Intellia Therapeutics, Inc. (NASDAQ:NTLA) Stock Position Trimmed by Evolutionary Tree Capital Management LLC

Evolutionary Tree Capital Management LLC decreased its position in Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 1.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 36,262 shares of the company’s stock after selling 508 shares during the period. Evolutionary Tree Capital Management LLC’s holdings in Intellia Therapeutics were worth $812,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in NTLA. Avidity Partners Management LP boosted its position in shares of Intellia Therapeutics by 18.0% during the fourth quarter. Avidity Partners Management LP now owns 447,434 shares of the company’s stock worth $13,642,000 after buying an additional 68,334 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Intellia Therapeutics by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 700,228 shares of the company’s stock worth $21,350,000 after purchasing an additional 18,987 shares in the last quarter. Opaleye Management Inc. acquired a new position in shares of Intellia Therapeutics during the fourth quarter valued at $3,019,000. Vanguard Group Inc. increased its holdings in shares of Intellia Therapeutics by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 8,347,449 shares of the company’s stock valued at $254,514,000 after purchasing an additional 155,579 shares during the period. Finally, Comerica Bank raised its stake in shares of Intellia Therapeutics by 853.6% during the first quarter. Comerica Bank now owns 37,105 shares of the company’s stock valued at $1,021,000 after purchasing an additional 33,214 shares in the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on NTLA. JPMorgan Chase & Co. lowered their target price on shares of Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. Canaccord Genuity Group reissued a “buy” rating and set a $73.00 target price on shares of Intellia Therapeutics in a report on Thursday, June 27th. StockNews.com upgraded Intellia Therapeutics to a “sell” rating in a research report on Thursday, June 27th. Truist Financial reiterated a “buy” rating and set a $120.00 price target on shares of Intellia Therapeutics in a research report on Monday, June 24th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $54.00 price objective on shares of Intellia Therapeutics in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Intellia Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $61.77.

Intellia Therapeutics Trading Down 4.6 %

Shares of NTLA opened at $21.88 on Friday. The business’s 50-day moving average price is $23.26 and its 200 day moving average price is $24.12. The stock has a market capitalization of $2.11 billion, a P/E ratio of -4.08 and a beta of 1.77. Intellia Therapeutics, Inc. has a 1-year low of $19.21 and a 1-year high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.29). The firm had revenue of $7.00 million for the quarter, compared to analyst estimates of $19.68 million. During the same quarter in the prior year, the company earned ($1.40) EPS. Intellia Therapeutics’s revenue for the quarter was down 48.5% compared to the same quarter last year. On average, research analysts predict that Intellia Therapeutics, Inc. will post -5.19 earnings per share for the current year.

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.