Intellia Therapeutics (NASDAQ:NTLA) Announces Earnings Results

Key Points

• Intellia Therapeutics reported quarterly EPS of -$0.81, beating analyst expectations of -$0.92, and revenue of $15.05 million, which also topped estimates of $13.81 million.
• The stock rose to $14.73 in midday trading after the earnings release, while still trading below its 52-week high of $28.25 and above its 52-week low of $6.83.
• Analysts remain mixed on NTLA, with the consensus rating at Hold and an average price target of $20.55; institutional ownership remains high at 88.77%.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) announced its quarterly earnings data on Monday. The company reported ($0.81) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.92) by $0.11, FiscalAI reports. Intellia Therapeutics had a negative net margin of 609.85% and a negative return on equity of 56.81%. The firm had revenue of $15.05 million for the quarter, compared to analysts' expectations of $13.81 million.

Intellia Therapeutics Price Performance

NTLA stock traded up $0.64 during midday trading on Monday, hitting $14.73. The company's stock had a trading volume of 4,126,629 shares, compared to its average volume of 5,303,502. Intellia Therapeutics has a twelve month low of $6.83 and a twelve month high of $28.25. The company's fifty day moving average price is $13.65 and its 200 day moving average price is $12.41. The stock has a market capitalization of $1.77 billion, a P/E ratio of -3.84 and a beta of 1.93.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NTLA. Truist Financial raised shares of Intellia Therapeutics to a "strong-buy" rating in a research note on Wednesday, March 25th. William Blair raised shares of Intellia Therapeutics from a "market perform" rating to an "outperform" rating in a research note on Monday, March 2nd. Robert W. Baird raised their price objective on shares of Intellia Therapeutics from $7.00 to $13.00 and gave the company a "neutral" rating in a research note on Monday, April 27th. HC Wainwright raised their price objective on shares of Intellia Therapeutics from $25.00 to $30.00 and gave the company a "buy" rating in a research note on Tuesday, March 3rd. Finally, KeyCorp set a $25.00 price target on shares of Intellia Therapeutics in a research report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Intellia Therapeutics has an average rating of "Hold" and an average target price of $20.55.

Institutional Investors Weigh In On Intellia Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in shares of Intellia Therapeutics during the 4th quarter worth about $245,000. Invesco Ltd. increased its stake in shares of Intellia Therapeutics by 5.8% during the 4th quarter. Invesco Ltd. now owns 433,290 shares of the company's stock worth $3,895,000 after purchasing an additional 23,870 shares during the last quarter. Axxcess Wealth Management LLC increased its stake in shares of Intellia Therapeutics by 20.1% during the 4th quarter. Axxcess Wealth Management LLC now owns 21,399 shares of the company's stock worth $192,000 after purchasing an additional 3,583 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Intellia Therapeutics during the 4th quarter worth about $90,000. Finally, XTX Topco Ltd acquired a new position in shares of Intellia Therapeutics during the 4th quarter worth about $402,000. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.

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