Baker BROS. Advisors LP Purchases New Shares in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Baker BROS. Advisors LP bought a new stake in Intellia Therapeutics, Inc. (NASDAQ:NTLA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 644,116 shares of the company’s stock, valued at approximately $7,510,000. Baker BROS. Advisors LP owned approximately 0.63% of Intellia Therapeutics as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Regeneron Pharmaceuticals Inc. acquired a new stake in shares of Intellia Therapeutics in the 4th quarter valued at about $43,177,000. Contrarius Group Holdings Ltd acquired a new stake in Intellia Therapeutics during the fourth quarter valued at approximately $11,798,000. Trexquant Investment LP acquired a new stake in Intellia Therapeutics during the fourth quarter valued at approximately $7,785,000. Vanguard Group Inc. grew its position in shares of Intellia Therapeutics by 5.8% in the 4th quarter. Vanguard Group Inc. now owns 10,190,053 shares of the company’s stock worth $118,816,000 after acquiring an additional 562,249 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Intellia Therapeutics by 36.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,976,212 shares of the company’s stock valued at $23,042,000 after acquiring an additional 528,962 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. StockNews.com upgraded shares of Intellia Therapeutics to a “sell” rating in a research note on Monday, March 3rd. Morgan Stanley downgraded shares of Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $56.00 to $11.00 in a research report on Monday, January 27th. Wells Fargo & Company cut their target price on shares of Intellia Therapeutics from $60.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Wedbush reaffirmed a “neutral” rating and set a $10.00 target price (down from $14.00) on shares of Intellia Therapeutics in a report on Friday, January 10th. Finally, Truist Financial cut their price target on Intellia Therapeutics from $90.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.68.

Intellia Therapeutics Stock Up 2.3 %

Shares of NTLA stock opened at $8.84 on Friday. The stock has a 50-day simple moving average of $8.35 and a 200 day simple moving average of $11.45. Intellia Therapeutics, Inc. has a fifty-two week low of $5.90 and a fifty-two week high of $28.18. The stock has a market capitalization of $915.67 million, a P/E ratio of -1.62 and a beta of 2.33.

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.