Jennison Associates LLC Acquires 8,497 Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Jennison Associates LLC raised its holdings in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 21.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 47,899 shares of the company’s stock after purchasing an additional 8,497 shares during the quarter. Jennison Associates LLC’s holdings in Intellia Therapeutics were worth $984,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ARK Investment Management LLC grew its stake in shares of Intellia Therapeutics by 5.7% during the third quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock worth $251,849,000 after purchasing an additional 659,651 shares during the period. Vanguard Group Inc. increased its stake in shares of Intellia Therapeutics by 8.9% in the 1st 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. Federated Hermes Inc. raised its position in shares of Intellia Therapeutics by 19.2% in the 2nd 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 during the period. Dimensional Fund Advisors LP raised its position in shares of Intellia Therapeutics by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,324,561 shares of the company’s stock valued at $29,648,000 after acquiring an additional 98,865 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Intellia Therapeutics by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 364,306 shares of the company’s stock worth $8,153,000 after acquiring an additional 2,301 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

Wall Street Analysts Forecast Growth

NTLA has been the topic of several analyst reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $90.00 target price on shares of Intellia Therapeutics in a report on Tuesday, November 19th. Wells Fargo & Company reduced their target price on Intellia Therapeutics from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. JPMorgan Chase & Co. lowered their price target on Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating for the company in a report on Monday, August 12th. Chardan Capital lifted their price objective on Intellia Therapeutics from $88.00 to $91.00 and gave the company a “buy” rating in a report on Monday, November 18th. Finally, StockNews.com upgraded shares of Intellia Therapeutics to a “sell” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.94.

Intellia Therapeutics Price Performance

Shares of NASDAQ:NTLA opened at $14.30 on Friday. The company’s 50-day moving average price is $17.97 and its two-hundred day moving average price is $21.73. Intellia Therapeutics, Inc. has a one year low of $12.82 and a one year high of $34.87. The stock has a market capitalization of $1.46 billion, a PE ratio of -2.63 and a beta of 1.81.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the company posted ($1.38) EPS. The business’s revenue was down 24.1% on a year-over-year basis. On average, analysts anticipate that Intellia Therapeutics, Inc. will post -5.13 earnings per share for the current fiscal year.

Insider Transactions at Intellia Therapeutics

In related news, CAO Michael P. Dube sold 2,012 shares of the business’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 transaction, the chief accounting officer now directly owns 47,012 shares in the company, valued at approximately $893,698.12. The trade was a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.20% of the company’s stock.

Intellia Therapeutics 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.