Intellia Therapeutics (NASDAQ:NTLA) Stock Price Up 10.7% on Analyst Upgrade

by · The Markets Daily

Intellia Therapeutics, Inc. (NASDAQ:NTLA – Get Free Report)’s share price was up 10.7% during trading on Monday after William Blair upgraded the stock from a market perform rating to an outperform rating. The stock traded as high as $15.35 and last traded at $15.2540. 9,385,176 shares traded hands during mid-day trading, an increase of 78% from the average session volume of 5,264,466 shares. The stock had previously closed at $13.78.

A number of other research analysts also recently weighed in on the company. KeyCorp set a $25.00 price target on Intellia Therapeutics in a research note on Wednesday, January 28th. Wall Street Zen lowered shares of Intellia Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, January 18th. Robert W. Baird set a $7.00 target price on shares of Intellia Therapeutics in a research note on Tuesday, January 27th. Evercore set a $8.00 price target on Intellia Therapeutics and gave the company an “in-line” rating in a research report on Tuesday, November 11th. Finally, HC Wainwright raised their target price on Intellia Therapeutics from $15.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Eight equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $17.90.

Read Our Latest Report on NTLA

Insider Transactions at Intellia Therapeutics

In related news, EVP James Basta sold 10,397 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $9.21, for a total value of $95,756.37. Following the completion of the transaction, the executive vice president directly owned 101,528 shares in the company, valued at approximately $935,072.88. The trade was a 9.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Birgit C. Schultes sold 8,508 shares of the stock in a transaction on Monday, January 5th. The shares were sold at an average price of $9.21, for a total value of $78,358.68. Following the completion of the transaction, the executive vice president directly owned 98,533 shares in the company, valued at approximately $907,488.93. This represents a 7.95% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 53,051 shares of company stock valued at $488,600. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NTLA. AQR Capital Management LLC lifted its holdings in shares of Intellia Therapeutics by 154.1% in the 1st quarter. AQR Capital Management LLC now owns 90,875 shares of the company’s stock worth $646,000 after acquiring an additional 55,118 shares during the last quarter. Woodline Partners LP purchased a new position in Intellia Therapeutics in the 1st quarter worth $171,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Intellia Therapeutics by 8.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 521,706 shares of the company’s stock worth $3,709,000 after purchasing an additional 38,521 shares during the last quarter. Atria Investments Inc purchased a new stake in Intellia Therapeutics during the second quarter valued at about $96,000. Finally, Intellectus Partners LLC grew its stake in shares of Intellia Therapeutics by 3.8% during the second quarter. Intellectus Partners LLC now owns 85,975 shares of the company’s stock valued at $806,000 after buying an additional 3,150 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors.

Intellia Therapeutics Stock Up 9.9%

The company has a fifty day moving average price of $11.89 and a 200 day moving average price of $13.05. The stock has a market cap of $1.75 billion, a PE ratio of -3.96 and a beta of 2.10.

Intellia Therapeutics (NASDAQ:NTLA – Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.83) EPS for the quarter, topping analysts’ consensus estimates of ($0.99) by $0.16. The business had revenue of $23.02 million for the quarter, compared to analysts’ expectations of $12.17 million. Intellia Therapeutics had a negative return on equity of 56.81% and a negative net margin of 609.85%.The business’s quarterly revenue was up 78.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.27) EPS. As a group, research analysts predict that Intellia Therapeutics, Inc. will post -5.07 earnings per share for the current year.

About Intellia Therapeutics

(Get Free Report)

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.

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