Sit Investment Associates Inc. Acquires 25,600 Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Sit Investment Associates Inc. increased its holdings in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 42.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 85,500 shares of the company’s stock after purchasing an additional 25,600 shares during the quarter. Sit Investment Associates Inc. owned 0.08% of Intellia Therapeutics worth $997,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Regeneron Pharmaceuticals Inc. acquired a new stake in shares of Intellia Therapeutics in the 4th quarter valued at about $43,177,000. Contrarius Group Holdings Ltd bought a new stake in Intellia Therapeutics in the 4th quarter valued at approximately $11,798,000. State Street Corp boosted its position in Intellia Therapeutics by 17.9% during the 3rd quarter. State Street Corp now owns 5,143,534 shares of the company’s stock worth $105,700,000 after acquiring an additional 780,754 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Intellia Therapeutics during the 4th quarter worth approximately $7,785,000. Finally, Vanguard Group Inc. raised its holdings in shares of Intellia Therapeutics by 5.8% in the fourth quarter. Vanguard Group Inc. now owns 10,190,053 shares of the company’s stock valued at $118,816,000 after purchasing an additional 562,249 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Intellia Therapeutics Trading Down 3.8 %

Intellia Therapeutics stock opened at $6.63 on Monday. The company has a market capitalization of $686.32 million, a price-to-earnings ratio of -1.22 and a beta of 2.23. Intellia Therapeutics, Inc. has a 12 month low of $5.98 and a 12 month high of $28.18. The stock’s 50 day moving average is $9.61 and its 200-day moving average is $13.20.

Wall Street Analysts Forecast Growth

NTLA has been the subject of several recent research reports. JPMorgan Chase & Co. restated a “neutral” rating and set a $13.00 target price (down previously from $45.00) on shares of Intellia Therapeutics in a report on Friday, February 28th. HC Wainwright assumed coverage on Intellia Therapeutics in a research report on Wednesday, March 5th. They issued a “buy” rating and a $30.00 target price on the stock. Oppenheimer dropped their target price on Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Wells Fargo & Company decreased their price target on Intellia Therapeutics from $60.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Finally, BMO Capital Markets dropped their price objective on Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.56.

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.