PNC Financial Services Group Inc. Grows Holdings in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

PNC Financial Services Group Inc. grew its position in Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 209.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,561 shares of the company’s stock after purchasing an additional 7,151 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Intellia Therapeutics were worth $322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Avidity Partners Management LP boosted its holdings in Intellia Therapeutics by 18.0% in the 4th quarter. Avidity Partners Management LP now owns 447,434 shares of the company’s stock worth $13,642,000 after buying an additional 68,334 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Intellia Therapeutics by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 700,228 shares of the company’s stock worth $21,350,000 after acquiring an additional 18,987 shares during the period. ARK Investment Management LLC grew its position in shares of Intellia Therapeutics by 14.7% during the fourth quarter. ARK Investment Management LLC now owns 11,412,449 shares of the company’s stock worth $347,966,000 after purchasing an additional 1,463,820 shares in the last quarter. American Century Companies Inc. raised its stake in Intellia Therapeutics by 5.9% during the 3rd quarter. American Century Companies Inc. now owns 267,213 shares of the company’s stock valued at $8,449,000 after purchasing an additional 14,863 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in Intellia Therapeutics by 13.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 36,225 shares of the company’s stock worth $1,104,000 after purchasing an additional 4,255 shares in the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. StockNews.com raised shares of Intellia Therapeutics to a “sell” rating in a report on Thursday. Canaccord Genuity Group reaffirmed a “buy” rating and set a $73.00 target price on shares of Intellia Therapeutics in a research note on Thursday. Truist Financial reiterated a “buy” rating and issued a $120.00 price target on shares of Intellia Therapeutics in a research note on Monday, June 24th. BMO Capital Markets increased their price objective on shares of Intellia Therapeutics from $62.00 to $70.00 and gave the company an “outperform” rating in a report on Friday, May 10th. Finally, Citigroup reduced their target price on Intellia Therapeutics from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intellia Therapeutics has an average rating of “Moderate Buy” and an average price target of $69.00.

Intellia Therapeutics Stock Down 3.5 %

NASDAQ NTLA opened at $22.38 on Friday. Intellia Therapeutics, Inc. has a 52 week low of $19.37 and a 52 week high of $46.50. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of -4.18 and a beta of 1.84. The company has a fifty day moving average of $23.76 and a two-hundred day moving average of $26.31.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings results on Thursday, May 9th. The company reported ($1.06) EPS for the quarter, topping analysts’ consensus estimates of ($1.35) by $0.29. The firm had revenue of $28.94 million during the quarter, compared to analysts’ expectations of $15.60 million. Intellia Therapeutics had a negative net margin of 893.34% and a negative return on equity of 45.35%. Equities research analysts anticipate that Intellia Therapeutics, Inc. will post -4.98 EPS for the current year.

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.