Charles Schwab Investment Management Inc. Trims Stake in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Charles Schwab Investment Management Inc. reduced its position in Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 4.8% in the 4th quarter, Holdings Channel reports. The firm owned 787,490 shares of the company’s stock after selling 40,055 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Intellia Therapeutics were worth $9,182,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Whipplewood Advisors LLC purchased a new stake in shares of Intellia Therapeutics in the 4th quarter valued at about $40,000. KBC Group NV increased its position in Intellia Therapeutics by 37.3% in the 3rd quarter. KBC Group NV now owns 3,753 shares of the company’s stock valued at $77,000 after acquiring an additional 1,020 shares during the period. Jones Financial Companies Lllp increased its position in Intellia Therapeutics by 140.9% in the 4th quarter. Jones Financial Companies Lllp now owns 3,898 shares of the company’s stock valued at $45,000 after acquiring an additional 2,280 shares during the period. Point72 DIFC Ltd acquired a new position in Intellia Therapeutics in the 3rd quarter valued at about $151,000. Finally, AdvisorNet Financial Inc increased its position in Intellia Therapeutics by 96.4% in the 4th quarter. AdvisorNet Financial Inc now owns 10,085 shares of the company’s stock valued at $118,000 after acquiring an additional 4,950 shares during the period. 88.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intellia Therapeutics

In related news, CEO John M. Leonard sold 26,807 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $12.18, for a total value of $326,509.26. Following the sale, the chief executive officer now owns 941,115 shares of the company’s stock, valued at approximately $11,462,780.70. This represents a 2.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 29,000 shares of company stock valued at $352,551 in the last quarter. 3.20% of the stock is currently owned by corporate insiders.

Intellia Therapeutics Price Performance

Shares of NASDAQ:NTLA opened at $9.00 on Friday. The business’s 50 day simple moving average is $10.09 and its 200-day simple moving average is $14.18. The firm has a market capitalization of $931.65 million, a price-to-earnings ratio of -1.65 and a beta of 1.97. Intellia Therapeutics, Inc. has a 12 month low of $8.30 and a 12 month high of $28.23.

Analysts Set New Price Targets

Several brokerages recently issued reports on NTLA. StockNews.com upgraded Intellia Therapeutics to a “sell” rating in a research report on Monday, March 3rd. BMO Capital Markets dropped their price target on Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Wedbush restated a “neutral” rating and issued a $10.00 price target (down previously from $14.00) on shares of Intellia Therapeutics in a research report on Friday, January 10th. Truist Financial dropped their price target on Intellia Therapeutics from $90.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Finally, Oppenheimer dropped their target price on Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Intellia Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $37.56.

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.