California Public Employees Retirement System Decreases Position in Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Posted by on May 19th, 2023

California Public Employees Retirement System decreased its holdings in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA – Get Rating) by 6.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 146,588 shares of the company’s stock after selling 10,409 shares during the quarter. California Public Employees Retirement System owned approximately 0.19% of Intellia Therapeutics worth $5,114,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in NTLA. MetLife Investment Management LLC lifted its stake in Intellia Therapeutics by 54.7% during the first quarter. MetLife Investment Management LLC now owns 37,362 shares of the company’s stock worth $2,715,000 after purchasing an additional 13,209 shares during the last quarter. Rhumbline Advisers lifted its stake in Intellia Therapeutics by 2.7% in the first quarter. Rhumbline Advisers now owns 98,247 shares of the company’s stock valued at $7,140,000 after buying an additional 2,620 shares during the last quarter. Cibc World Market Inc. lifted its stake in Intellia Therapeutics by 47.3% in the first quarter. Cibc World Market Inc. now owns 4,740 shares of the company’s stock valued at $344,000 after buying an additional 1,522 shares during the last quarter. Blair William & Co. IL lifted its stake in Intellia Therapeutics by 11.9% in the first quarter. Blair William & Co. IL now owns 10,362 shares of the company’s stock valued at $753,000 after buying an additional 1,100 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in Intellia Therapeutics in the first quarter valued at approximately $307,000. Hedge funds and other institutional investors own 85.61% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Intellia Therapeutics from $82.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, March 31st. JMP Securities cut Intellia Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 19th. Oppenheimer cut their price target on Intellia Therapeutics from $115.00 to $93.00 and set an “outperform” rating for the company in a research note on Friday, February 24th. Credit Suisse Group cut their price target on Intellia Therapeutics from $88.00 to $76.00 and set an “outperform” rating for the company in a research note on Friday, February 24th. Finally, StockNews.com began coverage on Intellia Therapeutics in a research note on Thursday. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Intellia Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $86.06.

Intellia Therapeutics Price Performance

NASDAQ NTLA opened at $42.96 on Friday. The firm has a market capitalization of $3.79 billion, a P/E ratio of -7.97 and a beta of 1.86. Intellia Therapeutics, Inc. has a 1-year low of $32.44 and a 1-year high of $76.45. The business’s 50-day simple moving average is $38.83 and its 200-day simple moving average is $40.76.

Intellia Therapeutics (NASDAQ:NTLA – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The company reported ($1.17) EPS for the quarter, topping the consensus estimate of ($1.41) by $0.24. The firm had revenue of $12.60 million for the quarter, compared to analyst estimates of $11.76 million. Intellia Therapeutics had a negative return on equity of 41.67% and a negative net margin of 804.94%. Intellia Therapeutics’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the previous year, the company posted ($1.96) EPS. On average, equities research analysts expect that Intellia Therapeutics, Inc. will post -5.34 EPS for the current fiscal year.

Intellia Therapeutics Company Profile

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Intellia Therapeutics, Inc is a clinical stage genome editing company, which engages in the development of curative therapeutics using the CRISPR/Cas9 system. Its CRISPR/Cas9 system transforms medicine by both producing therapeutics that permanently edit and/or correct disease-associated genes in the human body with a single treatment course, and creates engineered cells that can treat oncological and immunological diseases.

See Also

Institutional Ownership by Quarter for Intellia Therapeutics (NASDAQ:NTLA)

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