IQ EQ FUND MANAGEMENT IRELAND Ltd Buys 31,626 Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA)

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 137.3% in the fourth quarter, Holdings Channel reports. The fund owned 54,657 shares of the company’s stock after acquiring an additional 31,626 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Intellia Therapeutics were worth $637,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Regeneron Pharmaceuticals Inc. acquired a new stake in shares of Intellia Therapeutics during the 4th quarter worth about $43,177,000. Contrarius Group Holdings Ltd bought a new stake in Intellia Therapeutics during the fourth quarter worth about $11,798,000. State Street Corp increased its holdings in shares of Intellia Therapeutics by 17.9% during the third quarter. State Street Corp now owns 5,143,534 shares of the company’s stock worth $105,700,000 after buying an additional 780,754 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Intellia Therapeutics by 5.8% in the fourth quarter. Vanguard Group Inc. now owns 10,190,053 shares of the company’s stock valued at $118,816,000 after acquiring an additional 562,249 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Intellia Therapeutics in the 4th quarter worth approximately $4,793,000. 88.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO John M. Leonard sold 26,807 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $12.18, for a total value of $326,509.26. Following the sale, the chief executive officer now directly owns 941,115 shares in the company, valued at $11,462,780.70. This trade represents a 2.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders have sold 29,000 shares of company stock worth $352,551. Insiders own 3.20% of the company’s stock.

Intellia Therapeutics Stock Down 3.9 %

NASDAQ:NTLA opened at $8.07 on Friday. Intellia Therapeutics, Inc. has a 12-month low of $8.03 and a 12-month high of $28.18. The stock’s fifty day simple moving average is $9.98 and its 200-day simple moving average is $13.81. The firm has a market capitalization of $835.38 million, a P/E ratio of -1.48 and a beta of 1.97.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Truist Financial dropped their price target on Intellia Therapeutics from $90.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. BMO Capital Markets lowered their target price on Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Wells Fargo & Company reduced their price target on shares of Intellia Therapeutics from $60.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Morgan Stanley cut shares of Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $56.00 to $11.00 in a research report on Monday, January 27th. Finally, Wedbush reiterated a “neutral” rating and set a $10.00 target price (down from $14.00) on shares of Intellia Therapeutics in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.56.

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.