Intellia Therapeutics (NASDAQ:NTLA) Shares Gap Up - Time to Buy?

Key Points

• Intellia Therapeutics' shares gapped up to $11.30 after opening at $11.30, but are currently trading at $10.95 with a significant volume of 1,315,929 shares.
• Analysts have mixed ratings for Intellia, with twelve expressing a "buy" rating and a consensus target price of $29.05, while some price targets have been significantly reduced.
• Intellia reported a revenue growth of 104.3% year-over-year, posting $14.25 million in revenue for the last quarter, which exceeded analyst estimates.

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $11.00, but opened at $11.30. Intellia Therapeutics shares last traded at $10.95, with a volume of 1,315,929 shares changing hands.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wedbush restated a "neutral" rating and set a $7.00 price target on shares of Intellia Therapeutics in a research report on Monday, June 16th. Royal Bank Of Canada reduced their price target 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. Chardan Capital reduced their price target on shares of Intellia Therapeutics from $68.00 to $60.00 and set a "buy" rating for the company in a research report on Monday. HC Wainwright reduced their price target on shares of Intellia Therapeutics from $30.00 to $25.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Finally, Guggenheim restated a "buy" rating and set a $14.00 price target on shares of Intellia Therapeutics in a research report on Wednesday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $29.05.

Intellia Therapeutics Stock Up 1.0%

The firm's 50-day simple moving average is $10.75 and its 200-day simple moving average is $9.50. The firm has a market capitalization of $1.19 billion, a PE ratio of -2.38 and a beta of 2.31.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.99) earnings per share for the quarter, topping analysts' consensus estimates of ($1.03) by $0.04. The company had revenue of $14.25 million during the quarter, compared to analyst estimates of $12.26 million. Intellia Therapeutics had a negative net margin of 908.48% and a negative return on equity of 57.48%. Intellia Therapeutics's revenue for the quarter was up 104.3% on a year-over-year basis. During the same period in the prior year, the business posted ($1.52) earnings per share. On average, equities research analysts forecast that Intellia Therapeutics, Inc. will post -5.07 earnings per share for the current year.

Insider Buying and Selling at Intellia Therapeutics

In other news, EVP Edward J. Dulac III sold 7,462 shares of the 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 completion of the sale, the executive vice president directly owned 106,062 shares in the company, valued at approximately $1,486,989.24. This represents a 6.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 12,534 shares of company stock worth $153,837 in the last ninety days. Corporate insiders own 3.10% of the company's stock.

Institutional Trading of Intellia Therapeutics

Institutional investors have recently modified their holdings of the company. GF Fund Management CO. LTD. bought a new position in Intellia Therapeutics in the fourth quarter worth about $25,000. Whipplewood Advisors LLC raised its stake in Intellia Therapeutics by 114,900.0% in the second quarter. Whipplewood Advisors LLC now owns 3,450 shares of the company's stock worth $32,000 after buying an additional 3,447 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Intellia Therapeutics by 56.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,590 shares of the company's stock worth $33,000 after buying an additional 1,655 shares in the last quarter. Sterling Capital Management LLC raised its stake in Intellia Therapeutics by 866.2% in the fourth quarter. Sterling Capital Management LLC now owns 3,198 shares of the company's stock worth $37,000 after buying an additional 2,867 shares in the last quarter. Finally, Harbour Investments Inc. raised its stake in Intellia Therapeutics by 76.7% in the first 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 currently owned by hedge funds and other 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.

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