Intellia Therapeutics (NASDAQ:NTLA) Shares Gap Up After Insider Buying Activity

Key Points

• Intellia Therapeutics shares gapped up from $10.52 to $11.07 following a significant insider purchase by Director William J. Chase, who bought 100,000 shares for $1 million.
• Analyst reports indicate mixed sentiment with target prices ranging from $10.00 to $54.00, and a consensus rating of "Moderate Buy."
• Intellia's most recent earnings report showed a revenue increase of 104.3% year over year, exceeding expectations with revenue of $14.25 million despite a loss of ($0.99) EPS.

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report)'s share price gapped up prior to trading on Monday after an insider bought additional shares in the company. The stock had previously closed at $10.52, but opened at $11.07. Intellia Therapeutics shares last traded at $11.34, with a volume of 1,615,773 shares changing hands.

Specifically, Director William J. Chase acquired 100,000 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was purchased at an average price of $10.03 per share, with a total value of $1,003,000.00. Following the acquisition, the director directly owned 134,693 shares of the company's stock, valued at approximately $1,350,970.79. This trade represents a 288.24% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

NTLA has been the subject of several analyst reports. Royal Bank Of Canada dropped their target price 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. Wells Fargo & Company restated 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. Guggenheim restated a "buy" rating and issued a $14.00 target price on shares of Intellia Therapeutics in a research report on Wednesday, August 13th. Citigroup dropped their target price on shares of Intellia Therapeutics from $14.00 to $10.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Finally, Canaccord Genuity Group dropped their target price on shares of Intellia Therapeutics from $74.00 to $54.00 and set a "buy" rating for the company in a research report on Tuesday, June 3rd. Twelve equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Intellia Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $29.05.

Intellia Therapeutics Trading Up 8.6%

The stock's 50-day moving average is $11.08 and its 200-day moving average is $9.51. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -2.42 and a beta of 2.31.

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 (EPS) for the quarter, topping analysts' consensus estimates of ($1.03) by $0.04. The business had revenue of $14.25 million during the quarter, compared to analysts' expectations of $12.26 million. Intellia Therapeutics had a negative net margin of 908.48% and a negative return on equity of 57.48%. The firm's quarterly revenue was up 104.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.52) EPS. On average, equities research analysts anticipate that Intellia Therapeutics, Inc. will post -5.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Intellia Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. acquired a new position in Intellia Therapeutics in the 4th quarter valued at approximately $25,000. Headlands Technologies LLC acquired a new position in Intellia Therapeutics in the 2nd quarter valued at approximately $26,000. Whipplewood Advisors LLC increased its position in Intellia Therapeutics by 114,900.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 3,450 shares of the company's stock valued at $32,000 after acquiring an additional 3,447 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Intellia Therapeutics by 56.4% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,590 shares of the company's stock valued at $33,000 after purchasing an additional 1,655 shares during the last quarter. Finally, Harbour Investments Inc. boosted its stake in shares of Intellia Therapeutics by 76.7% in the 1st quarter. Harbour Investments Inc. now owns 5,214 shares of the company's stock valued at $37,000 after purchasing an additional 2,264 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

About Intellia Therapeutics

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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