Intellia Therapeutics (NASDAQ:NTLA) Sees Unusually-High Trading Volume - Still a Buy?

Key Points

• Intellia Therapeutics experienced a significant trading volume increase, with approximately 3.87 million shares traded, although this is a decrease from the previous day's volume.
• Analysts have mixed views on Intellia, with target price adjustments from various firms, resulting in a consensus rating of "Moderate Buy" and an average price target of $27.11.
• The company reported a revenue increase of 104.3% year-over-year, with earnings per share of ($0.99), surpassing analysts' expectations.

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) saw strong trading volume on Thursday . 3,871,618 shares traded hands during trading, a decline of 6% from the previous session's volume of 4,129,482 shares.The stock last traded at $14.54 and had previously closed at $12.41.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NTLA. Wells Fargo & Company reissued an "overweight" rating and issued a $45.00 target price (down from $50.00) on shares of Intellia Therapeutics in a research report on Friday, August 8th. Wall Street Zen raised shares of Intellia Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. Canaccord Genuity Group reduced their target price on shares of Intellia Therapeutics from $74.00 to $54.00 and set a "buy" rating for the company in a report on Tuesday, June 3rd. Royal Bank Of Canada cut their price objective on shares of Intellia Therapeutics from $25.00 to $21.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Intellia Therapeutics in a report on Friday. Eleven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.39.

Intellia Therapeutics Stock Up 10.7%

The stock has a fifty day simple moving average of $11.84 and a 200 day simple moving average of $9.74. The firm has a market capitalization of $1.85 billion, a P/E ratio of -3.68 and a beta of 2.28.

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

Insider Activity at Intellia Therapeutics

In other news, EVP Edward J. Dulac III sold 7,462 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $14.02, for a total value of $104,617.24. Following the transaction, the executive vice president owned 106,062 shares of the company's stock, valued at approximately $1,486,989.24. The trade was a 6.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William J. Chase purchased 100,000 shares of Intellia Therapeutics stock in a transaction on Wednesday, August 20th. The stock was bought at an average price of $10.03 per share, for a total transaction of $1,003,000.00. Following the completion of the acquisition, the director owned 134,693 shares in the company, valued at $1,350,970.79. The trade was a 288.24% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 12,534 shares of company stock worth $153,837. Company insiders own 3.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. raised its stake in Intellia Therapeutics by 13.4% during the second quarter. Osaic Holdings Inc. now owns 20,064 shares of the company's stock valued at $188,000 after purchasing an additional 2,373 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new position in shares of Intellia Therapeutics in the 2nd quarter valued at about $52,000. Marex Group plc bought a new stake in Intellia Therapeutics during the second quarter worth approximately $5,849,000. Headlands Technologies LLC bought a new stake in shares of Intellia Therapeutics in the 2nd quarter valued at approximately $26,000. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in shares of Intellia Therapeutics by 89.7% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 21,752 shares of the company's stock worth $204,000 after purchasing an additional 10,283 shares during the period. 88.77% of the stock is currently owned by institutional investors.

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.