Intellia Therapeutics (NASDAQ:NTLA) Trading Up 10.7% – Here’s What Happened

Intellia Therapeutics, Inc. (NASDAQ:NTLAGet Free Report)’s share price rose 10.7% during mid-day trading on Wednesday . The company traded as high as $12.81 and last traded at $12.8360. 2,912,155 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 5,297,498 shares. The stock had previously closed at $11.60.

Analyst Ratings Changes

A number of brokerages recently issued reports on NTLA. Robert W. Baird upped their price target on Intellia Therapeutics from $7.00 to $13.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Canaccord Genuity Group reissued a “buy” rating and set a $49.00 price target on shares of Intellia Therapeutics in a report on Tuesday, June 16th. Wedbush increased their price target on Intellia Therapeutics from $12.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. New Street Research set a $25.00 target price on shares of Intellia Therapeutics in a report on Monday, June 15th. Finally, The Goldman Sachs Group raised their price objective on shares of Intellia Therapeutics from $8.00 to $9.00 and gave the company a “sell” rating in a research report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $21.15.

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Intellia Therapeutics Price Performance

The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -3.82 and a beta of 1.81. The firm’s 50-day simple moving average is $13.43 and its two-hundred day simple moving average is $13.37.

Intellia Therapeutics (NASDAQ:NTLAGet Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.80). The company had revenue of $7.66 million during the quarter, compared to the consensus estimate of $12.98 million. Intellia Therapeutics had a negative net margin of 672.16% and a negative return on equity of 57.79%. The company’s revenue for the quarter was down 46.4% on a year-over-year basis. During the same period last year, the firm earned ($0.98) EPS. On average, analysts expect that Intellia Therapeutics, Inc. will post -3.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Edward J. Dulac III sold 4,677 shares of Intellia Therapeutics stock in a transaction 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 of the company’s stock, valued at $2,813,148. The trade was a 2.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Michael P. Dube sold 2,641 shares of the stock in a transaction dated 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 sale, the chief accounting officer directly owned 66,886 shares in the company, valued at approximately $1,122,347.08. The trade was a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 3.50% of the company’s stock.

Institutional Trading of Intellia Therapeutics

A number of hedge funds have recently added to or reduced their stakes in NTLA. Comerica Bank boosted its holdings in shares of Intellia Therapeutics by 45.8% in the 4th quarter. Comerica Bank now owns 2,869 shares of the company’s stock valued at $26,000 after purchasing an additional 901 shares during the last quarter. Headlands Technologies LLC acquired a new position in Intellia Therapeutics in the second quarter valued at $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Intellia Therapeutics during the 3rd quarter worth about $30,000. Freestone Grove Partners LP purchased a new stake in Intellia Therapeutics during the second quarter worth approximately $33,000. Finally, Advisory Services Network LLC purchased a new position in Intellia Therapeutics in the third quarter valued at about $33,000. 88.77% of the stock is owned by institutional investors and hedge funds.

About Intellia Therapeutics

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Intellia Therapeutics, Inc (NASDAQ: NTLA) is a clinical‐stage biotechnology company focused on developing potentially curative genome editing therapies using the CRISPR/Cas9 platform. The company’s research spans both in vivo and ex vivo applications of CRISPR/Cas9, aiming to correct or disable disease‐causing genes with a single administration. Intellia’s lead in vivo program targets transthyretin amyloidosis (ATTR) by delivering CRISPR/Cas9 machinery directly to the liver, while additional preclinical efforts pursue treatments for hemophilia A, hereditary angioedema and other genetic disorders.

Beyond its in vivo pipeline, Intellia collaborates with strategic partners to extend the impact of its genome editing approach.

Further Reading

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