Caribou Biosciences, Inc. Picked Up Intellia Therapeutics Inc. (NASDAQ:NTLA) Shares

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC),...
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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Intellia Therapeutics Inc. (NASDAQ:NTLA) reported that Caribou Biosciences, Inc. has picked up 5,593,846 of common stock as of 2017-02-28.

The acquisition brings the aggregate amount owned by Caribou Biosciences, Inc. to a total of 5,593,846  representing a 15.5% stake in the company.

For those not familiar with the company, Intellia Therapeutics, Inc. is a genome editing company. The Company is focused on developing therapeutics utilizing a biological tool known as CRISPR/Cas9. The CRISPR/Cas9 genome editing system includes two components: the Cas9 protein and the guide RNA sequence. The Cas9 protein acts like a pair of molecular scissors that initiates the natural cellular repair process to knockout, repair or insert a gene. The guide RNA sequence recognizes and directs the Cas9 to a specific target deoxyribonucleic acid (DNA) sequence. The Company’s sentinel in vivo programs focus on the use of Lipid Nanoparticle (LNPs) for delivery of the CRISPR/Cas9 complex to the liver. The Company’s division, eXtellia Therapeutics, is focused on the application of CRISPR/Cas9 genome editing in the fields of immuno-oncology and autoimmune and inflammatory diseases. The Company’s subsidiary is Intellia Securities Corp. As of September 30, 2016, the Company had not generated any revenue.

A glance at Intellia Therapeutics Inc(NASDAQ:NTLA)’s key stats reveals a current market capitalization of 562.27 million based on 36.00 million shares outstanding and a price at last close of $14.28 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2016-05-11, Orbimed picked up 58,534 at a purchase price of $18.00. This brings their total holding to 2,662,180 as of the date of the filing.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Intellia Therapeutics Inc. (NASDAQ:NTLA) as things move forward to see if its progress aligns with these transactions.

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