Connor Clark & Lunn Investment Management Ltd. Makes New $15.21 Million Investment in Intellia Therapeutics, Inc. $NTLA

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Intellia Therapeutics, Inc. (NASDAQ:NTLA) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 898,963 shares of the company’s stock, valued at approximately $15,210,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.64% of Intellia Therapeutics as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Intellia Therapeutics during the second quarter valued at about $260,721,000. ARK Investment Management LLC lifted its stake in shares of Intellia Therapeutics by 19.2% in the 4th quarter. ARK Investment Management LLC now owns 14,207,324 shares of the company’s stock valued at $127,724,000 after acquiring an additional 2,288,146 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Intellia Therapeutics by 17.8% during the 4th quarter. Vanguard Group Inc. now owns 13,010,001 shares of the company’s stock valued at $116,960,000 after acquiring an additional 1,965,181 shares during the period. State Street Corp boosted its holdings in Intellia Therapeutics by 29.1% during the 4th quarter. State Street Corp now owns 6,418,836 shares of the company’s stock valued at $57,705,000 after acquiring an additional 1,447,967 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Intellia Therapeutics during the 1st quarter valued at about $17,913,000. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Intellia Therapeutics Price Performance

NASDAQ NTLA opened at $13.51 on Wednesday. Intellia Therapeutics, Inc. has a 1 year low of $7.95 and a 1 year high of $28.25. The stock has a market capitalization of $1.89 billion, a PE ratio of -4.02 and a beta of 1.81. The business’s 50-day moving average is $13.40 and its 200 day moving average is $13.36.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.80) EPS for the quarter, meeting analysts’ consensus estimates of ($0.80). Intellia Therapeutics had a negative return on equity of 57.79% and a negative net margin of 672.16%.The business had revenue of $7.66 million during the quarter, compared to analyst estimates of $12.98 million. During the same quarter in the prior year, the company posted ($0.98) EPS. Intellia Therapeutics’s quarterly revenue was down 46.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Intellia Therapeutics, Inc. will post -3.21 earnings per share for the current year.

Insider Activity at Intellia Therapeutics

In other news, CAO Michael P. Dube sold 2,641 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $16.78, for a total transaction of $44,315.98. Following the transaction, the chief accounting officer directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction, the executive vice president owned 156,286 shares of the company’s stock, valued at approximately $2,813,148. This represents a 2.91% decrease in their position. The SEC filing for this sale provides additional information. 3.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the company. New Street Research set a $25.00 price target on Intellia Therapeutics in a research note on Monday, June 15th. Evercore raised Intellia Therapeutics from a “hold” rating to an “outperform” rating and set a $24.00 price objective for the company in a research note on Friday, August 7th. Canaccord Genuity Group reissued a “buy” rating and set a $49.00 price objective on shares of Intellia Therapeutics in a research note on Tuesday, June 16th. Citizens Jmp restated a “market outperform” rating and issued a $30.00 target price on shares of Intellia Therapeutics in a report on Tuesday. Finally, Sanford C. Bernstein lifted their target price on shares of Intellia Therapeutics from $13.00 to $17.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $21.15.

Intellia Therapeutics Company 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.