Intellia Therapeutics (NASDAQ:NTLA) Issues Earnings Results

Key Points

• Intellia missed quarterly expectations: It reported a loss of $0.91 per share versus analysts’ expected loss of $0.80, while revenue of $7.16 million fell short of the $9.74 million consensus and declined 47.8% year over year.
• Shares rose 2.3% to $11.35 on Friday after the results.
• Analyst views are mixed, with an overall Hold rating and an average price target of $20.57; recent recommendations range from outperform to underweight.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) posted its quarterly earnings results on Thursday. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.80) by ($0.11), FiscalAI reports. The firm had revenue of $7.16 million for the quarter, compared to analysts' expectations of $9.74 million. Intellia Therapeutics had a negative net margin of 672.16% and a negative return on equity of 57.79%. Intellia Therapeutics's revenue was down 47.8% on a year-over-year basis. During the same period last year, the firm posted ($0.92) EPS.

Intellia Therapeutics Stock Up 2.3%

Shares of NASDAQ NTLA traded up $0.25 on Friday, hitting $11.35. The company had a trading volume of 4,402,763 shares, compared to its average volume of 5,128,128. Intellia Therapeutics has a 12-month low of $7.95 and a 12-month high of $18.48. The business has a 50 day moving average of $12.13 and a two-hundred day moving average of $13.06. The firm has a market capitalization of $1.59 billion, a P/E ratio of -3.38 and a beta of 1.83.

Analyst Ratings Changes

NTLA has been the topic of several research analyst reports. Evercore raised Intellia Therapeutics from a "hold" rating to an "outperform" rating and set a $24.00 price objective on the stock in a research note on Friday, August 7th. Citizens Jmp reissued a "market outperform" rating and set a $30.00 target price on shares of Intellia Therapeutics in a research report on Wednesday, September 9th. Wolfe Research lowered shares of Intellia Therapeutics from a "peer perform" rating to an "underperform" rating and set a $9.00 price target on the stock. in a report on Wednesday, July 15th. 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. Finally, Barclays started coverage on shares of Intellia Therapeutics in a research note on Tuesday, October 6th. They set an "underweight" rating and a $8.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, Intellia Therapeutics currently has an average rating of "Hold" and an average target price of $20.57.

Insider Activity

In related news, CEO John M. Leonard sold 9,000 shares of the firm's stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $11.99, for a total transaction of $107,910.00. Following the sale, the chief executive officer directly owned 1,138,064 shares in the company, valued at approximately $13,645,387.36. This trade represents a 0.78% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 3.50% of the company's stock.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc is a biotechnology company focused on developing potentially curative treatments using CRISPR-based gene-editing technology. The company is working to create therapies that can modify disease-causing genes inside the body, with the goal of addressing the underlying causes of serious genetic diseases rather than treating only their symptoms.

Intellia's pipeline has included NTLA-2001, an investigational in vivo gene-editing therapy designed to reduce production of transthyretin for the treatment of transthyretin amyloidosis, and NTLA-2002, an investigational therapy intended to target hereditary angioedema.

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