JPMorgan Chase & Co. Boosts Position in Intellia Therapeutics, Inc. (NASDAQ:NTLA)
JPMorgan Chase & Co. raised its stake in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 44.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 617,824 shares of the company’s stock after buying an additional 189,628 shares during the quarter. JPMorgan Chase & Co. owned about 1.05% of Intellia Therapeutics worth $33,610,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Perigon Wealth Management LLC purchased a new position in Intellia Therapeutics during the 4th quarter valued at about $28,000. Sowell Financial Services LLC grew its holdings in Intellia Therapeutics by 147.3% during the 4th quarter. Sowell Financial Services LLC now owns 544 shares of the company’s stock valued at $30,000 after buying an additional 324 shares in the last quarter. Penserra Capital Management LLC grew its holdings in shares of Intellia Therapeutics by 170.8% during the fourth quarter. Penserra Capital Management LLC now owns 1,365 shares of the company’s stock worth $74,000 after purchasing an additional 861 shares in the last quarter. HN Saltoro Capital LP purchased a new position in shares of Intellia Therapeutics during the fourth quarter worth about $109,000. Finally, AllSquare Wealth Management LLC grew its holdings in shares of Intellia Therapeutics by 9.8% during the fourth quarter. AllSquare Wealth Management LLC now owns 2,066 shares of the company’s stock worth $112,000 after purchasing an additional 184 shares in the last quarter. 95.58% of the stock is owned by institutional investors and hedge funds.
NTLA has been the subject of several recent analyst reports. Zacks Investment Research raised Intellia Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, March 3rd. Robert W. Baird lowered Intellia Therapeutics from an “outperform” rating to a “neutral” rating and set a $60.00 price objective for the company. in a report on Tuesday, December 22nd. Chardan Capital boosted their target price on Intellia Therapeutics from $57.50 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, February 10th. JMP Securities started coverage on Intellia Therapeutics in a research report on Wednesday, March 10th. They issued an “outperform” rating and a $80.00 target price for the company. Finally, Barclays boosted their target price on Intellia Therapeutics from $46.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, January 8th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $56.85.
Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings results on Thursday, February 25th. The company reported ($0.69) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.57) by ($0.12). Intellia Therapeutics had a negative return on equity of 40.14% and a negative net margin of 193.01%. As a group, equities research analysts predict that Intellia Therapeutics, Inc. will post -2.27 earnings per share for the current year.
In other news, Director Caroline Dorsa sold 7,500 shares of the stock in a transaction on Monday, April 5th. The stock was sold at an average price of $82.19, for a total value of $616,425.00. Following the sale, the director now directly owns 12,910 shares of the company’s stock, valued at $1,061,072.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jose E. Rivera sold 50,455 shares of the stock in a transaction on Thursday, April 1st. The stock was sold at an average price of $82.46, for a total value of $4,160,519.30. Following the completion of the sale, the executive vice president now directly owns 148,842 shares in the company, valued at $12,273,511.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 892,987 shares of company stock worth $58,204,964. Insiders own 4.10% of the company’s stock.
Intellia Therapeutics Company Profile
Intellia Therapeutics, Inc, a genome editing company, focuses on the development of therapeutics. It utilizes a biological tool known as the Clustered, Regularly Interspaced Short Palindromic Repeats/CRISPR associated 9 (CRISPR/Cas9) system. The company's in vivo programs include NTLA-2001, which is in Phase 1 clinical trial for the treatment of transthyretin amyloidosis; and NTLA-2002 for the treatment of hereditary angioedema, as well as other liver-focused programs comprising hemophilia A and hemophilia B, hyperoxaluria Type 1, and alpha-1 antitrypsin deficiency.
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