Intellia Therapeutics, Inc. $NTLA Shares Bought by Canal Insurance CO

Canal Insurance CO boosted its stake in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 130.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 230,000 shares of the company’s stock after acquiring an additional 130,000 shares during the quarter. Canal Insurance CO’s holdings in Intellia Therapeutics were worth $2,949,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. increased its stake in shares of Intellia Therapeutics by 0.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 105,165 shares of the company’s stock valued at $945,000 after purchasing an additional 808 shares in the last quarter. Comerica Bank raised its position in shares of Intellia Therapeutics by 45.8% during the 4th quarter. Comerica Bank now owns 2,869 shares of the company’s stock worth $26,000 after purchasing an additional 901 shares during the last quarter. Benjamin Edwards Inc. raised its position in shares of Intellia Therapeutics by 1.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 63,034 shares of the company’s stock worth $591,000 after purchasing an additional 1,126 shares during the last quarter. Axxcess Wealth Management LLC raised its position in shares of Intellia Therapeutics by 6.1% during the 1st quarter. Axxcess Wealth Management LLC now owns 22,707 shares of the company’s stock worth $291,000 after purchasing an additional 1,308 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Intellia Therapeutics by 8.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 17,250 shares of the company’s stock valued at $159,000 after buying an additional 1,333 shares in the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Insider Activity at Intellia Therapeutics

In other news, CAO Michael P. Dube sold 2,641 shares of Intellia Therapeutics stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $16.78, for a total transaction of $44,315.98. Following the sale, the chief accounting officer owned 66,886 shares of the company’s stock, valued at approximately $1,122,347.08. The trade was a 3.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Edward J. Dulac III sold 4,677 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $18.00, for a total value of $84,186.00. Following the completion of the transaction, the executive vice president owned 156,286 shares in the company, valued at $2,813,148. This represents a 2.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NTLA has been the topic of several research analyst reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $49.00 price objective on shares of Intellia Therapeutics in a report on Tuesday, June 16th. Leerink Partners set a $35.00 target price on Intellia Therapeutics in a report on Monday, April 27th. Citigroup restated a “market outperform” rating on shares of Intellia Therapeutics in a research report on Monday, June 15th. New Street Research set a $25.00 price target on Intellia Therapeutics in a research report on Monday, June 15th. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $30.00 price objective on shares of Intellia Therapeutics in a research note on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $20.67.

Intellia Therapeutics Trading Down 8.4%

Intellia Therapeutics stock opened at $13.02 on Tuesday. The company has a 50-day moving average price of $14.40 and a 200 day moving average price of $13.35. Intellia Therapeutics, Inc. has a 12-month low of $7.95 and a 12-month high of $28.25. The stock has a market cap of $1.82 billion, a P/E ratio of -3.68 and a beta of 1.77.

Intellia Therapeutics (NASDAQ:NTLA) last posted its earnings results on Monday, May 11th. The company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.11. Intellia Therapeutics had a negative net margin of 597.04% and a negative return on equity of 57.47%. The company had revenue of $15.05 million for the quarter, compared to analyst estimates of $13.81 million. During the same period in the previous year, the business posted ($1.10) EPS. As a group, analysts forecast that Intellia Therapeutics, Inc. will post -3.18 EPS for the current year.

Intellia Therapeutics Profile

Intellia Therapeutics, Inc (NASDAQ: NTLA) is a clinical‐stage biotechnology company focused on developing potentially curative genome editing therapies using the CRISPR/Cas9 platform. The company’s research spans both in vivo and ex vivo applications of CRISPR/Cas9, aiming to correct or disable disease‐causing genes with a single administration. Intellia’s lead in vivo program targets transthyretin amyloidosis (ATTR) by delivering CRISPR/Cas9 machinery directly to the liver, while additional preclinical efforts pursue treatments for hemophilia A, hereditary angioedema and other genetic disorders.

Beyond its in vivo pipeline, Intellia collaborates with strategic partners to extend the impact of its genome editing approach.