Intellia Therapeutics (NASDAQ:NTLA) Shares Up 8% - What's Next?

Key Points

• Intellia Therapeutics shares rose by 8%, reaching a last traded price of $18.45, despite a significant drop in trading volume.
• The company's recent earnings reported a revenue increase of 104.3% year-over-year, with an EPS of ($0.99), surpassing analyst expectations.
• In terms of analyst ratings, Intellia Therapeutics has a consensus rating of "Moderate Buy" with an average price target of $27.39.

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) rose 8% during trading on Wednesday . The stock traded as high as $18.47 and last traded at $18.45. Approximately 1,948,186 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 4,285,542 shares. The stock had previously closed at $17.08.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Guggenheim reaffirmed a "buy" rating and set a $14.00 price target on shares of Intellia Therapeutics in a research note on Wednesday, August 13th. HC Wainwright increased their price objective on shares of Intellia Therapeutics from $25.00 to $30.00 and gave the stock a "buy" rating in a report on Friday, September 19th. JMP Securities reiterated a "market perform" rating on shares of Intellia Therapeutics in a research note on Friday, September 19th. Wedbush reissued a "neutral" rating and set a $7.00 price target on shares of Intellia Therapeutics in a research report on Monday, June 16th. Finally, Royal Bank Of Canada cut their target price on Intellia Therapeutics from $25.00 to $21.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Eleven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Intellia Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $27.39.

Intellia Therapeutics Price Performance

The stock has a market cap of $1.93 billion, a P/E ratio of -3.85 and a beta of 2.28. The company has a 50 day simple moving average of $12.05 and a 200-day simple moving average of $9.84.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.99) EPS for the quarter, topping analysts' consensus estimates of ($1.03) by $0.04. The firm had revenue of $14.25 million for the quarter, compared to analysts' expectations of $12.26 million. Intellia Therapeutics had a negative return on equity of 57.48% and a negative net margin of 908.48%.The business's revenue for the quarter was up 104.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.52) EPS. As a group, research analysts expect 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 purchased 100,000 shares of Intellia Therapeutics stock in a transaction dated Wednesday, August 20th. The shares were acquired at an average cost of $10.03 per share, with a total value of $1,003,000.00. Following the completion of the transaction, the director owned 134,693 shares in the company, valued at approximately $1,350,970.79. This trade represents a 288.24% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Edward J. Dulac III sold 7,462 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was 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 in the company, 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 12,534 shares of company stock valued at $153,837 in the last three months. 3.10% of the stock is currently owned by insiders.

Institutional Trading of Intellia Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. increased its position in shares of Intellia Therapeutics by 51.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,726 shares of the company's stock worth $140,000 after acquiring an additional 6,722 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Intellia Therapeutics by 76.2% during the first quarter. D.A. Davidson & CO. now owns 26,020 shares of the company's stock worth $185,000 after purchasing an additional 11,250 shares during the period. Voya Investment Management LLC raised its position in shares of Intellia Therapeutics by 621.5% in the first quarter. Voya Investment Management LLC now owns 208,009 shares of the company's stock valued at $1,479,000 after purchasing an additional 179,180 shares during the period. California State Teachers Retirement System grew its stake in shares of Intellia Therapeutics by 4.1% in the fourth quarter. California State Teachers Retirement System now owns 90,638 shares of the company's stock worth $1,057,000 after acquiring an additional 3,596 shares during the last quarter. Finally, XTX Topco Ltd boosted its stake in shares of Intellia Therapeutics by 84.2% in the 1st quarter. XTX Topco Ltd now owns 80,897 shares of the company's stock valued at $575,000 after purchasing an additional 36,989 shares in the last quarter. Hedge funds and other institutional investors own 88.77% of the company's stock.

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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