Insider Selling: Intellia Therapeutics (NASDAQ:NTLA) CAO Sells $44,315.98 in Stock

Intellia Therapeutics, Inc. (NASDAQ:NTLA) CAO Michael Dube sold 2,641 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $16.78, for a total value of $44,315.98. Following the transaction, the chief accounting officer directly owned 66,886 shares of the company’s stock, valued at approximately $1,122,347.08. The trade was a 3.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Intellia Therapeutics Stock Performance

NASDAQ NTLA opened at $16.84 on Thursday. Intellia Therapeutics, Inc. has a fifty-two week low of $7.95 and a fifty-two week high of $28.25. The stock has a market cap of $2.35 billion, a PE ratio of -4.76 and a beta of 1.77. The firm’s fifty day moving average price is $14.32 and its two-hundred day moving average price is $13.25.

Intellia Therapeutics (NASDAQ:NTLA) last posted its earnings results on Monday, May 11th. The company reported ($0.81) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.11. Intellia Therapeutics had a negative return on equity of 57.47% and a negative net margin of 597.04%.The firm had revenue of $15.05 million during the quarter, compared to the consensus estimate of $13.81 million. During the same period last year, the company earned ($1.10) earnings per share. As a group, sell-side analysts predict that Intellia Therapeutics, Inc. will post -3.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NTLA has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intellia Therapeutics in a research report on Tuesday, April 21st. Citigroup reiterated a “market outperform” rating on shares of Intellia Therapeutics in a report on Monday, June 15th. Sanford C. Bernstein boosted their price objective on Intellia Therapeutics from $13.00 to $17.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Morgan Stanley increased their target price on shares of Intellia Therapeutics from $11.00 to $15.00 and gave the company an “equal weight” rating in a report on Monday, April 27th. Finally, Wedbush reaffirmed a “neutral” rating and set a $12.00 price target on shares of Intellia Therapeutics in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Intellia Therapeutics has an average rating of “Hold” and an average target price of $20.46.

Institutional Trading of Intellia Therapeutics

Several hedge funds have recently made changes to their positions in NTLA. ARK Investment Management LLC increased its holdings in Intellia Therapeutics by 19.2% in the 4th quarter. ARK Investment Management LLC now owns 14,207,324 shares of the company’s stock worth $127,724,000 after acquiring an additional 2,288,146 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Intellia Therapeutics by 17.8% during the fourth quarter. Vanguard Group Inc. now owns 13,010,001 shares of the company’s stock valued at $116,960,000 after purchasing an additional 1,965,181 shares during the last quarter. State Street Corp lifted its holdings in Intellia Therapeutics by 29.1% during the fourth quarter. State Street Corp now owns 6,418,836 shares of the company’s stock valued at $57,705,000 after purchasing an additional 1,447,967 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Intellia Therapeutics during the first quarter worth about $17,913,000. Finally, Renaissance Technologies LLC increased its stake in shares of Intellia Therapeutics by 156.9% in the fourth quarter. Renaissance Technologies LLC now owns 1,672,700 shares of the company’s stock worth $15,038,000 after purchasing an additional 1,021,700 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors.

About Intellia Therapeutics

Intellia Therapeutics, Inc (NASDAQ: NTLA) is a clinical‐stage biotechnology company focused on developing potentially curative genome editing therapies using the CRISPR/Cas9 platform. The company’s research spans both in vivo and ex vivo applications of CRISPR/Cas9, aiming to correct or disable disease‐causing genes with a single administration. Intellia’s lead in vivo program targets transthyretin amyloidosis (ATTR) by delivering CRISPR/Cas9 machinery directly to the liver, while additional preclinical efforts pursue treatments for hemophilia A, hereditary angioedema and other genetic disorders.

Beyond its in vivo pipeline, Intellia collaborates with strategic partners to extend the impact of its genome editing approach.