Amova Asset Management Americas Inc. Reduces Stake in Intellia Therapeutics, Inc. $NTLA

Amova Asset Management Americas Inc. cut its position in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 10.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,973,061 shares of the company’s stock after selling 219,400 shares during the quarter. Amova Asset Management Americas Inc. owned 1.64% of Intellia Therapeutics worth $25,275,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NTLA. ARK Investment Management LLC grew its stake in Intellia Therapeutics by 19.2% in the 4th quarter. ARK Investment Management LLC now owns 14,207,324 shares of the company’s stock valued at $127,724,000 after acquiring an additional 2,288,146 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Intellia Therapeutics by 17.8% in the fourth quarter. Vanguard Group Inc. now owns 13,010,001 shares of the company’s stock valued at $116,960,000 after purchasing an additional 1,965,181 shares during the last quarter. State Street Corp grew its position in shares of Intellia Therapeutics by 29.1% in the fourth quarter. State Street Corp now owns 6,418,836 shares of the company’s stock valued at $57,705,000 after purchasing an additional 1,447,967 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Intellia Therapeutics by 4.1% during the 4th quarter. Geode Capital Management LLC now owns 2,696,187 shares of the company’s stock worth $24,243,000 after purchasing an additional 107,333 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake in shares of Intellia Therapeutics by 7.6% during the 3rd quarter. Two Sigma Investments LP now owns 2,449,607 shares of the company’s stock worth $42,305,000 after purchasing an additional 173,033 shares in the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NTLA. The Goldman Sachs Group upped their target price on Intellia Therapeutics from $8.00 to $9.00 and gave the company a “sell” rating in a research note on Tuesday, April 28th. HC Wainwright reissued a “buy” rating and set a $25.00 price target on shares of Intellia Therapeutics in a research report on Monday, June 15th. Wedbush boosted their price target on Intellia Therapeutics from $12.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. Wolfe Research downgraded Intellia Therapeutics from a “peer perform” rating to an “underperform” rating and set a $9.00 price objective on the stock. in a research report on Wednesday, July 15th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Intellia Therapeutics in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $20.19.

Insider Transactions at Intellia Therapeutics

In other news, CAO Michael P. Dube sold 2,641 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $16.78, for a total transaction of $44,315.98. Following the completion of the sale, the chief accounting officer directly owned 66,886 shares in the company, valued at $1,122,347.08. This represents a 3.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Edward J. Dulac III sold 4,677 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $18.00, for a total value of $84,186.00. Following the completion of the transaction, the executive vice president directly owned 156,286 shares in the company, valued at $2,813,148. This trade represents a 2.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 3.50% of the company’s stock.

Intellia Therapeutics Stock Down 4.0%

Shares of NASDAQ:NTLA opened at $10.92 on Tuesday. The company has a market cap of $1.53 billion, a P/E ratio of -3.08 and a beta of 1.77. Intellia Therapeutics, Inc. has a 52 week low of $7.95 and a 52 week high of $28.25. The business has a fifty day simple moving average of $14.22 and a 200-day simple moving average of $13.44.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Monday, May 11th. The company reported ($0.81) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.11. Intellia Therapeutics had a negative return on equity of 57.47% and a negative net margin of 597.04%.The firm had revenue of $15.05 million during the quarter, compared to analyst estimates of $13.81 million. During the same period in the prior year, the firm posted ($1.10) earnings per share. Sell-side analysts expect that Intellia Therapeutics, Inc. will post -3.18 earnings per share for the current fiscal year.

Intellia Therapeutics Profile

Intellia Therapeutics, Inc (NASDAQ: NTLA) is a clinical‐stage biotechnology company focused on developing potentially curative genome editing therapies using the CRISPR/Cas9 platform. The company’s research spans both in vivo and ex vivo applications of CRISPR/Cas9, aiming to correct or disable disease‐causing genes with a single administration. Intellia’s lead in vivo program targets transthyretin amyloidosis (ATTR) by delivering CRISPR/Cas9 machinery directly to the liver, while additional preclinical efforts pursue treatments for hemophilia A, hereditary angioedema and other genetic disorders.

Beyond its in vivo pipeline, Intellia collaborates with strategic partners to extend the impact of its genome editing approach.