Acadian Asset Management LLC cut its position in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 22.8% during the second quarter, Holdings Channel reports. The institutional investor owned 74,230 shares of the company’s stock after selling 21,923 shares during the period. Acadian Asset Management LLC’s holdings in Intellia Therapeutics were worth $1,188,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the stock. IHT Wealth Management LLC bought a new stake in shares of Intellia Therapeutics during the first quarter worth $117,000. Bank of Montreal Can raised its stake in shares of Intellia Therapeutics by 1,031.7% in the second quarter. Bank of Montreal Can now owns 7,922 shares of the company’s stock worth $127,000 after buying an additional 7,222 shares in the last quarter. Nisa Investment Advisors LLC bought a new stake in shares of Intellia Therapeutics during the second quarter worth $134,000. Russell Investments Group Ltd. bought a new stake in shares of Intellia Therapeutics during the first quarter worth $137,000. Finally, Meridian Investment Counsel Inc. bought a new stake in shares of Intellia Therapeutics during the first quarter worth $141,000. 46.88% of the stock is owned by institutional investors and hedge funds.
Intellia Therapeutics, Inc. (NASDAQ NTLA) traded down 3.23% during mid-day trading on Thursday, reaching $15.89. 75,823 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $16.37 and a 200-day moving average of $14.26. Intellia Therapeutics, Inc. has a 12 month low of $10.83 and a 12 month high of $24.90. The firm’s market cap is $573.82 million.
Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings data on Thursday, August 3rd. The company reported ($0.45) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by $0.03. Intellia Therapeutics had a negative return on equity of 22.70% and a negative net margin of 204.48%. The firm had revenue of $5.90 million for the quarter, compared to analyst estimates of $5.83 million. The company’s revenue was up 40.5% compared to the same quarter last year. Analysts anticipate that Intellia Therapeutics, Inc. will post ($1.74) earnings per share for the current year.
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A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of Intellia Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, April 18th. Wedbush reissued an “outperform” rating and issued a $25.00 price target on shares of Intellia Therapeutics in a report on Wednesday, May 3rd. Jefferies Group LLC reissued a “buy” rating and issued a $36.00 price target on shares of Intellia Therapeutics in a report on Thursday, June 22nd. Credit Suisse Group set a $24.00 price target on shares of Intellia Therapeutics and gave the company a “buy” rating in a report on Saturday, June 3rd. Finally, Chardan Capital reissued a “buy” rating and issued a $20.00 price target (up previously from $19.00) on shares of Intellia Therapeutics in a report on Wednesday, August 2nd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $24.83.
In other news, major shareholder Venture Fund Ix L.P. Atlas sold 150,000 shares of the stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $16.24, for a total transaction of $2,436,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 12.80% of the company’s stock.
About Intellia Therapeutics
Intellia Therapeutics, Inc is a genome editing company. The Company is focused on developing therapeutics utilizing a biological tool known as CRISPR/Cas9. The CRISPR/Cas9 genome editing system includes two components: the Cas9 protein and the guide RNA sequence. The Cas9 protein acts like a pair of molecular scissors that initiates the natural cellular repair process to knockout, repair or insert a gene.
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