Intellia Therapeutics (NASDAQ:NTLA) Shares Up 10.7% – Here’s Why

Intellia Therapeutics, Inc. (NASDAQ:NTLA) rose 10.7% on Wednesday . The company traded as high as $12.81 and last traded at $12.8360. Approximately 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 have recently issued reports on NTLA. New Street Research set a $25.00 price target on Intellia Therapeutics in a research report on Monday, June 15th. Morgan Stanley raised their target price on shares of Intellia Therapeutics from $11.00 to $15.00 and gave the company an “equal weight” rating in a research note on Monday, April 27th. HC Wainwright reiterated a “buy” rating and set a $25.00 target price on shares of Intellia Therapeutics in a research report on Monday, June 15th. Citigroup reissued a “market outperform” rating on shares of Intellia Therapeutics in a research note on Monday, June 15th. Finally, Sanford C. Bernstein increased their price target on shares of Intellia Therapeutics from $13.00 to $17.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. One equities research 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $21.15.

Intellia Therapeutics Trading Up 2.6%

The business has a fifty day moving average price of $13.45 and a 200-day moving average price of $13.36. The stock has a market capitalization of $1.79 billion, a PE ratio of -3.80 and a beta of 1.81.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.80) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.80). The company had revenue of $7.66 million for 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%.Intellia Therapeutics’s revenue for the quarter was down 46.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.98) EPS. On average, equities analysts anticipate that Intellia Therapeutics, Inc. will post -3.21 earnings per share for the current fiscal year.

Insider Activity at Intellia Therapeutics

In other news, CAO Michael P. Dube sold 2,641 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $16.78, for a total value of $44,315.98. Following the completion of the sale, the chief accounting officer owned 66,886 shares of the company’s stock, valued at approximately $1,122,347.08. This represents a 3.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $18.00, for a total transaction of $84,186.00. Following the transaction, the executive vice president directly owned 156,286 shares in the company, valued at approximately $2,813,148. This represents a 2.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 3.50% of the company’s stock.

Institutional Trading of Intellia Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Comerica Bank increased its holdings in shares of Intellia Therapeutics by 45.8% in the fourth quarter. Comerica Bank now owns 2,869 shares of the company’s stock worth $26,000 after buying an additional 901 shares during the period. Headlands Technologies LLC purchased a new stake in Intellia Therapeutics during the 2nd quarter valued at about $26,000. Caitong International Asset Management Co. Ltd bought a new position in Intellia Therapeutics during the 3rd quarter worth approximately $30,000. Freestone Grove Partners LP bought a new position in Intellia Therapeutics during the 2nd quarter worth approximately $33,000. Finally, Advisory Services Network LLC purchased a new position in Intellia Therapeutics in the 3rd quarter worth approximately $33,000. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Intellia Therapeutics Company Profile

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.