AlphaQuest LLC Sells 29,619 Shares of Intellia Therapeutics, Inc. $NTLA

Core Viewpoint - AlphaQuest LLC significantly reduced its stake in Intellia Therapeutics by 57.1% in Q2, indicating a shift in investment strategy towards the company [2] Institutional Holdings - Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its position by 23.5%, now holding 100,000 shares valued at $938,000 after acquiring 19,000 shares [3] - D.A. Davidson & CO. raised its holdings by 108.0%, owning 54,120 shares worth $508,000 after purchasing 28,100 shares [3] - VIRGINIA RETIREMENT SYSTEMS ET Al established a new position valued at approximately $166,000 [3] - Harbour Investments Inc. increased its stake by 27.2%, now owning 6,633 shares valued at $62,000 after buying 1,419 shares [3] - CWM LLC grew its holdings by 22.9%, now owning 18,331 shares valued at $172,000 after acquiring 3,419 shares [3] - Institutional investors currently own 88.77% of Intellia Therapeutics' stock [3] Price Performance - Intellia Therapeutics' stock opened at $12.62, with a market capitalization of $1.35 billion and a PE ratio of -2.69 [4] - The stock has a 12-month low of $5.90 and a high of $28.25, with 50-day and 200-day moving averages at $17.12 and $12.38, respectively [4] Earnings Results - For the latest quarter, Intellia reported an EPS of ($0.99), beating the consensus estimate of ($1.03) by $0.04 [4] - Revenue for the quarter was $14.25 million, exceeding analyst estimates of $12.26 million, and reflecting a year-over-year increase of 104.3% [4] - The company had a negative return on equity of 57.48% and a negative net margin of 908.48% [4] Analyst Ratings - Robert W. Baird set a price target of $9.00 for Intellia Therapeutics [5] - Citigroup maintained a "market outperform" rating, while William Blair downgraded the stock from "outperform" to "market perform" [5] - Chardan Capital reduced its target price from $60.00 to $48.00, maintaining a "buy" rating [5] - The consensus rating for Intellia Therapeutics is "Hold" with an average price target of $23.74 [5] Insider Activity - Director William J. Chase acquired 100,000 shares at an average cost of $10.03, totaling $1,003,000, increasing his position by 288.24% [6] - CAO Michael P. Dube sold 1,871 shares at an average price of $17.38, resulting in a total transaction of $32,517.98, representing a 3.27% decrease in his ownership [7] - Insiders currently own 3.10% of the company's stock [7] Company Overview - Intellia Therapeutics focuses on genome editing and the development of curative therapeutics, with programs including NTLA-2001, NTLA-2002, and NTLA-3001 [8]