Intellia Therapeutics (NTLA) Stock Price Up 11.9%
Intellia Therapeutics Inc (NASDAQ:NTLA) rose 11.9% on Wednesday . The company traded as high as $21.82 and last traded at $21.51. Approximately 1,086,700 shares were traded during trading, an increase of 20% from the average daily volume of 904,700 shares. The stock had previously closed at $19.22.
NTLA has been the topic of a number of recent research reports. ValuEngine raised Intellia Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. Wedbush reaffirmed an “ourperform” rating and set a $25.00 price objective (down from $29.00) on shares of Intellia Therapeutics in a report on Wednesday, September 27th. Jefferies Group reaffirmed a “buy” rating and set a $36.00 price objective on shares of Intellia Therapeutics in a report on Tuesday, October 3rd. Zacks Investment Research raised Intellia Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. Finally, Leerink Swann lifted their price objective on Intellia Therapeutics from $29.00 to $37.00 and gave the company an “outperform” rating in a report on Tuesday, October 31st. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $30.17.
The company has a market capitalization of $932.22 and a P/E ratio of -14.21.
Intellia Therapeutics (NASDAQ:NTLA) last posted its earnings results on Tuesday, October 31st. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.06. Intellia Therapeutics had a negative net margin of 215.92% and a negative return on equity of 28.01%. The company had revenue of $7.30 million during the quarter, compared to analysts’ expectations of $5.83 million. During the same quarter in the previous year, the company posted ($0.22) earnings per share. Intellia Therapeutics’s quarterly revenue was up 49.0% compared to the same quarter last year. equities research analysts predict that Intellia Therapeutics Inc will post -1.68 EPS for the current year.
In related news, CEO Nessan Bermingham sold 336,783 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $20.78, for a total value of $6,998,350.74. Following the completion of the transaction, the chief executive officer now owns 696,000 shares in the company, valued at approximately $14,462,880. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Institutes For Biomed Novartis sold 1,523,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $18.30, for a total transaction of $27,870,900.00. The disclosure for this sale can be found here. Insiders sold 1,971,283 shares of company stock valued at $37,137,161 in the last quarter. 12.80% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of NTLA. Schwab Charles Investment Management Inc. raised its position in 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 purchasing an additional 1,539 shares during the last quarter. Bank of Montreal Can raised its position in Intellia Therapeutics by 1,031.7% in the 2nd quarter. Bank of Montreal Can now owns 7,922 shares of the company’s stock worth $127,000 after purchasing an additional 7,222 shares during the last quarter. Rhumbline Advisers bought a new position in Intellia Therapeutics in the 2nd quarter worth approximately $275,000. State of Wisconsin Investment Board bought a new position in Intellia Therapeutics in the 2nd quarter worth approximately $160,000. Finally, SG Americas Securities LLC bought a new position in Intellia Therapeutics in the 2nd quarter worth approximately $101,000. Hedge funds and other institutional investors own 48.95% of the company’s stock.
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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