Hennion & Walsh Asset Management Inc. Acquires 60,720 Shares of Intellia Therapeutics, Inc. $NTLA

Hennion & Walsh Asset Management Inc. boosted its stake in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 38.0% in the second quarter, HoldingsChannel reports. The firm owned 220,523 shares of the company’s stock after purchasing an additional 60,720 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Intellia Therapeutics were worth $3,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of NTLA. Headlands Technologies LLC bought a new position in shares of Intellia Therapeutics in the second quarter valued at about $26,000. Comerica Bank grew its stake in Intellia Therapeutics by 45.8% in the 4th quarter. Comerica Bank now owns 2,869 shares of the company’s stock valued at $26,000 after buying an additional 901 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Intellia Therapeutics in the 3rd quarter valued at about $30,000. Advisory Services Network LLC bought a new position in Intellia Therapeutics in the 3rd quarter valued at about $33,000. Finally, Fifth Third Bancorp acquired a new stake in Intellia Therapeutics during the first quarter worth approximately $38,000. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NTLA has been the subject of a number of research analyst reports. Evercore upgraded Intellia Therapeutics from a “hold” rating to an “outperform” rating and set a $24.00 price objective for the company in a report on Friday. Morgan Stanley lifted their price target on Intellia Therapeutics from $11.00 to $15.00 and gave the stock an “equal weight” rating in a report on Monday, April 27th. Citizens Jmp restated a “market outperform” rating and issued a $30.00 price target on shares of Intellia Therapeutics in a research note on Monday, June 15th. Citigroup restated a “market outperform” rating on shares of Intellia Therapeutics in a research note on Monday, June 15th. Finally, Robert W. Baird increased their price objective on Intellia Therapeutics from $7.00 to $13.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $20.85.

Intellia Therapeutics Price Performance

Shares of NASDAQ:NTLA opened at $12.02 on Tuesday. The company has a market capitalization of $1.68 billion, a P/E ratio of -3.58 and a beta of 1.81. Intellia Therapeutics, Inc. has a 1 year low of $7.95 and a 1 year high of $28.25. The business’s 50 day simple moving average is $13.61 and its 200 day simple moving average is $13.48.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.80) EPS for the quarter, hitting analysts’ consensus estimates of ($0.80). The firm had revenue of $7.66 million for the quarter, compared to analyst estimates of $12.98 million. Intellia Therapeutics had a negative return on equity of 57.79% and a negative net margin of 672.16%.The company’s revenue was down 46.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.98) EPS. On average, sell-side analysts anticipate that Intellia Therapeutics, Inc. will post -3.18 EPS for the current fiscal year.

Insider Buying and Selling

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

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.