Contrarius Group Holdings Ltd Makes New $11.80 Million Investment in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Contrarius Group Holdings Ltd bought a new stake in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,011,863 shares of the company’s stock, valued at approximately $11,798,000. Intellia Therapeutics accounts for about 0.7% of Contrarius Group Holdings Ltd’s investment portfolio, making the stock its 25th biggest position.

A number of other large investors have also recently made changes to their positions in NTLA. State Street Corp raised its holdings in shares of Intellia Therapeutics by 17.9% in the third quarter. State Street Corp now owns 5,143,534 shares of the company’s stock valued at $105,700,000 after acquiring an additional 780,754 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Intellia Therapeutics by 125.2% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 120,997 shares of the company’s stock valued at $1,411,000 after acquiring an additional 67,276 shares in the last quarter. Patient Square Capital LP purchased a new stake in Intellia Therapeutics in the third quarter valued at approximately $2,642,000. Charles Schwab Investment Management Inc. boosted its position in Intellia Therapeutics by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 827,545 shares of the company’s stock valued at $17,006,000 after buying an additional 37,714 shares during the last quarter. Finally, Avanza Fonder AB purchased a new stake in Intellia Therapeutics in the fourth quarter valued at approximately $421,000. 88.77% of the stock is owned by hedge funds and other institutional investors.

Intellia Therapeutics Price Performance

Shares of NTLA stock opened at $9.30 on Thursday. The business’s fifty day moving average price is $10.18 and its 200 day moving average price is $14.37. Intellia Therapeutics, Inc. has a 1-year low of $8.30 and a 1-year high of $28.54. The firm has a market capitalization of $962.71 million, a PE ratio of -1.71 and a beta of 1.97.

Analyst Ratings Changes

NTLA has been the topic of several recent research reports. Barclays lowered their price objective on Intellia Therapeutics from $55.00 to $26.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. BMO Capital Markets reduced their price objective on Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $13.00 price objective (down from $45.00) on shares of Intellia Therapeutics in a research note on Friday, February 28th. StockNews.com raised Intellia Therapeutics to a “sell” rating in a research note on Monday, March 3rd. Finally, Wedbush reiterated a “neutral” rating and set a $10.00 price target (down from $14.00) on shares of Intellia Therapeutics in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Intellia Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $37.56.

Insider Buying and Selling

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of the company’s stock in a transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 29,000 shares of company stock valued at $352,551 over the last quarter. 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.