Raymond James & Associates Sells 29,041 Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Raymond James & Associates cut its holdings in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 14.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 178,254 shares of the company’s stock after selling 29,041 shares during the period. Raymond James & Associates’ holdings in Intellia Therapeutics were worth $3,663,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NTLA. Vanguard Group Inc. increased its position in shares of Intellia Therapeutics by 8.9% during the first quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock worth $250,168,000 after acquiring an additional 746,263 shares in the last quarter. ARK Investment Management LLC increased its position in shares of Intellia Therapeutics by 5.5% during the second quarter. ARK Investment Management LLC now owns 11,595,789 shares of the company’s stock worth $259,514,000 after acquiring an additional 606,507 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Intellia Therapeutics by 19.2% during the second quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock worth $51,494,000 after acquiring an additional 371,189 shares in the last quarter. Opaleye Management Inc. increased its position in shares of Intellia Therapeutics by 157.6% during the first quarter. Opaleye Management Inc. now owns 255,000 shares of the company’s stock worth $7,015,000 after acquiring an additional 156,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Intellia Therapeutics by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,324,561 shares of the company’s stock worth $29,648,000 after acquiring an additional 98,865 shares in the last quarter. 88.77% of the stock is owned by institutional investors.

Intellia Therapeutics Stock Up 4.1 %

NTLA opened at $14.81 on Monday. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -2.70 and a beta of 1.81. Intellia Therapeutics, Inc. has a twelve month low of $13.95 and a twelve month high of $34.87. The company’s 50-day moving average price is $19.87 and its two-hundred day moving average price is $22.43.

Intellia Therapeutics (NASDAQ:NTLA) last announced 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 company had revenue of $7.00 million for the quarter, compared to the consensus estimate of $19.68 million. The company’s quarterly revenue was down 48.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.40) EPS. As a group, sell-side analysts anticipate that Intellia Therapeutics, Inc. will post -5.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NTLA. The Goldman Sachs Group decreased their target price on shares of Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Stifel Nicolaus cut their price target on shares of Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Citigroup cut their price target on shares of Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Chardan Capital cut their price target on shares of Intellia Therapeutics from $94.00 to $88.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Finally, Evercore ISI upgraded shares of Intellia Therapeutics to a “strong-buy” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.13.

Insider Activity at Intellia Therapeutics

In related news, CAO Michael P. Dube sold 2,012 shares of the company’s 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 sale, the chief accounting officer now directly owns 47,012 shares in the company, valued at approximately $893,698.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.20% of the stock is currently owned by corporate insiders.

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.