Sumitomo Mitsui Trust Group Inc. Sells 108,290 Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 3.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,149,399 shares of the company’s stock after selling 108,290 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 3.10% of Intellia Therapeutics worth $64,720,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Intellia Therapeutics by 8.9% during the first quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock valued at $250,168,000 after acquiring an additional 746,263 shares during the last quarter. ARK Investment Management LLC grew its stake in shares of Intellia Therapeutics by 5.7% during the 3rd quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock valued at $251,849,000 after purchasing an additional 659,651 shares during the period. Federated Hermes Inc. increased its position in shares of Intellia Therapeutics by 19.2% during the 2nd quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock valued at $51,494,000 after purchasing an additional 371,189 shares during the last quarter. Opaleye Management Inc. lifted its stake in shares of Intellia Therapeutics by 157.6% in the 1st quarter. Opaleye Management Inc. now owns 255,000 shares of the company’s stock worth $7,015,000 after purchasing an additional 156,000 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Intellia Therapeutics by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,324,561 shares of the company’s stock worth $29,648,000 after buying an additional 98,865 shares during the last quarter. 88.77% of the stock is owned by institutional investors.

Intellia Therapeutics Stock Performance

NTLA stock opened at $15.12 on Friday. The company’s fifty day moving average price is $18.87 and its 200-day moving average price is $22.14. Intellia Therapeutics, Inc. has a one year low of $13.95 and a one year high of $34.87. The company has a market capitalization of $1.54 billion, a PE ratio of -2.91 and a beta of 1.81.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) EPS for the quarter, beating the consensus estimate 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 last year, the company earned ($1.38) EPS. The firm’s revenue for the quarter was down 24.1% on a year-over-year basis. On average, research analysts predict that Intellia Therapeutics, Inc. will post -5.13 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on NTLA shares. StockNews.com upgraded shares of Intellia Therapeutics to a “sell” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. lowered their target price on Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Robert W. Baird reduced their price target on Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Evercore ISI raised Intellia Therapeutics to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Citigroup cut their price objective on Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.36.

Insider Activity at Intellia Therapeutics

In related news, CAO Michael P. Dube sold 2,012 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total transaction of $38,248.12. Following the sale, the chief accounting officer now owns 47,012 shares of the company’s stock, valued at $893,698.12. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.20% of the stock is owned by corporate insiders.

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.