Bank of America Corp DE Trims Holdings in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Bank of America Corp DE cut its stake in Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 10.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 639,696 shares of the company’s stock after selling 76,495 shares during the period. Bank of America Corp DE owned 0.63% of Intellia Therapeutics worth $7,459,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in NTLA. Sterling Capital Management LLC raised its stake in Intellia Therapeutics by 866.2% during the fourth quarter. Sterling Capital Management LLC now owns 3,198 shares of the company’s stock valued at $37,000 after buying an additional 2,867 shares during the last quarter. Whipplewood Advisors LLC purchased a new stake in shares of Intellia Therapeutics during the 4th quarter valued at about $40,000. Resona Asset Management Co. Ltd. purchased a new position in shares of Intellia Therapeutics during the 4th quarter worth $43,000. Jones Financial Companies Lllp grew its holdings in Intellia Therapeutics by 140.9% during the fourth quarter. Jones Financial Companies Lllp now owns 3,898 shares of the company’s stock valued at $45,000 after purchasing an additional 2,280 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in Intellia Therapeutics by 80.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 5,151 shares of the company’s stock valued at $60,000 after purchasing an additional 2,299 shares in the last quarter. Institutional investors own 88.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on NTLA shares. Wall Street Zen raised Intellia Therapeutics to a “sell” rating in a report on Monday, March 3rd. Truist Financial cut their price objective on shares of Intellia Therapeutics from $90.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Barclays cut their price objective on Intellia Therapeutics from $55.00 to $26.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Intellia Therapeutics in a research note on Tuesday, May 20th. Finally, Citigroup lowered their price target on shares of Intellia Therapeutics from $14.00 to $10.00 and set a “neutral” rating for the company in a research report on Friday, May 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.90.

Intellia Therapeutics Stock Down 3.2%

Shares of NASDAQ NTLA opened at $9.16 on Monday. The firm has a market cap of $948.82 million, a P/E ratio of -1.68 and a beta of 2.33. Intellia Therapeutics, Inc. has a 52 week low of $5.90 and a 52 week high of $28.18. The business’s 50 day moving average price is $7.98 and its 200 day moving average price is $10.51.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($1.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.26) by $0.16. The company had revenue of $16.63 million during the quarter, compared to analyst estimates of $11.39 million. The company’s revenue was down 42.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.12) earnings per share. As a group, research analysts expect that Intellia Therapeutics, Inc. will post -5.07 earnings per share for the current year.

Intellia Therapeutics 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.