Mirae Asset Global Investments Co. Ltd. Boosts Stake in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Mirae Asset Global Investments Co. Ltd. increased its position in Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 27.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,674 shares of the company’s stock after purchasing an additional 794 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Intellia Therapeutics were worth $77,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. ARK Investment Management LLC grew its position in shares of Intellia Therapeutics by 5.5% in the 2nd quarter. ARK Investment Management LLC now owns 11,595,789 shares of the company’s stock worth $259,514,000 after buying an additional 606,507 shares during the period. Vanguard Group Inc. boosted its position in shares of Intellia Therapeutics by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock worth $250,168,000 after purchasing an additional 746,263 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Intellia Therapeutics by 19.2% in the 2nd quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock worth $51,494,000 after buying an additional 371,189 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Intellia Therapeutics by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,324,561 shares of the company’s stock worth $29,648,000 after buying an additional 98,865 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC raised its stake in Intellia Therapeutics by 8.4% during the first quarter. Chevy Chase Trust Holdings LLC now owns 1,074,610 shares of the company’s stock valued at $29,563,000 after buying an additional 83,435 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors.

Intellia Therapeutics Stock Performance

NASDAQ:NTLA opened at $15.14 on Tuesday. The stock has a 50-day simple moving average of $19.70 and a two-hundred day simple moving average of $22.38. Intellia Therapeutics, Inc. has a 52-week low of $13.95 and a 52-week high of $34.87. The firm has a market capitalization of $1.54 billion, a PE ratio of -2.76 and a beta of 1.81.

Intellia Therapeutics (NASDAQ:NTLA) last released its 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 the consensus estimate of $19.68 million. The company’s revenue for the quarter was down 48.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.40) EPS. Equities analysts forecast that Intellia Therapeutics, Inc. will post -5.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NTLA. Chardan Capital reduced their price target on Intellia Therapeutics from $94.00 to $88.00 and set a “buy” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. decreased their target price on shares of Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating for the company in a report on Monday, August 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $54.00 target price on shares of Intellia Therapeutics in a research note on Thursday, September 19th. Evercore ISI raised shares of Intellia Therapeutics to a “strong-buy” rating in a research report on Friday, August 9th. Finally, The Goldman Sachs Group lowered their price objective on Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.13.

Insider Activity at Intellia Therapeutics

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,012 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $893,698.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.20% of the stock is owned by corporate 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.