Axxcess Wealth Management LLC Sells 3,413 Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Axxcess Wealth Management LLC lessened its stake in Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 16.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,802 shares of the company’s stock after selling 3,413 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Intellia Therapeutics were worth $196,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NTLA. KBC Group NV increased its holdings in shares of Intellia Therapeutics by 37.3% in the third quarter. KBC Group NV now owns 3,753 shares of the company’s stock worth $77,000 after acquiring an additional 1,020 shares in the last quarter. Quest Partners LLC increased its holdings in shares of Intellia Therapeutics by 181.6% in the third quarter. Quest Partners LLC now owns 19,748 shares of the company’s stock worth $406,000 after acquiring an additional 12,734 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Intellia Therapeutics by 21.6% in the third quarter. Jennison Associates LLC now owns 47,899 shares of the company’s stock worth $984,000 after acquiring an additional 8,497 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Intellia Therapeutics in the third quarter worth about $580,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Intellia Therapeutics by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 827,545 shares of the company’s stock worth $17,006,000 after acquiring an additional 37,714 shares in the last quarter. Institutional investors own 88.77% of the company’s stock.

Insider Activity

In other news, CEO John M. Leonard sold 26,807 shares of the firm’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 value of $326,509.26. Following the completion of the sale, the chief executive officer now directly owns 941,115 shares of the company’s stock, valued at $11,462,780.70. This trade represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 29,000 shares of company stock valued at $352,551 over the last three months. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

NTLA has been the subject of several recent analyst reports. Oppenheimer lowered their price target on Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Morgan Stanley cut Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $56.00 to $11.00 in a research report on Monday, January 27th. Truist Financial reduced their price objective on Intellia Therapeutics from $90.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Wedbush reaffirmed a “neutral” rating and set a $10.00 price objective (down from $14.00) on shares of Intellia Therapeutics in a research report on Friday, January 10th. Finally, Barclays reduced their price objective on Intellia Therapeutics from $55.00 to $26.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.56.

Intellia Therapeutics Stock Up 3.4 %

NTLA opened at $9.00 on Friday. Intellia Therapeutics, Inc. has a 12-month low of $8.30 and a 12-month high of $28.23. The stock has a market cap of $931.65 million, a price-to-earnings ratio of -1.65 and a beta of 1.97. The business has a 50 day moving average of $10.09 and a 200-day moving average of $14.18.

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.