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

Key Points

• Intellia Therapeutics shares opened at $12.92 after closing at $12.27 the previous day, with a trading volume of 1,541,929 shares.
• Analysts have given Intellia a mixed outlook, with ratings including 11 Buy, 6 Hold, and 1 Sell, and a consensus price target of $27.11.
• The company posted earnings of ($0.99) per share, exceeding estimates, and its revenue increased by 104.3% year-over-year.

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $12.27, but opened at $12.92. Intellia Therapeutics shares last traded at $12.99, with a volume of 1,541,929 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NTLA. Royal Bank Of Canada decreased their price target 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. Canaccord Genuity Group lowered their price target on Intellia Therapeutics from $74.00 to $54.00 and set a "buy" rating on the stock in a research note on Tuesday, June 3rd. 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. Wall Street Zen upgraded Intellia Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. Finally, HC Wainwright upped their target price on Intellia Therapeutics from $25.00 to $30.00 and gave the company a "buy" rating in a research report on Friday. Eleven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Intellia Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $27.39.

Intellia Therapeutics Stock Down 3.2%

The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of -3.32 and a beta of 2.28. The stock's 50 day moving average price is $11.84 and its two-hundred day moving average price is $9.74.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.99) earnings per share for the quarter, beating the consensus estimate 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 revenue was up 104.3% on a year-over-year basis. During the same quarter last year, the company earned ($1.52) earnings per share. On average, equities analysts expect that Intellia Therapeutics, Inc. will post -5.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intellia Therapeutics news, EVP Edward J. Dulac III sold 7,462 shares of the business's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $14.02, for a total transaction of $104,617.24. Following the sale, the executive vice president directly owned 106,062 shares of the company's stock, valued at $1,486,989.24. The trade was a 6.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director William J. Chase bought 100,000 shares of the company's stock in a transaction dated Wednesday, August 20th. The stock was purchased at an average cost 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. This trade represents a 288.24% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 12,534 shares of company stock valued at $153,837. Company insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On Intellia Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of NTLA. GF Fund Management CO. LTD. acquired a new position in shares of Intellia Therapeutics during the fourth quarter valued at about $25,000. Headlands Technologies LLC bought a new stake in shares of Intellia Therapeutics in the second quarter valued at approximately $26,000. Whipplewood Advisors LLC increased its holdings in Intellia Therapeutics by 114,900.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 3,450 shares of the company's stock worth $32,000 after acquiring an additional 3,447 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Intellia Therapeutics by 56.4% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,590 shares of the company's stock worth $33,000 after acquiring an additional 1,655 shares during the period. Finally, Harbour Investments Inc. grew its stake in Intellia Therapeutics by 76.7% in the 1st quarter. Harbour Investments Inc. now owns 5,214 shares of the company's stock worth $37,000 after buying an additional 2,264 shares in the last quarter. 88.77% of the stock is 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.