Intellia Therapeutics (NTLA) Trading Up 5.8%
Intellia Therapeutics Inc (NASDAQ:NTLA)’s share price was up 5.8% on Tuesday . The stock traded as high as $28.80 and last traded at $28.67. Approximately 717,700 shares were traded during mid-day trading, a decline of 23% from the average daily volume of 928,341 shares. The stock had previously closed at $27.09.
Several equities analysts have recently weighed in on NTLA shares. ValuEngine raised Intellia Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd. BidaskClub raised Intellia Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 16th. Zacks Investment Research raised Intellia Therapeutics from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Saturday, August 4th. Chardan Capital reaffirmed a “buy” rating and issued a $57.50 price objective on shares of Intellia Therapeutics in a research note on Friday, August 24th. Finally, Raymond James started coverage on Intellia Therapeutics in a research note on Thursday, September 20th. They issued a “market perform” rating on the stock. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $39.50.
The stock has a market capitalization of $1.16 billion, a P/E ratio of -15.23 and a beta of 3.08.
In related news, Director Jean Francois Formela sold 6,686 shares of the business’s stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $31.17, for a total transaction of $208,402.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.20% of the company’s stock.
A number of hedge funds have recently bought and sold shares of NTLA. Macquarie Group Ltd. purchased a new stake in Intellia Therapeutics during the 2nd quarter worth approximately $101,000. Legal & General Group Plc increased its holdings in Intellia Therapeutics by 75.4% during the 2nd quarter. Legal & General Group Plc now owns 5,427 shares of the company’s stock worth $149,000 after purchasing an additional 2,333 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Intellia Therapeutics by 519.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,733 shares of the company’s stock worth $157,000 after purchasing an additional 4,807 shares during the last quarter. Sei Investments Co. increased its holdings in Intellia Therapeutics by 633.3% during the 2nd quarter. Sei Investments Co. now owns 5,866 shares of the company’s stock worth $160,000 after purchasing an additional 5,066 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Intellia Therapeutics during the 2nd quarter worth approximately $203,000. Institutional investors own 66.50% of the company’s stock.
About Intellia Therapeutics (NASDAQ:NTLA)
Intellia Therapeutics, Inc, a gene editing company, focuses on the development of therapeutics utilizing a biological tool known as the CRISPR/Cas9 system. The company develops in vivo programs focused on liver diseases, including transthyretin amyloidosis, alpha-1 antitrypsin deficiency, hepatitis B virus, and inborn errors of metabolism programs.
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