Intellia Therapeutics (NASDAQ:NTLA) Releases Earnings Results, Beats Estimates By $0.10 EPS

Intellia Therapeutics (NASDAQ:NTLA) released its quarterly earnings results on Thursday. The company reported ($0.92) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.10, Zacks reports. Intellia Therapeutics had a negative return on equity of 56.28% and a negative net margin of 774.94%.The business had revenue of $13.78 million during the quarter, compared to analyst estimates of $14.12 million. During the same quarter last year, the company posted ($1.34) EPS. Intellia Therapeutics’s revenue for the quarter was up 51.6% on a year-over-year basis.

Intellia Therapeutics Trading Down 22.7%

Shares of NASDAQ NTLA traded down $2.80 during midday trading on Friday, reaching $9.52. The company’s stock had a trading volume of 25,372,622 shares, compared to its average volume of 10,223,058. Intellia Therapeutics has a fifty-two week low of $5.90 and a fifty-two week high of $28.25. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -2.23 and a beta of 2.44. The stock has a 50 day simple moving average of $17.19 and a 200-day simple moving average of $12.47.

Insider Buying and Selling at Intellia Therapeutics

In other news, Director William J. Chase bought 100,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were acquired at an average cost of $10.03 per share, for a total transaction of $1,003,000.00. Following the completion of the acquisition, the director owned 134,693 shares in the company, valued at approximately $1,350,970.79. This represents a 288.24% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Michael P. Dube sold 1,871 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $17.38, for a total value of $32,517.98. Following the transaction, the chief accounting officer directly owned 55,266 shares in the company, valued at approximately $960,523.08. This trade represents a 3.27% decrease in their position. The SEC filing for this sale provides additional information. 3.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intellia Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in NTLA. Headlands Technologies LLC purchased a new position in shares of Intellia Therapeutics in the second quarter valued at $26,000. Daiwa Securities Group Inc. boosted its stake in shares of Intellia Therapeutics by 56.0% during the second quarter. Daiwa Securities Group Inc. now owns 7,771 shares of the company’s stock valued at $73,000 after purchasing an additional 2,788 shares during the period. First Trust Advisors LP bought a new stake in shares of Intellia Therapeutics in the second quarter worth about $96,000. Ameriprise Financial Inc. boosted its holdings in Intellia Therapeutics by 13.9% in the second quarter. Ameriprise Financial Inc. now owns 11,803 shares of the company’s stock valued at $111,000 after acquiring an additional 1,443 shares in the last quarter. Finally, Prudential Financial Inc. bought a new position in Intellia Therapeutics in the 2nd quarter worth $126,000. 88.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NTLA. Robert W. Baird set a $9.00 price objective on Intellia Therapeutics in a research note on Thursday, October 30th. Chardan Capital lowered their price objective on shares of Intellia Therapeutics from $48.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $5.00 price objective (down previously from $12.00) on shares of Intellia Therapeutics in a research report on Friday. Wells Fargo & Company decreased their price target on shares of Intellia Therapeutics from $17.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Oppenheimer set a $27.00 price target on Intellia Therapeutics in a research report on Friday. Twelve equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.39.

About Intellia Therapeutics

Intellia Therapeutics, Inc, a genome editing company, focuses on the development of curative therapeutics. The company's in vivo programs include NTLA-2001, which is in Phase 1 clinical trial for the treatment of transthyretin amyloidosis; NTLA-2002 for the treatment of hereditary angioedema; and NTLA-3001 for alpha-1 antitrypsin deficiency associated lung disease.