ARK Investment Management LLC Purchases 659,651 Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA)

ARK Investment Management LLC lifted its position in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 5.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,255,440 shares of the company’s stock after purchasing an additional 659,651 shares during the period. Intellia Therapeutics accounts for approximately 2.3% of ARK Investment Management LLC’s portfolio, making the stock its 11th largest position. ARK Investment Management LLC owned 0.12% of Intellia Therapeutics worth $251,849,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NTLA. Vanguard Group Inc. lifted its holdings in Intellia Therapeutics by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock worth $250,168,000 after buying an additional 746,263 shares during the period. Federated Hermes Inc. raised its holdings in shares of Intellia Therapeutics by 19.2% during the second quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock valued at $51,494,000 after acquiring an additional 371,189 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in 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 acquiring an additional 98,865 shares during the period. Bank of New York Mellon Corp boosted its holdings in Intellia Therapeutics by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 364,306 shares of the company’s stock valued at $8,153,000 after acquiring an additional 2,301 shares in the last quarter. Finally, American Century Companies Inc. increased its position in Intellia Therapeutics by 23.8% during the 2nd quarter. American Century Companies Inc. now owns 330,514 shares of the company’s stock valued at $7,397,000 after purchasing an additional 63,550 shares during the period. 88.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NTLA has been the subject of several research analyst reports. The Goldman Sachs Group dropped their target price on shares of Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Stifel Nicolaus reduced their target price on Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Royal Bank of Canada restated an “outperform” rating and issued a $54.00 target price on shares of Intellia Therapeutics in a research note on Thursday, September 19th. Evercore ISI upgraded Intellia Therapeutics to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Wedbush reiterated a “neutral” rating and issued a $14.00 price objective on shares of Intellia Therapeutics in a report on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Intellia Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $58.13.

Insider Activity

In related news, CAO Michael P. Dube sold 2,012 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total value of $38,248.12. Following the sale, the chief accounting officer now owns 47,012 shares in the company, valued at approximately $893,698.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.20% of the stock is owned by corporate insiders.

Intellia Therapeutics Price Performance

NTLA stock opened at $16.00 on Friday. Intellia Therapeutics, Inc. has a 1-year low of $13.95 and a 1-year high of $34.87. The stock has a market capitalization of $1.63 billion, a P/E ratio of -2.92 and a beta of 1.81. The business has a fifty day moving average price of $19.28 and a 200-day moving average price of $22.25.

Intellia Therapeutics (NASDAQ:NTLA) last posted its earnings results on Thursday, August 8th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.29). The business had revenue of $7.00 million for the quarter, compared to analyst estimates of $19.68 million. During the same quarter in the prior year, the company earned ($1.40) EPS. The business’s revenue for the quarter was down 48.5% on a year-over-year basis. As a group, analysts anticipate that Intellia Therapeutics, Inc. will post -5.21 earnings per share for the current year.

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.