Raymond James Financial Inc. Acquires Shares of 411,077 Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Raymond James Financial Inc. bought a new position in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) during the fourth quarter, Holdings Channel reports. The firm bought 411,077 shares of the company’s stock, valued at approximately $4,793,000.

A number of other hedge funds also recently made changes to their positions in the business. Capstone Investment Advisors LLC grew its stake in Intellia Therapeutics by 1.4% in the 3rd quarter. Capstone Investment Advisors LLC now owns 61,129 shares of the company’s stock valued at $1,256,000 after buying an additional 831 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Intellia Therapeutics by 10.3% in the third quarter. Franklin Resources Inc. now owns 16,405 shares of the company’s stock worth $320,000 after acquiring an additional 1,538 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Intellia Therapeutics by 14.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,863 shares of the company’s stock valued at $157,000 after purchasing an additional 1,582 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Intellia Therapeutics by 6.1% during the 4th quarter. Arizona State Retirement System now owns 28,006 shares of the company’s stock valued at $327,000 after purchasing an additional 1,615 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of Intellia Therapeutics by 10.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 21,596 shares of the company’s stock valued at $252,000 after purchasing an additional 2,059 shares during the period. 88.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NTLA has been the subject of a number of recent analyst reports. Barclays reduced their target price on Intellia Therapeutics from $55.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Morgan Stanley cut shares of Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $56.00 to $11.00 in a research note on Monday, January 27th. Oppenheimer lowered their target price on shares of Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. StockNews.com upgraded shares of Intellia Therapeutics to a “sell” rating in a research report on Monday, March 3rd. Finally, Chardan Capital decreased their price target on shares of Intellia Therapeutics from $91.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Intellia Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $37.56.

Intellia Therapeutics Stock Performance

NASDAQ NTLA opened at $8.73 on Wednesday. Intellia Therapeutics, Inc. has a fifty-two week low of $8.30 and a fifty-two week high of $28.23. The stock has a market cap of $903.70 million, a P/E ratio of -1.60 and a beta of 1.97. The stock has a 50 day simple moving average of $10.05 and a two-hundred day simple moving average of $13.97.

Insiders Place Their Bets

In other Intellia Therapeutics 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 transaction of $326,509.26. Following the transaction, the chief executive officer now owns 941,115 shares in the company, valued at approximately $11,462,780.70. This represents a 2.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 29,000 shares of company stock worth $352,551. 3.20% of the stock is currently owned by corporate insiders.

Intellia Therapeutics Company 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.