Intellia Therapeutics (NASDAQ:NTLA) Stock Price Up 10.7% - Here's What Happened

Key Points

• Intellia Therapeutics shares climbed 10.7% to about $12.84 in mid-day trading, although trading volume was 45% below the average session volume.
• Analyst sentiment remains mixed: the stock carries an average “Hold” rating and a $21.15 price target, with targets ranging from $9 to $25.
• The company reported quarterly revenue of $7.66 million, below the $12.98 million estimate, while its adjusted loss of $0.80 per share matched expectations; institutional investors own 88.77% of the stock.

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) rose 10.7% during mid-day trading on Wednesday . The company traded as high as $12.81 and last traded at $12.8360. 2,912,155 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 5,297,498 shares. The stock had previously closed at $11.60.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. HC Wainwright reiterated a "buy" rating and issued a $25.00 target price on shares of Intellia Therapeutics in a report on Monday, June 15th. New Street Research set a $25.00 price objective on Intellia Therapeutics in a report on Monday, June 15th. The Goldman Sachs Group upped their price target on shares of Intellia Therapeutics from $8.00 to $9.00 and gave the company a "sell" rating in a research note on Tuesday, April 28th. Sanford C. Bernstein lifted their target price on Intellia Therapeutics from $13.00 to $17.00 and gave the stock a "market perform" rating in a report on Wednesday, May 13th. Finally, Morgan Stanley boosted their target price on shares of Intellia Therapeutics from $11.00 to $15.00 and gave the company an "equal weight" rating in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, Intellia Therapeutics presently has an average rating of "Hold" and an average price target of $21.15.

Intellia Therapeutics Stock Performance

The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -3.82 and a beta of 1.81. The company has a 50 day moving average price of $13.43 and a two-hundred day moving average price of $13.37.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.80). Intellia Therapeutics had a negative net margin of 672.16% and a negative return on equity of 57.79%. The business had revenue of $7.66 million for the quarter, compared to analyst estimates of $12.98 million. During the same quarter last year, the business earned ($0.98) earnings per share. The company's revenue for the quarter was down 46.4% compared to the same quarter last year. On average, equities analysts expect that Intellia Therapeutics, Inc. will post -3.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Intellia Therapeutics

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,641 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $16.78, for a total value of $44,315.98. Following the completion of the sale, the chief accounting officer owned 66,886 shares in the company, valued at approximately $1,122,347.08. This represents a 3.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Edward J. Dulac III sold 4,677 shares of the firm's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $18.00, for a total transaction of $84,186.00. Following the completion of the transaction, the executive vice president directly owned 156,286 shares in the company, valued at $2,813,148. This trade represents a 2.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 3.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Intellia Therapeutics during the second quarter worth about $260,721,000. ARK Investment Management LLC lifted its stake in Intellia Therapeutics by 19.2% during the fourth quarter. ARK Investment Management LLC now owns 14,207,324 shares of the company's stock worth $127,724,000 after purchasing an additional 2,288,146 shares in the last quarter. Vanguard Group Inc. lifted its stake in Intellia Therapeutics by 17.8% during the 4th quarter. Vanguard Group Inc. now owns 13,010,001 shares of the company's stock worth $116,960,000 after acquiring an additional 1,965,181 shares in the last quarter. State Street Corp lifted its position in shares of Intellia Therapeutics by 29.1% during the fourth quarter. State Street Corp now owns 6,418,836 shares of the company's stock worth $57,705,000 after purchasing an additional 1,447,967 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Intellia Therapeutics by 4.1% in the 4th quarter. Geode Capital Management LLC now owns 2,696,187 shares of the company's stock valued at $24,243,000 after buying an additional 107,333 shares during the period. Hedge funds and other institutional investors own 88.77% of the company's stock.

About Intellia Therapeutics

Intellia Therapeutics, Inc NASDAQ: NTLA is a clinical‐stage biotechnology company focused on developing potentially curative genome editing therapies using the CRISPR/Cas9 platform. The company's research spans both in vivo and ex vivo applications of CRISPR/Cas9, aiming to correct or disable disease‐causing genes with a single administration. Intellia's lead in vivo program targets transthyretin amyloidosis (ATTR) by delivering CRISPR/Cas9 machinery directly to the liver, while additional preclinical efforts pursue treatments for hemophilia A, hereditary angioedema and other genetic disorders.

Beyond its in vivo pipeline, Intellia collaborates with strategic partners to extend the impact of its genome editing approach.

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