Contrarius Group Holdings Ltd Invests $11.80 Million in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Contrarius Group Holdings Ltd bought a new position in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,011,863 shares of the company’s stock, valued at approximately $11,798,000. Intellia Therapeutics comprises 0.7% of Contrarius Group Holdings Ltd’s holdings, making the stock its 25th biggest position. Contrarius Group Holdings Ltd owned about 0.99% of Intellia Therapeutics at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. ARK Investment Management LLC increased its holdings in shares of Intellia Therapeutics by 2.3% during the fourth quarter. ARK Investment Management LLC now owns 12,536,386 shares of the company’s stock worth $146,174,000 after buying an additional 280,946 shares in the last quarter. State Street Corp boosted its stake in Intellia Therapeutics by 17.9% in the third quarter. State Street Corp now owns 5,143,534 shares of the company’s stock valued at $105,700,000 after acquiring an additional 780,754 shares during the last quarter. Regeneron Pharmaceuticals Inc. bought a new position in shares of Intellia Therapeutics during the fourth quarter worth $43,177,000. Geode Capital Management LLC boosted its position in shares of Intellia Therapeutics by 2.2% during the third quarter. Geode Capital Management LLC now owns 2,343,310 shares of the company’s stock worth $48,164,000 after purchasing an additional 49,367 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Intellia Therapeutics by 5.0% during the third quarter. FMR LLC now owns 2,339,522 shares of the company’s stock worth $48,077,000 after purchasing an additional 111,104 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on NTLA. Citigroup boosted their price objective on shares of Intellia Therapeutics from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Friday, February 28th. HC Wainwright initiated coverage on shares of Intellia Therapeutics in a research note on Wednesday, March 5th. They set a “buy” rating and a $30.00 price objective on the stock. The Goldman Sachs Group reiterated a “sell” rating and issued a $9.00 price target on shares of Intellia Therapeutics in a research note on Friday, February 28th. Truist Financial decreased their price target on shares of Intellia Therapeutics from $90.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Finally, Wedbush reissued a “neutral” rating and issued a $10.00 price objective (down previously from $14.00) on shares of Intellia Therapeutics in a report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $37.56.

Intellia Therapeutics Stock Up 1.2 %

Shares of NASDAQ NTLA opened at $9.30 on Thursday. The firm’s 50-day moving average price is $10.18 and its 200-day moving average price is $14.37. The company has a market cap of $962.71 million, a PE ratio of -1.71 and a beta of 1.97. Intellia Therapeutics, Inc. has a 52-week low of $8.30 and a 52-week high of $28.54.

Insider Buying and Selling

In other Intellia Therapeutics 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 sale, the chief executive officer now owns 941,115 shares in the company, valued at approximately $11,462,780.70. This trade represents a 2.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 29,000 shares of company stock valued at $352,551. 3.20% of the stock is owned by insiders.

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.