Intellia Therapeutics (NASDAQ:NTLA) Trading Up 10.9% – Here’s What Happened

by · The Cerbat Gem

Intellia Therapeutics, Inc. (NASDAQ:NTLAGet Free Report)’s stock price traded up 10.9% during trading on Thursday . The stock traded as high as $12.69 and last traded at $12.7430. 1,283,691 shares traded hands during 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 Analysts Forecast Growth

Several analysts have issued reports on the stock. Citizens Jmp reiterated a “market outperform” rating and issued a $30.00 target price on shares of Intellia Therapeutics in a research note on Wednesday, September 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Intellia Therapeutics in a research report on Friday, July 17th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $49.00 price target on shares of Intellia Therapeutics in a report on Tuesday, June 16th. Wedbush increased their price objective on Intellia Therapeutics from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 9th. Finally, Citigroup reiterated a “market outperform” rating on shares of Intellia Therapeutics in a research report on Tuesday, August 25th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.98.

View Our Latest Report on Intellia Therapeutics

Intellia Therapeutics Price Performance

The firm has a market capitalization of $1.70 billion, a PE ratio of -3.61 and a beta of 1.82. The business’s 50 day moving average is $12.00 and its two-hundred day moving average is $13.33.

Intellia Therapeutics (NASDAQ:NTLAGet Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.80) EPS for the quarter, hitting analysts’ consensus estimates of ($0.80). The business had revenue of $7.66 million during the quarter, compared to analysts’ expectations of $12.98 million. Intellia Therapeutics had a negative net margin of 672.16% and a negative return on equity of 57.79%. The business’s quarterly revenue was down 46.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.98) EPS. Analysts expect that Intellia Therapeutics, Inc. will post -3.21 EPS for the current fiscal year.

Insider Buying and Selling at Intellia Therapeutics

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,641 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $16.78, for a total transaction of $44,315.98. Following the sale, the chief accounting officer owned 66,886 shares in the company, valued at $1,122,347.08. This trade represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Edward J. Dulac III sold 4,677 shares of Intellia Therapeutics stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $18.00, for a total value of $84,186.00. Following the sale, the executive vice president directly owned 156,286 shares of the company’s stock, valued at approximately $2,813,148. This trade represents a 2.91% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intellia Therapeutics

A number of large investors have recently modified their holdings of the company. Nykredit A S purchased a new stake in Intellia Therapeutics in the second quarter worth approximately $33,000. Freestone Grove Partners LP purchased a new position in shares of Intellia Therapeutics during the second quarter worth approximately $33,000. Integrated Wealth Concepts LLC bought a new stake in shares of Intellia Therapeutics in the 2nd quarter worth approximately $34,000. Fifth Third Bancorp bought a new stake in shares of Intellia Therapeutics in the 1st quarter worth approximately $38,000. Finally, State of Wyoming purchased a new stake in shares of Intellia Therapeutics in the 2nd quarter valued at $51,000. 88.77% of the stock is owned by hedge funds and other institutional investors.

Intellia Therapeutics Company Profile

(Get Free Report)

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.

Further Reading