Intellia Therapeutics (NASDAQ:NTLA) Shares Gap Up - Still a Buy?

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $8.96, but opened at $10.03. Intellia Therapeutics shares last traded at $9.89, with a volume of 2,272,951 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NTLA shares. Wedbush reaffirmed a "neutral" rating and set a $7.00 price target on shares of Intellia Therapeutics in a report on Monday. Wells Fargo & Company decreased their price target on shares of Intellia Therapeutics from $60.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Wolfe Research upgraded shares of Intellia Therapeutics from a "peer perform" rating to an "outperform" rating and set a $21.00 target price on the stock in a research note on Monday, April 21st. Guggenheim cut their price objective on Intellia Therapeutics from $55.00 to $45.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $13.00 target price (down previously from $45.00) on shares of Intellia Therapeutics in a research report on Friday, February 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Intellia Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $34.95.

Intellia Therapeutics Stock Down 4.2%

The firm has a market cap of $952.94 million, a price-to-earnings ratio of -1.76 and a beta of 2.14. The stock's 50 day moving average is $8.30 and its 200 day moving average is $9.70.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($1.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.26) by $0.16. Intellia Therapeutics had a negative net margin of 1,154.10% and a negative return on equity of 56.06%. The company had revenue of $16.63 million for the quarter, compared to analysts' expectations of $11.39 million. During the same quarter in the previous year, the company posted ($1.12) EPS. The business's revenue was down 42.6% compared to the same quarter last year. Analysts anticipate that Intellia Therapeutics, Inc. will post -5.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NTLA. Regeneron Pharmaceuticals Inc. acquired a new position in shares of Intellia Therapeutics in the 4th quarter worth $43,177,000. Voloridge Investment Management LLC lifted its holdings in shares of Intellia Therapeutics by 226.8% during the fourth quarter. Voloridge Investment Management LLC now owns 1,526,994 shares of the company's stock valued at $17,805,000 after purchasing an additional 1,059,751 shares during the last quarter. Contrarius Group Holdings Ltd acquired a new position in shares of Intellia Therapeutics in the 4th quarter valued at $11,798,000. Two Sigma Advisers LP increased its stake in Intellia Therapeutics by 94.5% in the 4th quarter. Two Sigma Advisers LP now owns 1,998,317 shares of the company's stock worth $23,300,000 after purchasing an additional 970,700 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake in Intellia Therapeutics by 88.1% in the 4th quarter. Two Sigma Investments LP now owns 1,843,743 shares of the company's stock worth $21,498,000 after purchasing an additional 863,363 shares in the last quarter. 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.