Intellia Therapeutics (NASDAQ:NTLA) Shares Gap Down - What's Next?

Key Points

• Shares gapped down — NTLA opened at $12.14 after a $13.20 close and was last trading around $11.94 (down about 8.8%) on roughly 9.55 million shares.
• Analyst views are mixed with one Strong Buy, nine Buy, ten Hold and three Sell ratings; the consensus is a "Hold" with an average price target of $20.09 and individual targets ranging from $9 to $35.
• Fundamentals show growth but continued losses — Intellia beat quarterly EPS and revenue estimates (EPS -$0.83 vs -$0.99; revenue $23.02M vs $12.17M, +78% YoY) but remains unprofitable with a very negative net margin, and institutional ownership is high (~88.8%) with ARK, Vanguard and State Street increasing stakes.

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $13.20, but opened at $12.14. Intellia Therapeutics shares last traded at $11.94, with a volume of 9,545,909 shares.

Analysts Set New Price Targets

A number of analysts have weighed in on NTLA shares. The Goldman Sachs Group increased their target price on shares of Intellia Therapeutics from $8.00 to $9.00 and gave the stock a "sell" rating in a report on Tuesday. Leerink Partners set a $35.00 target price on shares of Intellia Therapeutics in a report on Monday. HC Wainwright increased their target price on shares of Intellia Therapeutics from $25.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, March 3rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Intellia Therapeutics in a report on Tuesday, April 21st. Finally, Wells Fargo & Company upped their target price on Intellia Therapeutics from $12.00 to $15.00 and gave the company an "equal weight" rating in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $20.09.

Intellia Therapeutics Trading Down 8.8%

The company's 50-day moving average price is $13.61 and its two-hundred day moving average price is $12.81. The company has a market cap of $1.42 billion, a P/E ratio of -3.14 and a beta of 1.99.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($0.99) by $0.16. The business had revenue of $23.02 million for the quarter, compared to analysts' expectations of $12.17 million. Intellia Therapeutics had a negative net margin of 609.85% and a negative return on equity of 56.81%. Intellia Therapeutics's revenue was up 78.4% on a year-over-year basis. During the same period in the previous year, the company posted ($1.27) EPS. Equities analysts forecast that Intellia Therapeutics, Inc. will post -3.53 earnings per share for the current year.

Institutional Trading of Intellia Therapeutics

Large investors have recently added to or reduced their stakes in the business. Contrarius Group Holdings Ltd increased its position in Intellia Therapeutics by 279.4% during the third quarter. Contrarius Group Holdings Ltd now owns 5,889,936 shares of the company's stock worth $101,719,000 after buying an additional 4,337,428 shares during the last quarter. ARK Investment Management LLC increased its position in Intellia Therapeutics by 19.2% during the fourth quarter. ARK Investment Management LLC now owns 14,207,324 shares of the company's stock worth $127,724,000 after buying an additional 2,288,146 shares during the last quarter. Vanguard Group Inc. increased its position in Intellia Therapeutics by 17.8% during the fourth quarter. Vanguard Group Inc. now owns 13,010,001 shares of the company's stock worth $116,960,000 after buying an additional 1,965,181 shares during the last quarter. State Street Corp increased its position in Intellia Therapeutics by 29.1% during the fourth quarter. State Street Corp now owns 6,418,836 shares of the company's stock worth $57,705,000 after buying an additional 1,447,967 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in Intellia Therapeutics during the third quarter worth $23,519,000. 88.77% of the stock is owned by institutional investors.

About Intellia Therapeutics

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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