Intellia Therapeutics (NASDAQ:NTLA) Shares Up 10.9% – What’s Next?

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s share price traded up 10.9% during mid-day trading on Thursday . The company traded as high as $12.69 and last traded at $12.7430. 1,283,691 shares were traded during trading, a decline of 75% from the average session volume of 5,088,443 shares. The stock had previously closed at $11.49.

Wall Street Analyst Weigh In

NTLA has been the subject of a number of research reports. Canaccord Genuity Group restated a “buy” rating and issued a $49.00 price target on shares of Intellia Therapeutics in a report on Tuesday, June 16th. Wall Street Zen cut shares of Intellia Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Wolfe Research downgraded Intellia Therapeutics from a “peer perform” rating to an “underperform” rating and set a $9.00 target price for the company. in a research note on Wednesday, July 15th. Citigroup reaffirmed a “market outperform” rating on shares of Intellia Therapeutics in a research report on Tuesday, August 25th. Finally, New Street Research set a $25.00 price target on Intellia Therapeutics in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.98.

Intellia Therapeutics Stock Up 9.2%

The stock has a market capitalization of $1.76 billion, a P/E ratio of -3.73 and a beta of 1.82. The business’s 50 day simple moving average is $12.10 and its two-hundred day simple moving average is $13.35.

Intellia Therapeutics (NASDAQ:NTLA) last posted its earnings results on Thursday, August 6th. The company reported ($0.80) EPS for the quarter, hitting the consensus estimate of ($0.80). Intellia Therapeutics had a negative net margin of 672.16% and a negative return on equity of 57.79%. The company had revenue of $7.66 million during the quarter, compared to the consensus estimate of $12.98 million. During the same period in the previous year, the firm posted ($0.98) earnings per share. The firm’s revenue for the quarter was down 46.4% on a year-over-year basis. Analysts predict that Intellia Therapeutics, Inc. will post -3.21 earnings per share for the current year.

Insider Activity at Intellia Therapeutics

In related news, CAO Michael P. Dube sold 2,641 shares of Intellia Therapeutics stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $16.78, for a total transaction of $44,315.98. Following the transaction, the chief accounting officer owned 66,886 shares of the company’s stock, valued at $1,122,347.08. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Edward J. Dulac III sold 4,677 shares of the company’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $18.00, for a total value of $84,186.00. Following the sale, the executive vice president owned 156,286 shares of the company’s stock, valued at $2,813,148. This trade represents a 2.91% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

Hedge funds have recently bought and sold shares of the company. Opaleye Management Inc. lifted its position in shares of Intellia Therapeutics by 2.0% during the second quarter. Opaleye Management Inc. now owns 250,000 shares of the company’s stock valued at $4,230,000 after purchasing an additional 5,000 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Intellia Therapeutics in the 2nd quarter worth about $34,000. Arizona State Retirement System grew its position in Intellia Therapeutics by 17.0% in the 2nd quarter. Arizona State Retirement System now owns 35,356 shares of the company’s stock worth $598,000 after purchasing an additional 5,131 shares in the last quarter. Nykredit A S purchased a new stake in Intellia Therapeutics in the 2nd quarter valued at about $33,000. Finally, Wellington Grp LLC lifted its position in shares of Intellia Therapeutics by 46.2% during the 2nd quarter. Wellington Grp LLC now owns 67,688 shares of the company’s stock worth $1,145,000 after buying an additional 21,391 shares in the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc is a biotechnology company focused on developing curative treatments using CRISPR-based gene-editing technology. The company’s approach is designed to make targeted changes to disease-associated genes, including through in vivo therapies that edit genes directly inside the body.

Intellia’s pipeline includes NTLA-2001, an investigational treatment designed to address transthyretin amyloidosis by editing the TTR gene, and NTLA-2002, an investigational therapy targeting hereditary angioedema through editing of the KLKB1 gene.