Sumitomo Mitsui Trust Group Inc. Sells 156,736 Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Sumitomo Mitsui Trust Group Inc. trimmed its position in Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,992,663 shares of the company’s stock after selling 156,736 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 2.94% of Intellia Therapeutics worth $34,894,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Eastern Bank bought a new stake in shares of Intellia Therapeutics in the 3rd quarter valued at about $41,000. Values First Advisors Inc. bought a new stake in shares of Intellia Therapeutics in the 3rd quarter valued at about $54,000. KBC Group NV raised its holdings in shares of Intellia Therapeutics by 62.4% in the 4th quarter. KBC Group NV now owns 6,093 shares of the company’s stock valued at $71,000 after purchasing an additional 2,340 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Intellia Therapeutics by 27.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock valued at $77,000 after purchasing an additional 794 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of Intellia Therapeutics by 182.7% in the 3rd quarter. Blue Trust Inc. now owns 4,189 shares of the company’s stock valued at $94,000 after purchasing an additional 2,707 shares during the period. 88.77% of the stock is owned by institutional investors.

Intellia Therapeutics Trading Down 3.9 %

NASDAQ NTLA opened at $9.21 on Wednesday. The firm has a market capitalization of $938.04 million, a price-to-earnings ratio of -1.69 and a beta of 1.80. The firm’s 50 day simple moving average is $11.62 and its 200 day simple moving average is $16.81. Intellia Therapeutics, Inc. has a 1 year low of $9.08 and a 1 year high of $34.87.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NTLA. William Blair reaffirmed a “neutral” rating and issued a $14.00 target price on shares of Intellia Therapeutics in a report on Monday, November 18th. Morgan Stanley lowered shares of Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $56.00 to $11.00 in a research note on Monday, January 27th. Wedbush reiterated a “neutral” rating and issued a $10.00 price target (down previously from $14.00) on shares of Intellia Therapeutics in a research note on Friday, January 10th. Wells Fargo & Company decreased their price target on shares of Intellia Therapeutics from $70.00 to $60.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. Finally, The Goldman Sachs Group decreased their price target on shares of Intellia Therapeutics from $19.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.71.

Insider Buying and Selling

In related news, CEO John M. Leonard sold 26,807 shares of the 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 SEC, which is accessible through this link. In the last 90 days, insiders have sold 29,000 shares of company stock worth $352,551. Corporate insiders own 3.20% of the company’s stock.

Intellia Therapeutics Company 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.