Intellia Therapeutics (NASDAQ:NTLA) Shares Gap Up – What’s Next?

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) gapped up before the market opened on Tuesday . The stock had previously closed at $13.95, but opened at $16.51. Intellia Therapeutics shares last traded at $15.5270, with a volume of 6,886,122 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Truist Financial reaffirmed a “buy” rating and set a $14.00 target price (down previously from $25.00) on shares of Intellia Therapeutics in a research note on Monday, November 10th. Citizens Jmp decreased their price target on shares of Intellia Therapeutics from $29.00 to $21.00 and set a “market outperform” rating for the company in a report on Friday, November 7th. Bank of America dropped their price objective on shares of Intellia Therapeutics from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, October 27th. Wedbush cut their target price on shares of Intellia Therapeutics from $9.00 to $7.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $5.00 price target (down from $12.00) on shares of Intellia Therapeutics in a report on Friday, November 7th. Nine analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $17.29.

Intellia Therapeutics Trading Up 2.2%

The firm has a market cap of $1.65 billion, a P/E ratio of -3.34 and a beta of 2.05. The business’s fifty day moving average price is $9.99 and its two-hundred day moving average price is $12.91.

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

Insiders Place Their Bets

In other Intellia Therapeutics news, EVP Birgit C. Schultes sold 8,508 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $9.21, for a total transaction of $78,358.68. Following the completion of the sale, the executive vice president owned 98,533 shares of the company’s stock, valued at $907,488.93. This represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John M. Leonard sold 34,146 shares of Intellia Therapeutics 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 completion of the transaction, the chief executive officer directly owned 1,013,339 shares in the company, valued at approximately $9,332,852.19. This represents a 3.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 53,051 shares of company stock valued at $488,600 over the last 90 days. 3.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NTLA. Headlands Technologies LLC acquired a new stake in shares of Intellia Therapeutics in the second quarter valued at about $26,000. Blue Bell Private Wealth Management LLC bought a new stake in Intellia Therapeutics during the 3rd quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd bought a new stake in Intellia Therapeutics during the 3rd quarter valued at approximately $30,000. Whipplewood Advisors LLC grew its holdings in Intellia Therapeutics by 114,900.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 3,450 shares of the company’s stock valued at $32,000 after buying an additional 3,447 shares during the last quarter. Finally, Advisory Services Network LLC bought a new position in Intellia Therapeutics in the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 88.77% of the company’s stock.

Intellia Therapeutics Company Profile

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.