Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA – Get Free Report) rose 10.9% during trading on Thursday . The company traded as high as $12.69 and last traded at $12.7430. 1,283,691 shares were traded during mid-day trading, a decline of 75% from the average session volume of 5,088,443 shares. The stock had previously closed at $11.49.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on NTLA shares. Evercore raised shares of Intellia Therapeutics from a “hold” rating to an “outperform” rating and set a $24.00 price target on the stock in a report on Friday, August 7th. Wolfe Research downgraded shares of Intellia Therapeutics from a “peer perform” rating to an “underperform” rating and set a $9.00 price objective for the company. in a research note on Wednesday, July 15th. Citigroup restated a “market outperform” rating on shares of Intellia Therapeutics in a research report on Tuesday, August 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intellia Therapeutics in a research note on Friday, July 17th. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $30.00 price target on shares of Intellia Therapeutics in a report on Wednesday, September 9th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $20.98.
Get Our Latest Research Report on Intellia Therapeutics
Intellia Therapeutics Stock Performance
Intellia Therapeutics (NASDAQ:NTLA – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share for the quarter, meeting the consensus estimate of ($0.80). The company had revenue of $7.66 million during the quarter, compared to analysts’ expectations of $12.98 million. Intellia Therapeutics had a negative return on equity of 57.79% and a negative net margin of 672.16%.The business’s quarterly revenue was down 46.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.98) earnings per share. As a group, equities analysts predict that Intellia Therapeutics, Inc. will post -3.21 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Intellia Therapeutics news, CAO Michael Dube sold 2,641 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $16.78, for a total transaction of $44,315.98. Following the completion of the transaction, the chief accounting officer owned 66,886 shares in the company, valued at approximately $1,122,347.08. This trade represents a 3.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP J III sold 4,677 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $18.00, for a total transaction of $84,186.00. Following the completion of the transaction, the executive vice president owned 156,286 shares in the company, valued at $2,813,148. This trade represents a 2.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.50% of the company’s stock.
Institutional Trading of Intellia Therapeutics
A number of large investors have recently bought and sold shares of NTLA. Nykredit A S acquired a new position in shares of Intellia Therapeutics in the 2nd quarter valued at about $33,000. Freestone Grove Partners LP acquired a new position in Intellia Therapeutics in the second quarter valued at approximately $33,000. Integrated Wealth Concepts LLC acquired a new position in Intellia Therapeutics in the second quarter valued at approximately $34,000. Fifth Third Bancorp bought a new position in shares of Intellia Therapeutics during the 1st quarter worth approximately $38,000. Finally, State of Wyoming bought a new position in shares of Intellia Therapeutics during the 2nd quarter worth approximately $51,000. 88.77% of the stock is currently owned by institutional investors and hedge funds.
About Intellia Therapeutics
Intellia Therapeutics, Inc is a biotechnology company focused on developing curative treatments using CRISPR-based gene-editing technology. The company’s approach is designed to make targeted changes to disease-associated genes, including through in vivo therapies that edit genes directly inside the body.
Intellia’s pipeline includes NTLA-2001, an investigational treatment designed to address transthyretin amyloidosis by editing the TTR gene, and NTLA-2002, an investigational therapy targeting hereditary angioedema through editing of the KLKB1 gene.
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