Point72 DIFC Ltd Purchases New Stake in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Point72 DIFC Ltd purchased a new stake in Intellia Therapeutics, Inc. (NASDAQ:NTLA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,345 shares of the company’s stock, valued at approximately $151,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Patient Square Capital LP acquired a new stake in shares of Intellia Therapeutics in the third quarter valued at approximately $2,642,000. Dimensional Fund Advisors LP increased its stake in Intellia Therapeutics by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,324,561 shares of the company’s stock worth $29,648,000 after acquiring an additional 98,865 shares during the last quarter. Verition Fund Management LLC increased its stake in Intellia Therapeutics by 116.3% during the third quarter. Verition Fund Management LLC now owns 94,426 shares of the company’s stock worth $1,940,000 after acquiring an additional 50,763 shares during the last quarter. Thrivent Financial for Lutherans acquired a new stake in Intellia Therapeutics during the second quarter worth $679,000. Finally, American Century Companies Inc. increased its stake in Intellia Therapeutics by 23.8% during the second quarter. American Century Companies Inc. now owns 330,514 shares of the company’s stock worth $7,397,000 after acquiring an additional 63,550 shares during the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Oppenheimer cut their target price on Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Robert W. Baird cut their target price on Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Canaccord Genuity Group reissued a “buy” rating and set a $90.00 target price on shares of Intellia Therapeutics in a research note on Tuesday, November 19th. Wedbush reaffirmed a “neutral” rating and issued a $14.00 price objective on shares of Intellia Therapeutics in a research note on Monday, November 18th. Finally, William Blair reaffirmed a “neutral” rating and issued a $14.00 price objective on shares of Intellia Therapeutics in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.94.

Intellia Therapeutics Price Performance

Shares of NASDAQ NTLA opened at $14.72 on Friday. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -2.71 and a beta of 1.76. The business has a 50-day moving average of $16.61 and a two-hundred day moving average of $20.98. Intellia Therapeutics, Inc. has a 1 year low of $12.82 and a 1 year high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.03. The business had revenue of $9.10 million for the quarter, compared to analysts’ expectations of $8.28 million. The firm’s quarterly revenue was down 24.1% on a year-over-year basis. During the same period last year, the firm earned ($1.38) earnings per share. As a group, equities research analysts expect that Intellia Therapeutics, Inc. will post -5.12 earnings per share for the current year.

Insiders Place Their Bets

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,012 shares of Intellia Therapeutics stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total transaction of $38,248.12. Following the completion of the sale, the chief accounting officer now directly owns 47,012 shares of the company’s stock, valued at $893,698.12. The trade was a 4.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.20% of the stock is owned by company insiders.

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.