Raymond James Financial Inc. Takes Position in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Raymond James Financial Inc. purchased a new stake in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 411,077 shares of the company’s stock, valued at approximately $4,793,000. Raymond James Financial Inc. owned about 0.40% of Intellia Therapeutics at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in NTLA. Intech Investment Management LLC bought a new position in shares of Intellia Therapeutics in the 3rd quarter valued at $580,000. Charles Schwab Investment Management Inc. increased its holdings in Intellia Therapeutics by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 827,545 shares of the company’s stock worth $17,006,000 after purchasing an additional 37,714 shares in the last quarter. D.A. Davidson & CO. raised its position in Intellia Therapeutics by 34.3% in the third quarter. D.A. Davidson & CO. now owns 16,250 shares of the company’s stock valued at $334,000 after purchasing an additional 4,150 shares during the last quarter. FMR LLC raised its position in Intellia Therapeutics by 5.0% in the third quarter. FMR LLC now owns 2,339,522 shares of the company’s stock valued at $48,077,000 after purchasing an additional 111,104 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Intellia Therapeutics by 88.0% during the third quarter. BNP Paribas Financial Markets now owns 246,362 shares of the company’s stock valued at $5,063,000 after purchasing an additional 115,351 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO John M. Leonard sold 26,807 shares of Intellia Therapeutics stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $12.18, for a total transaction of $326,509.26. Following the transaction, the chief executive officer now owns 941,115 shares of the company’s stock, valued at $11,462,780.70. The trade was a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, 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 6.2 %

Shares of NTLA opened at $8.73 on Wednesday. The business’s fifty day moving average is $10.05 and its 200 day moving average is $13.97. Intellia Therapeutics, Inc. has a 12-month low of $8.30 and a 12-month high of $28.23. The stock has a market cap of $903.70 million, a P/E ratio of -1.60 and a beta of 1.97.

Analysts Set New Price Targets

Several equities research analysts recently commented on NTLA shares. BMO Capital Markets cut their target price on shares of Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Barclays cut their price target on shares of Intellia Therapeutics from $55.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $13.00 price objective (down from $45.00) on shares of Intellia Therapeutics in a report on Friday, February 28th. Truist Financial cut their target price on Intellia Therapeutics from $90.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Finally, Chardan Capital decreased their price target on Intellia Therapeutics from $91.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Intellia Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $37.56.

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.