Shell Asset Management Co. Increases Stake in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Shell Asset Management Co. grew its stake in Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 45.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 29,975 shares of the company’s stock after buying an additional 9,403 shares during the quarter. Shell Asset Management Co.’s holdings in Intellia Therapeutics were worth $350,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sterling Capital Management LLC boosted its stake in shares of Intellia Therapeutics by 866.2% in the 4th quarter. Sterling Capital Management LLC now owns 3,198 shares of the company’s stock valued at $37,000 after buying an additional 2,867 shares during the period. Whipplewood Advisors LLC acquired a new stake in shares of Intellia Therapeutics during the 4th quarter worth about $40,000. Resona Asset Management Co. Ltd. acquired a new stake in shares of Intellia Therapeutics during the 4th quarter worth about $43,000. Jones Financial Companies Lllp raised its position in shares of Intellia Therapeutics by 140.9% during the 4th quarter. Jones Financial Companies Lllp now owns 3,898 shares of the company’s stock worth $45,000 after acquiring an additional 2,280 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Intellia Therapeutics by 80.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 5,151 shares of the company’s stock worth $60,000 after acquiring an additional 2,299 shares in the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Intellia Therapeutics Trading Up 5.3%

NASDAQ:NTLA opened at $8.50 on Monday. The firm has a market cap of $880.46 million, a P/E ratio of -1.56 and a beta of 2.33. The stock’s 50 day simple moving average is $7.99 and its 200-day simple moving average is $10.75. Intellia Therapeutics, Inc. has a 12-month low of $5.90 and a 12-month high of $28.18.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings results on Thursday, May 8th. The company reported ($1.10) EPS for the quarter, topping the consensus estimate of ($1.26) by $0.16. The company had revenue of $16.63 million for the quarter, compared to analysts’ expectations of $11.39 million. During the same quarter last year, the company earned ($1.12) EPS. Intellia Therapeutics’s revenue for the quarter was down 42.6% compared to the same quarter last year. Research analysts forecast that Intellia Therapeutics, Inc. will post -5.07 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NTLA. Wells Fargo & Company cut their target price on Intellia Therapeutics from $60.00 to $50.00 and set an “overweight” rating on the stock in a research 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 research report on Tuesday, March 4th. Citigroup cut their target price on Intellia Therapeutics from $14.00 to $10.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. HC Wainwright began coverage on Intellia Therapeutics in a research report on Wednesday, March 5th. They set a “buy” rating and a $30.00 target price on the stock. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $9.00 target price on shares of Intellia Therapeutics in a research report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.90.

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.