Intellia Therapeutics (NASDAQ:NTLA) Hits New 1-Year High on Analyst Upgrade

Key Points

• Intellia Therapeutics' share price reached a new 52-week high of $21.49 following an upgrade by Citizens Jmp, raising the stock's target price to $33.00.
• Despite the positive upgrade, other analysts have set lower price targets, with Chardan Capital reducing theirs to $60.00 and Royal Bank of Canada lowering it to $21.00.
• Intellia reported a 104.3% increase in revenue year-over-year, with earnings of ($0.99) per share, beating analyst expectations, although the company continues to operate at a significant loss.

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report)'s share price hit a new 52-week high on Monday after Citizens Jmp upgraded the stock from a market perform rating to an outperform rating. Citizens Jmp now has a $33.00 price target on the stock. Intellia Therapeutics traded as high as $21.49 and last traded at $20.96, with a volume of 438951 shares. The stock had previously closed at $19.96.

Other research analysts have also recently issued reports about the company. Chardan Capital lowered their target price on Intellia Therapeutics from $68.00 to $60.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Royal Bank Of Canada lowered their target price on Intellia Therapeutics from $25.00 to $21.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. JMP Securities upgraded Intellia Therapeutics from a "market perform" rating to a "market outperform" rating and set a $33.00 target price on the stock in a report on Monday. Wedbush reiterated a "neutral" rating and issued a $7.00 price objective on shares of Intellia Therapeutics in a report on Monday, June 16th. Finally, Guggenheim reiterated a "buy" rating and issued a $14.00 price objective on shares of Intellia Therapeutics in a report on Wednesday, August 13th. Thirteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $27.95.

Insider Transactions at Intellia Therapeutics

In other news, CAO Michael P. Dube sold 1,871 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $17.38, for a total transaction of $32,517.98. Following the transaction, the chief accounting officer directly owned 55,266 shares in the company, valued at approximately $960,523.08. This represents a 3.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William J. Chase bought 100,000 shares of Intellia Therapeutics stock in a transaction dated Wednesday, August 20th. The shares were bought at an average price of $10.03 per share, for a total transaction of $1,003,000.00. Following the completion of the transaction, the director directly owned 134,693 shares of the company's stock, valued at $1,350,970.79. This represents a 288.24% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 9,364 shares of company stock worth $137,674. Corporate insiders own 3.10% of the company's stock.

Hedge Funds Weigh In On Intellia Therapeutics

A number of large investors have recently modified their holdings of NTLA. California State Teachers Retirement System lifted its position in shares of Intellia Therapeutics by 4.1% during the fourth quarter. California State Teachers Retirement System now owns 90,638 shares of the company's stock worth $1,057,000 after purchasing an additional 3,596 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Intellia Therapeutics by 1,961.2% in the first quarter. GAMMA Investing LLC now owns 7,544 shares of the company's stock valued at $540,000 after buying an additional 7,178 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in Intellia Therapeutics in the first quarter valued at approximately $98,000. Cambridge Investment Research Advisors Inc. lifted its holdings in Intellia Therapeutics by 51.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,726 shares of the company's stock valued at $140,000 after buying an additional 6,722 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Intellia Therapeutics by 30.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 16,798 shares of the company's stock valued at $112,000 after buying an additional 3,935 shares during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Intellia Therapeutics Stock Up 6.2%

The company's fifty day moving average is $12.88 and its two-hundred day moving average is $10.33. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of -4.52 and a beta of 2.37.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.99) earnings per share for the quarter, beating the consensus estimate of ($1.03) by $0.04. Intellia Therapeutics had a negative net margin of 908.48% and a negative return on equity of 57.48%. The business had revenue of $14.25 million for the quarter, compared to analyst estimates of $12.26 million. During the same period in the prior year, the business posted ($1.52) earnings per share. Intellia Therapeutics's revenue was up 104.3% compared to the same quarter last year. On average, equities research analysts expect that Intellia Therapeutics, Inc. will post -5.07 EPS for the current year.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc, a genome editing company, focuses on the development of curative therapeutics. The company's in vivo programs include NTLA-2001, which is in Phase 1 clinical trial for the treatment of transthyretin amyloidosis; NTLA-2002 for the treatment of hereditary angioedema; and NTLA-3001 for alpha-1 antitrypsin deficiency associated lung disease.

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