Sumitomo Mitsui Trust Group Inc. Sells 108,290 Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Sumitomo Mitsui Trust Group Inc. decreased its stake in Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 3.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,149,399 shares of the company’s stock after selling 108,290 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Intellia Therapeutics were worth $64,720,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in Intellia Therapeutics by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,324,561 shares of the company’s stock worth $29,648,000 after buying an additional 98,865 shares during the period. Thrivent Financial for Lutherans purchased a new position in shares of Intellia Therapeutics during the 2nd quarter worth about $679,000. American Century Companies Inc. grew its holdings in Intellia Therapeutics by 23.8% during the 2nd quarter. American Century Companies Inc. now owns 330,514 shares of the company’s stock valued at $7,397,000 after purchasing an additional 63,550 shares during the last quarter. Comerica Bank raised its position in Intellia Therapeutics by 853.6% in the 1st quarter. Comerica Bank now owns 37,105 shares of the company’s stock worth $1,021,000 after purchasing an additional 33,214 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Intellia Therapeutics by 8.9% in the first quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock worth $250,168,000 after purchasing an additional 746,263 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

Analysts Set New Price Targets

NTLA has been the topic of a number of analyst reports. StockNews.com raised Intellia Therapeutics to a “sell” rating in a research note on Friday, November 8th. Oppenheimer reduced their target price on Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday. Royal Bank of Canada reiterated an “outperform” rating and set a $54.00 target price on shares of Intellia Therapeutics in a research report on Thursday, September 19th. Evercore ISI raised shares of Intellia Therapeutics to a “strong-buy” rating in a research note on Friday, August 9th. Finally, Barclays decreased their price objective on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.36.

Insider Buying and Selling at Intellia Therapeutics

In other news, CAO Michael P. Dube sold 2,012 shares of Intellia Therapeutics stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total value of $38,248.12. Following the transaction, the chief accounting officer now owns 47,012 shares of the company’s stock, valued at $893,698.12. The trade was a 4.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.20% of the stock is owned by insiders.

Intellia Therapeutics Stock Down 6.1 %

Shares of NTLA stock opened at $15.12 on Friday. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -2.91 and a beta of 1.81. Intellia Therapeutics, Inc. has a 52-week low of $13.95 and a 52-week high of $34.87. The company’s 50 day moving average is $18.87 and its 200 day moving average is $22.14.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.03. The company had revenue of $9.10 million during the quarter, compared to analysts’ expectations of $8.28 million. The company’s revenue was down 24.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.38) earnings per share. Analysts anticipate that Intellia Therapeutics, Inc. will post -5.13 EPS for the current fiscal year.

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.