Intellia Therapeutics (NASDAQ:NTLA) Shares Up 6.3% - Time to Buy?

Key Points

• Intellia Therapeutics shares increased by 6.3%, trading as high as $12.30, with overall trading volume down 40% from its average.
• Guggenheim and Wells Fargo recently reiterated 'buy' ratings for the stock, suggesting a favorable outlook from several analysts, despite some lowering their price targets.
• The company reported a quarterly revenue growth of 104.3%, beating estimates, while continuing to experience negative earnings per share.

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report)'s stock price traded up 6.3% during trading on Tuesday . The stock traded as high as $12.24 and last traded at $12.30. 2,467,475 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 4,093,439 shares. The stock had previously closed at $11.57.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Wedbush reissued a "neutral" rating and issued a $7.00 target price on shares of Intellia Therapeutics in a report on Monday, June 16th. Royal Bank Of Canada dropped their price objective on Intellia Therapeutics from $25.00 to $21.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. HC Wainwright raised their price objective on Intellia Therapeutics from $25.00 to $30.00 and gave the stock a "buy" rating in a report on Friday. JMP Securities reaffirmed a "market perform" rating on shares of Intellia Therapeutics in a report on Friday. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $45.00 price objective (down previously from $50.00) on shares of Intellia Therapeutics in a report on Friday, August 8th. Eleven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $27.39.

Intellia Therapeutics Price Performance

The firm has a market cap of $1.67 billion, a price-to-earnings ratio of -3.32 and a beta of 2.28. The firm'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 announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.99) earnings per share for the quarter, beating analysts' consensus estimates of ($1.03) by $0.04. Intellia Therapeutics had a negative return on equity of 57.48% and a negative net margin of 908.48%.The company had revenue of $14.25 million for the quarter, compared to analyst estimates of $12.26 million. During the same quarter in the previous year, the company earned ($1.52) EPS. The firm's revenue for the quarter was up 104.3% compared to the same quarter last year. On average, analysts anticipate that Intellia Therapeutics, Inc. will post -5.07 earnings per share for the current year.

Insider Buying and Selling

In other Intellia Therapeutics news, Director William J. Chase acquired 100,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were bought at an average price of $10.03 per share, with a total value of $1,003,000.00. Following the acquisition, the director owned 134,693 shares of the company's stock, valued at $1,350,970.79. This trade represents a 288.24% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Edward J. Dulac III sold 7,462 shares of Intellia Therapeutics stock in a transaction that occurred on 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 owned 106,062 shares of the company's stock, valued at approximately $1,486,989.24. The trade was a 6.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,534 shares of company stock worth $153,837 in the last ninety days. 3.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intellia Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of NTLA. Millennium Management LLC raised its position in shares of Intellia Therapeutics by 190.5% during the 4th quarter. Millennium Management LLC now owns 668,926 shares of the company's stock worth $7,800,000 after purchasing an additional 438,625 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Intellia Therapeutics by 38.0% during the 4th quarter. ProShare Advisors LLC now owns 33,404 shares of the company's stock worth $389,000 after purchasing an additional 9,196 shares during the last quarter. Squarepoint Ops LLC raised its position in shares of Intellia Therapeutics by 58.8% during the 4th quarter. Squarepoint Ops LLC now owns 101,417 shares of the company's stock worth $1,183,000 after purchasing an additional 37,533 shares during the last quarter. Voloridge Investment Management LLC raised its position in shares of Intellia Therapeutics by 226.8% during the 4th quarter. Voloridge Investment Management LLC now owns 1,526,994 shares of the company's stock worth $17,805,000 after purchasing an additional 1,059,751 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Intellia Therapeutics by 5.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 483,185 shares of the company's stock worth $5,634,000 after purchasing an additional 23,173 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.