 shares during the period. Wesbanco Bank Inc. purchased a new position in shares of Intellia Therapeutics during the 4th quarter valued at about $575,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Intellia Therapeutics during the 1st quarter valued at about $1,809,000. Finally, BlackRock Inc. bought a new position in shares of Intellia Therapeutics during the 2nd quarter valued at approximately $260,721,000. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Intellia Therapeutics Stock Performance

NTLA opened at $12.73 on Tuesday. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of -3.79 and a beta of 1.81. The company has a fifty day moving average of $13.19 and a 200 day moving average of $13.39. Intellia Therapeutics, Inc. has a fifty-two week low of $7.95 and a fifty-two week high of $28.25.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.80) EPS for the quarter, hitting the consensus estimate of ($0.80). Intellia Therapeutics had a negative net margin of 672.16% and a negative return on equity of 57.79%. The business had revenue of $7.66 million for the quarter, compared to analysts’ expectations of $12.98 million. During the same quarter in the previous year, the company earned ($0.98) EPS. The business’s quarterly revenue was down 46.4% compared to the same quarter last year. On average, equities research analysts forecast that Intellia Therapeutics, Inc. will post -3.21 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Intellia Therapeutics in a report on Friday, July 17th. Citizens Jmp reaffirmed a “market outperform” rating and set a $30.00 price target on shares of Intellia Therapeutics in a report on Tuesday, August 25th. Wedbush increased their price objective on shares of Intellia Therapeutics from $12.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, July 10th. Wall Street Zen lowered Intellia Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $49.00 price target on shares of Intellia Therapeutics in a report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $21.15.

Insider Activity

In related news, EVP Edward J. Dulac III sold 4,677 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $18.00, for a total value of $84,186.00. Following the sale, the executive vice president directly owned 156,286 shares in the company, valued at approximately $2,813,148. The trade was a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Michael P. Dube sold 2,641 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $16.78, for a total value of $44,315.98. Following the completion of the sale, the chief accounting officer owned 66,886 shares in the company, valued at $1,122,347.08. This represents a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 3.50% of the company’s stock.

Intellia Therapeutics Profile

Intellia Therapeutics, Inc (NASDAQ: NTLA) is a clinical?stage biotechnology company focused on developing potentially curative genome editing therapies using the CRISPR/Cas9 platform. The company’s research spans both in vivo and ex vivo applications of CRISPR/Cas9, aiming to correct or disable disease?causing genes with a single administration. Intellia’s lead in vivo program targets transthyretin amyloidosis (ATTR) by delivering CRISPR/Cas9 machinery directly to the liver, while additional preclinical efforts pursue treatments for hemophilia A, hereditary angioedema and other genetic disorders.

Beyond its in vivo pipeline, Intellia collaborates with strategic partners to extend the impact of its genome editing approach.