Renaissance Technologies LLC Purchases New Position in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Renaissance Technologies LLC purchased a new position in Intellia Therapeutics, Inc. (NASDAQ:NTLA) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 38,700 shares of the company’s stock, valued at approximately $866,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in Intellia Therapeutics by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,324,561 shares of the company’s stock worth $29,648,000 after purchasing an additional 98,865 shares in the last quarter. Federated Hermes Inc. increased its holdings in Intellia Therapeutics by 19.2% in the second quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock valued at $51,494,000 after buying an additional 371,189 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Intellia Therapeutics by 23.8% during the second quarter. American Century Companies Inc. now owns 330,514 shares of the company’s stock valued at $7,397,000 after purchasing an additional 63,550 shares during the last quarter. Arizona State Retirement System grew its holdings in Intellia Therapeutics by 9.7% in the 2nd quarter. Arizona State Retirement System now owns 25,648 shares of the company’s stock worth $574,000 after buying an additional 2,267 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Intellia Therapeutics by 5.3% during the 2nd quarter. Rhumbline Advisers now owns 175,335 shares of the company’s stock valued at $3,924,000 after acquiring an additional 8,797 shares during the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

Intellia Therapeutics Stock Performance

Intellia Therapeutics stock opened at $17.84 on Tuesday. The stock has a market cap of $1.72 billion, a PE ratio of -3.33 and a beta of 1.76. Intellia Therapeutics, Inc. has a fifty-two week low of $17.43 and a fifty-two week high of $34.87. The firm’s 50-day simple moving average is $21.82 and its 200 day simple moving average is $23.41.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.52) EPS for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.29). The business had revenue of $7.00 million for the quarter, compared to analyst estimates of $19.68 million. Intellia Therapeutics’s quarterly revenue was down 48.5% on a year-over-year basis. During the same period in the previous year, the company posted ($1.40) earnings per share. As a group, analysts predict that Intellia Therapeutics, Inc. will post -5.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NTLA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating for the company in a report on Monday, August 12th. Stifel Nicolaus decreased their price target on shares of Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Truist Financial restated a “buy” rating and set a $120.00 price target on shares of Intellia Therapeutics in a report on Monday, June 24th. Royal Bank of Canada restated an “outperform” rating and set a $54.00 price target on shares of Intellia Therapeutics in a report on Thursday, September 19th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $73.00 price target on shares of Intellia Therapeutics in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $61.77.

Insider Buying and Selling

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,012 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total transaction of $38,248.12. Following the sale, the chief accounting officer now directly owns 47,012 shares in the company, valued at approximately $893,698.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.00% of the stock is currently owned by company insiders.

About Intellia Therapeutics

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.