Intellia Therapeutics Inc (NASDAQ:NTLA) shares gapped down before the market opened on Tuesday . The stock had previously closed at $25.40, but opened at $22.71. Intellia Therapeutics shares last traded at $20.03, with a volume of 3188700 shares trading hands.
A number of research analysts have recently commented on NTLA shares. Oppenheimer reaffirmed a “hold” rating on shares of Intellia Therapeutics in a research note on Tuesday, December 12th. Barclays reaffirmed a “buy” rating on shares of Intellia Therapeutics in a research note on Sunday, November 5th. Credit Suisse Group upped their target price on Intellia Therapeutics from $24.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Jefferies Group reaffirmed a “buy” rating and set a $36.00 target price on shares of Intellia Therapeutics in a research note on Tuesday, October 3rd. Finally, Zacks Investment Research raised Intellia Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $30.17.
The firm has a market cap of $853.48 and a P/E ratio of -13.01.
In related news, CEO Nessan Bermingham sold 111,500 shares of the stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $20.34, for a total value of $2,267,910.00. Following the transaction, the chief executive officer now owns 696,000 shares of the company’s stock, valued at $14,156,640. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Institutes For Biomed Novartis sold 1,523,000 shares of the stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $18.30, for a total value of $27,870,900.00. The disclosure for this sale can be found here. In the last three months, insiders sold 1,971,283 shares of company stock worth $37,137,161. 12.80% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in NTLA. GMT Capital Corp bought a new stake in Intellia Therapeutics during the 3rd quarter valued at $8,214,000. Ark Investment Management LLC boosted its position in Intellia Therapeutics by 118.9% during the 2nd quarter. Ark Investment Management LLC now owns 174,810 shares of the company’s stock valued at $2,797,000 after acquiring an additional 94,960 shares in the last quarter. Vanguard Group Inc. boosted its position in Intellia Therapeutics by 10.2% during the 2nd quarter. Vanguard Group Inc. now owns 997,288 shares of the company’s stock valued at $15,957,000 after acquiring an additional 92,580 shares in the last quarter. OxFORD Asset Management LLP bought a new stake in Intellia Therapeutics during the 2nd quarter valued at $1,132,000. Finally, GSA Capital Partners LLP bought a new stake in Intellia Therapeutics during the 2nd quarter valued at $907,000. 48.95% of the stock is currently owned by institutional investors and hedge funds.
About Intellia Therapeutics
Intellia Therapeutics, Inc is a genome editing company. The Company is focused on developing therapeutics utilizing a biological tool known as CRISPR/Cas9. The CRISPR/Cas9 genome editing system includes two components: the Cas9 protein and the guide RNA sequence. The Cas9 protein acts like a pair of molecular scissors that initiates the natural cellular repair process to knockout, repair or insert a gene.
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