Intellia Therapeutics (NASDAQ:NTLA) Given New $30.00 Price Target at HC Wainwright

Key Points

• HC Wainwright has increased the target price for Intellia Therapeutics (NTLA) from $25.00 to $30.00, indicating a potential upside of 86.22% from the stock's previous close.
• Intellia Therapeutics recently reported a revenue increase of 104.3% year-over-year, with earnings per share of ($0.99), beating the consensus estimate.
• Insider trading activity included Director William J. Chase acquiring 100,000 shares at an average cost of $10.03, representing a 288.24% increase in his ownership of the stock.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) had its target price hoisted by HC Wainwright from $25.00 to $30.00 in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage presently has a "buy" rating on the stock. HC Wainwright's price target suggests a potential upside of 73.81% from the stock's current price.

A number of other research analysts also recently issued reports on NTLA. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $45.00 price objective (down previously from $50.00) on shares of Intellia Therapeutics in a research report on Friday, August 8th. Royal Bank Of Canada cut their price target on shares of Intellia Therapeutics from $25.00 to $21.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Chardan Capital reduced their price target on Intellia Therapeutics from $68.00 to $60.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. Guggenheim reissued a "buy" rating and issued a $14.00 price objective on shares of Intellia Therapeutics in a research report on Wednesday, August 13th. Finally, Wall Street Zen raised Intellia Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. Eleven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Intellia Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $27.39.

Intellia Therapeutics Stock Up 10.7%

NTLA stock traded up $1.67 during trading on Friday, hitting $17.26. 8,837,671 shares of the company's stock traded hands, compared to its average volume of 4,293,118. The firm has a market capitalization of $1.85 billion, a P/E ratio of -3.68 and a beta of 2.28. Intellia Therapeutics has a 1 year low of $5.90 and a 1 year high of $21.94. The business has a fifty day simple moving average of $11.84 and a two-hundred day simple moving average of $9.74.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last issued 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. The company had revenue of $14.25 million for the quarter, compared to the consensus estimate of $12.26 million. Intellia Therapeutics had a negative return on equity of 57.48% and a negative net margin of 908.48%.The firm's revenue for the quarter was up 104.3% compared to the same quarter last year. During the same quarter last year, the company earned ($1.52) earnings per share. On average, equities research analysts predict that Intellia Therapeutics will post -5.07 EPS for the current fiscal year.

Insider Activity

In other news, Director William J. Chase acquired 100,000 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was bought at an average cost of $10.03 per share, for a total transaction of $1,003,000.00. Following the purchase, the director owned 134,693 shares in the company, valued at approximately $1,350,970.79. This represents a 288.24% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Edward J. Dulac III sold 7,462 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $14.02, for a total value of $104,617.24. Following the sale, the executive vice president owned 106,062 shares of the company's stock, valued at $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. In the last 90 days, insiders sold 12,534 shares of company stock valued at $153,837. 3.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intellia Therapeutics

A number of large investors have recently modified their holdings of the business. Voloridge Investment Management LLC grew its position in shares of Intellia Therapeutics by 226.8% in 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 in the last quarter. Marex Group plc acquired a new position in Intellia Therapeutics during the second quarter worth $5,849,000. Vanguard Group Inc. grew its holdings in Intellia Therapeutics by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 10,752,031 shares of the company's stock valued at $76,447,000 after buying an additional 561,978 shares in the last quarter. ARK Investment Management LLC raised its stake in Intellia Therapeutics by 3.8% during the first quarter. ARK Investment Management LLC now owns 13,011,015 shares of the company's stock worth $92,508,000 after purchasing an additional 474,629 shares during the period. Finally, 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 valued at $7,800,000 after buying an additional 438,625 shares during the period. 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.