Intellia Therapeutics (NASDAQ:NTLA) Shares Up 7.9% – Time to Buy?

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) shot up 7.9% during mid-day trading on Wednesday . The company traded as high as $14.49 and last traded at $13.8490. 3,457,954 shares changed hands during trading, a decline of 40% from the average session volume of 5,724,107 shares. The stock had previously closed at $12.83.

Wall Street Analyst Weigh In

NTLA has been the subject of several research analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $14.00 price objective (down previously from $25.00) on shares of Intellia Therapeutics in a report on Monday, November 10th. Citigroup reaffirmed a “market outperform” rating on shares of Intellia Therapeutics in a research note on Tuesday, October 28th. JMP Securities decreased their price objective on shares of Intellia Therapeutics from $33.00 to $29.00 and set a “market outperform” rating for the company in a report on Tuesday, October 28th. Wedbush lowered their price objective on shares of Intellia Therapeutics from $9.00 to $7.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $5.00 target price (down from $12.00) on shares of Intellia Therapeutics in a research report on Friday, November 7th. Nine investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $17.00.

Intellia Therapeutics Price Performance

The company has a fifty day simple moving average of $9.52 and a 200-day simple moving average of $12.82. The company has a market cap of $1.59 billion, a P/E ratio of -3.22 and a beta of 2.05.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.10. Intellia Therapeutics had a negative net margin of 774.94% and a negative return on equity of 57.01%. The business had revenue of $13.78 million for the quarter, compared to analyst estimates of $14.12 million. During the same quarter in the previous year, the business earned ($1.34) earnings per share. The firm’s revenue was up 51.6% compared to the same quarter last year. On average, analysts anticipate that Intellia Therapeutics, Inc. will post -5.07 EPS for the current year.

Insider Activity

In other news, EVP James Basta sold 10,397 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $9.21, for a total value of $95,756.37. Following the transaction, the executive vice president owned 101,528 shares in the company, valued at $935,072.88. This represents a 9.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John M. Leonard sold 34,146 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $9.21, for a total transaction of $314,484.66. Following the transaction, the chief executive officer directly owned 1,013,339 shares in the company, valued at $9,332,852.19. The trade was a 3.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 53,051 shares of company stock worth $488,600. 3.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intellia Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC increased its holdings in Intellia Therapeutics by 154.1% in the first quarter. AQR Capital Management LLC now owns 90,875 shares of the company’s stock worth $646,000 after buying an additional 55,118 shares during the last quarter. Woodline Partners LP acquired a new position in shares of Intellia Therapeutics during the 1st quarter worth $171,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Intellia Therapeutics by 8.0% during the 1st 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. Voya Investment Management LLC raised its holdings in shares of Intellia Therapeutics by 621.5% during the 1st quarter. Voya Investment Management LLC now owns 208,009 shares of the company’s stock valued at $1,479,000 after purchasing an additional 179,180 shares in the last quarter. Finally, Ballentine Partners LLC acquired a new stake in shares of Intellia Therapeutics in the 2nd quarter valued at $161,000. 88.77% of the stock is owned by hedge funds and other institutional investors.

About Intellia Therapeutics

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.