Intellia Therapeutics (NASDAQ:NTLA) Sets New 1-Year High - Should You Buy?

Key Points

• Intellia Therapeutics recently reached a new 52-week high of $28.18, closing at $27.29 with significant trading volume of over 2.1 million shares.
• Analyst ratings are mixed, with 13 analysts rating the stock as a Buy and recent price targets ranging from $21.00 to $60.00, indicating a potential uptrend.
• The company reported a revenue increase of 104.3% year-over-year, with earnings per share of ($0.99), slightly exceeding expectations of ($1.03).

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $28.18 and last traded at $27.29, with a volume of 2132777 shares traded. The stock had previously closed at $24.75.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NTLA shares. Chardan Capital cut their price objective on Intellia Therapeutics from $68.00 to $60.00 and set a "buy" rating for the company in a report on Monday, August 11th. Royal Bank Of Canada cut their target price on Intellia Therapeutics from $25.00 to $21.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. JMP Securities raised Intellia Therapeutics from a "market perform" rating to a "market outperform" rating and set a $33.00 target price for the company in a research note on Monday, October 6th. Wall Street Zen raised Intellia Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. Finally, Citizens Jmp raised Intellia Therapeutics from a "market perform" rating to an "outperform" rating and set a $33.00 target price for the company in a research note on Monday, October 6th. Thirteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $27.95.

Intellia Therapeutics Stock Up 11.8%

The stock has a market cap of $2.97 billion, a P/E ratio of -5.90 and a beta of 2.37. The company has a 50-day simple moving average of $15.29 and a two-hundred day simple moving average of $11.44.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.99) EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $12.26 million. During the same period in the prior year, the business earned ($1.52) EPS. The company's revenue for the quarter was up 104.3% on a year-over-year basis. As a group, sell-side analysts forecast that Intellia Therapeutics, Inc. will post -5.07 earnings per share for the current fiscal year.

Insider Transactions at Intellia Therapeutics

In other news, Director William J. Chase purchased 100,000 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were bought at an average cost 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 trade represents a 288.24% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Michael P. Dube sold 1,871 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $17.38, for a total value of $32,517.98. Following the completion of the transaction, the chief accounting officer owned 55,266 shares of the company's stock, valued at approximately $960,523.08. This trade represents a 3.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,364 shares of company stock valued at $137,674. Corporate insiders own 3.10% of the company's stock.

Hedge Funds Weigh In On Intellia Therapeutics

Hedge funds have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted its stake in Intellia Therapeutics by 51.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,726 shares of the company's stock worth $140,000 after purchasing an additional 6,722 shares in the last quarter. D.A. Davidson & CO. boosted its stake in Intellia Therapeutics by 76.2% in the 1st quarter. D.A. Davidson & CO. now owns 26,020 shares of the company's stock worth $185,000 after purchasing an additional 11,250 shares in the last quarter. Voya Investment Management LLC boosted its stake in Intellia Therapeutics by 621.5% in the 1st quarter. Voya Investment Management LLC now owns 208,009 shares of the company's stock worth $1,479,000 after purchasing an additional 179,180 shares in the last quarter. Ballentine Partners LLC bought a new position in Intellia Therapeutics in the 2nd quarter worth about $161,000. Finally, Cyndeo Wealth Partners LLC bought a new position in Intellia Therapeutics in the 2nd quarter worth about $101,000. Institutional investors own 88.77% of the company's stock.

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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