Wellington Management Group LLP Reduces Position in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Wellington Management Group LLP decreased its holdings in Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 17.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 644,763 shares of the company’s stock after selling 137,011 shares during the period. Wellington Management Group LLP’s holdings in Intellia Therapeutics were worth $13,250,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Blue Trust Inc. grew its stake in Intellia Therapeutics by 1,664.3% in the 2nd quarter. Blue Trust Inc. now owns 1,482 shares of the company’s stock valued at $33,000 after buying an additional 1,398 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Intellia Therapeutics by 763.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock worth $39,000 after acquiring an additional 1,550 shares during the period. Eastern Bank purchased a new position in shares of Intellia Therapeutics in the third quarter valued at $41,000. First Horizon Advisors Inc. raised its stake in shares of Intellia Therapeutics by 22.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company’s stock valued at $58,000 after purchasing an additional 472 shares during the period. Finally, Values First Advisors Inc. purchased a new stake in Intellia Therapeutics during the 3rd quarter worth about $54,000. Institutional investors own 88.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NTLA shares. Wedbush reaffirmed a “neutral” rating and set a $14.00 target price on shares of Intellia Therapeutics in a report on Monday, November 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $54.00 target price on shares of Intellia Therapeutics in a report on Thursday, September 19th. Canaccord Genuity Group reissued a “buy” rating and issued a $90.00 price target on shares of Intellia Therapeutics in a report on Tuesday, November 19th. The Goldman Sachs Group decreased their price target on shares of Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Finally, Stifel Nicolaus reduced their target price on Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Intellia Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.94.

Insider Transactions at Intellia Therapeutics

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 stock was 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 $893,698.12. This trade represents a 4.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.20% of the company’s stock.

Intellia Therapeutics Price Performance

Shares of NASDAQ NTLA opened at $12.90 on Friday. The stock has a market capitalization of $1.31 billion, a P/E ratio of -2.37 and a beta of 1.76. Intellia Therapeutics, Inc. has a one year low of $12.47 and a one year high of $34.87. The firm’s 50 day simple moving average is $16.13 and its two-hundred day simple moving average is $20.60.

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