JPMorgan Chase & Co. Sells 20,051 Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA)

JPMorgan Chase & Co. lessened its stake in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 3.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 649,054 shares of the company’s stock after selling 20,051 shares during the quarter. JPMorgan Chase & Co. owned about 0.64% of Intellia Therapeutics worth $13,338,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Elmwood Wealth Management Inc. boosted its position in Intellia Therapeutics by 0.9% during the third quarter. Elmwood Wealth Management Inc. now owns 67,774 shares of the company’s stock worth $1,393,000 after purchasing an additional 600 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Intellia Therapeutics by 27.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock worth $77,000 after buying an additional 794 shares during the period. Capstone Investment Advisors LLC grew its stake in Intellia Therapeutics by 1.4% in the 3rd quarter. Capstone Investment Advisors LLC now owns 61,129 shares of the company’s stock valued at $1,256,000 after buying an additional 831 shares during the last quarter. KBC Group NV raised its holdings in Intellia Therapeutics by 37.3% in the 3rd quarter. KBC Group NV now owns 3,753 shares of the company’s stock worth $77,000 after acquiring an additional 1,020 shares during the period. Finally, Axxcess Wealth Management LLC raised its holdings in Intellia Therapeutics by 5.4% in the 3rd quarter. Axxcess Wealth Management LLC now owns 20,215 shares of the company’s stock worth $415,000 after acquiring an additional 1,044 shares during the period. Institutional investors and hedge funds own 88.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NTLA. Chardan Capital raised their price target on Intellia Therapeutics from $88.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, November 18th. StockNews.com raised Intellia Therapeutics to a “sell” rating in a report on Friday, November 8th. Oppenheimer cut their price target on Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Canaccord Genuity Group restated a “buy” rating and issued a $90.00 price objective on shares of Intellia Therapeutics in a research note on Tuesday, November 19th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $54.00 target price on shares of Intellia Therapeutics in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Intellia Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $52.81.

Insider Buying and Selling at Intellia Therapeutics

In other news, CEO John M. Leonard sold 26,807 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $12.18, for a total transaction of $326,509.26. Following the completion of the sale, the chief executive officer now owns 941,115 shares of the company’s stock, valued at approximately $11,462,780.70. This trade represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 28,735 shares of company stock worth $349,909 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Intellia Therapeutics Price Performance

Intellia Therapeutics stock opened at $10.20 on Friday. The business has a 50 day simple moving average of $13.77 and a 200 day simple moving average of $18.96. The company has a market capitalization of $1.04 billion, a PE ratio of -1.87 and a beta of 1.83. Intellia Therapeutics, Inc. has a one year low of $9.93 and a one year high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.03. The company had revenue of $9.10 million for the quarter, compared to the consensus estimate of $8.28 million. During the same period in the previous year, the business posted ($1.38) earnings per share. The firm’s revenue was down 24.1% compared to the same quarter last year. Equities analysts anticipate that Intellia Therapeutics, Inc. will post -5.12 earnings per share for the current fiscal year.

Intellia Therapeutics Company 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.