ARK Investment Management LLC Has $347.97 Million Position in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

ARK Investment Management LLC raised its stake in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 14.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 11,412,449 shares of the company’s stock after acquiring an additional 1,463,820 shares during the period. Intellia Therapeutics accounts for about 2.1% of ARK Investment Management LLC’s portfolio, making the stock its 16th biggest position. ARK Investment Management LLC owned about 0.13% of Intellia Therapeutics worth $347,966,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. BlackRock Inc. raised its stake in shares of Intellia Therapeutics by 9.6% during the 2nd quarter. BlackRock Inc. now owns 8,054,963 shares of the company’s stock worth $328,481,000 after purchasing an additional 706,344 shares during the period. Vanguard Group Inc. raised its stake in Intellia Therapeutics by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 6,617,323 shares of the company’s stock valued at $370,305,000 after acquiring an additional 108,041 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Intellia Therapeutics by 3.7% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,520,295 shares of the company’s stock valued at $111,312,000 after acquiring an additional 125,639 shares during the period. State Street Corp raised its stake in Intellia Therapeutics by 31.1% in the 2nd quarter. State Street Corp now owns 3,143,811 shares of the company’s stock valued at $162,724,000 after acquiring an additional 746,284 shares during the period. Finally, Morgan Stanley raised its stake in Intellia Therapeutics by 8.5% in the 3rd quarter. Morgan Stanley now owns 3,090,941 shares of the company’s stock valued at $97,736,000 after acquiring an additional 241,734 shares during the period. 88.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Canaccord Genuity Group boosted their price objective on Intellia Therapeutics from $72.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Wolfe Research assumed coverage on Intellia Therapeutics in a report on Thursday, February 15th. They set a “peer perform” rating for the company. The Goldman Sachs Group lowered Intellia Therapeutics from a “buy” rating to a “neutral” rating and reduced their target price for the company from $136.00 to $32.00 in a report on Friday, February 23rd. Finally, Wedbush reaffirmed a “neutral” rating and set a $29.00 target price on shares of Intellia Therapeutics in a report on Thursday, February 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.86.

Insider Buying and Selling at Intellia Therapeutics

In other Intellia Therapeutics news, EVP Laura Sepp-Lorenzino sold 2,275 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $28.87, for a total value of $65,679.25. Following the completion of the sale, the executive vice president now owns 43,927 shares in the company, valued at $1,268,172.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO John M. Leonard sold 19,223 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $29.46, for a total transaction of $566,309.58. Following the completion of the transaction, the chief executive officer now owns 846,486 shares in the company, valued at $24,937,477.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Laura Sepp-Lorenzino sold 2,275 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $28.87, for a total value of $65,679.25. Following the transaction, the executive vice president now owns 43,927 shares of the company’s stock, valued at approximately $1,268,172.49. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,003 shares of company stock worth $1,037,955. 3.00% of the stock is currently owned by insiders.

Intellia Therapeutics Price Performance

Shares of NTLA opened at $27.02 on Thursday. The firm has a market cap of $2.60 billion, a P/E ratio of -4.99 and a beta of 1.80. The stock has a 50 day simple moving average of $27.59 and a two-hundred day simple moving average of $28.93. Intellia Therapeutics, Inc. has a 1 year low of $22.67 and a 1 year high of $47.48.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) earnings per share for the quarter, beating the consensus estimate of ($1.47) by $0.01. Intellia Therapeutics had a negative return on equity of 43.91% and a negative net margin of 893.34%. The firm had revenue of ($1.92) million during the quarter, compared to the consensus estimate of $15.10 million. During the same quarter in the previous year, the company posted ($1.40) earnings per share. On average, equities analysts anticipate that Intellia Therapeutics, Inc. will post -5.58 earnings per share for the current 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.