Regeneron Pharmaceuticals Inc. Invests $43.18 Million in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Regeneron Pharmaceuticals Inc. acquired a new position in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,702,995 shares of the company’s stock, valued at approximately $43,177,000. Intellia Therapeutics comprises 3.9% of Regeneron Pharmaceuticals Inc.’s holdings, making the stock its 2nd largest position.

A number of other large investors also recently modified their holdings of NTLA. State Street Corp boosted its stake in shares of 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 buying an additional 780,754 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Intellia Therapeutics in the 4th quarter valued at about $4,793,000. ARK Investment Management LLC lifted its stake in Intellia Therapeutics by 2.3% in the 4th quarter. ARK Investment Management LLC now owns 12,536,386 shares of the company’s stock valued at $146,174,000 after purchasing an additional 280,946 shares during the last quarter. Two Sigma Advisers LP lifted its stake in Intellia Therapeutics by 33.5% in the 3rd quarter. Two Sigma Advisers LP now owns 1,027,617 shares of the company’s stock valued at $21,118,000 after purchasing an additional 257,700 shares during the last quarter. Finally, Sphera Funds Management LTD. lifted its stake in Intellia Therapeutics by 108.8% in the 3rd quarter. Sphera Funds Management LTD. now owns 291,080 shares of the company’s stock valued at $5,982,000 after purchasing an additional 151,661 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intellia Therapeutics

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 shares were sold at an average price of $12.18, for a total transaction of $326,509.26. Following the transaction, the chief executive officer now directly owns 941,115 shares of the company’s stock, valued at approximately $11,462,780.70. This trade represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 29,000 shares of company stock valued at $352,551. 3.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NTLA shares. StockNews.com upgraded shares of Intellia Therapeutics to a “sell” rating in a research note on Monday, March 3rd. Truist Financial cut their target price on shares of Intellia Therapeutics from $90.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. BMO Capital Markets cut their target price on shares of Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Morgan Stanley downgraded shares of Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $56.00 to $11.00 in a research note on Monday, January 27th. Finally, William Blair reiterated a “neutral” rating and issued a $14.00 target price on shares of Intellia Therapeutics in a research note on Monday, November 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.56.

Intellia Therapeutics Trading Down 8.6 %

Shares of NTLA opened at $9.46 on Tuesday. Intellia Therapeutics, Inc. has a 12 month low of $8.30 and a 12 month high of $31.10. The firm’s 50 day moving average is $10.57 and its 200-day moving average is $14.98. The stock has a market capitalization of $979.27 million, a PE ratio of -1.74 and a beta of 1.97.

About Intellia Therapeutics

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.