Intellia Therapeutics Inc (NASDAQ:NTLA) gapped down prior to trading on Wednesday . The stock had previously closed at $19.46, but opened at $18.30. Intellia Therapeutics shares last traded at $17.71, with a volume of 3324695 shares changing hands.

NTLA has been the topic of a number of research analyst reports. Jefferies Group set a $42.00 target price on Intellia Therapeutics and gave the company a “buy” rating in a report on Tuesday, October 31st. Barclays reissued a “buy” rating on shares of Intellia Therapeutics in a report on Sunday, November 5th. Oppenheimer reissued a “hold” rating on shares of Intellia Therapeutics in a report on Tuesday. ValuEngine raised Intellia Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. Finally, Zacks Investment Research raised Intellia Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $30.17.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings data on Tuesday, October 31st. The company reported ($0.44) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.50) by $0.06. Intellia Therapeutics had a negative return on equity of 28.01% and a negative net margin of 215.92%. The company had revenue of $7.30 million for the quarter, compared to the consensus estimate of $5.83 million. During the same quarter last year, the business posted ($0.22) EPS. Intellia Therapeutics’s revenue for the quarter was up 49.0% on a year-over-year basis. analysts forecast that Intellia Therapeutics Inc will post -1.68 earnings per share for the current year.

In other Intellia Therapeutics news, major shareholder Institutes For Biomed Novartis sold 1,523,000 shares of Intellia Therapeutics stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $18.30, for a total transaction of $27,870,900.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Nessan Bermingham sold 111,500 shares of Intellia Therapeutics stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $20.34, for a total value of $2,267,910.00. Following the transaction, the chief executive officer now directly owns 696,000 shares in the company, valued at $14,156,640. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,971,283 shares of company stock worth $37,137,161. 12.80% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in NTLA. Airain ltd raised its position in shares of Intellia Therapeutics by 3.8% in the 2nd quarter. Airain ltd now owns 28,077 shares of the company’s stock worth $449,000 after acquiring an additional 1,027 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Intellia Therapeutics by 6.1% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 26,903 shares of the company’s stock worth $380,000 after acquiring an additional 1,539 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Intellia Therapeutics by 61.3% in the 3rd quarter. SG Americas Securities LLC now owns 10,169 shares of the company’s stock worth $253,000 after acquiring an additional 3,863 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Intellia Therapeutics by 6.0% in the 1st quarter. Geode Capital Management LLC now owns 76,095 shares of the company’s stock worth $1,072,000 after acquiring an additional 4,291 shares in the last quarter. Finally, Nationwide Fund Advisors raised its position in shares of Intellia Therapeutics by 117.7% in the 2nd quarter. Nationwide Fund Advisors now owns 8,048 shares of the company’s stock worth $129,000 after acquiring an additional 4,351 shares in the last quarter. 49.55% of the stock is currently owned by hedge funds and other institutional investors.

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About Intellia Therapeutics

Intellia Therapeutics, Inc is a genome editing company. The Company is focused on developing therapeutics utilizing a biological tool known as CRISPR/Cas9. The CRISPR/Cas9 genome editing system includes two components: the Cas9 protein and the guide RNA sequence. The Cas9 protein acts like a pair of molecular scissors that initiates the natural cellular repair process to knockout, repair or insert a gene.

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