Intellia Therapeutics (NASDAQ:NTLA) Trading Up 5.7% - Here's What Happened

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report)'s share price traded up 5.7% during mid-day trading on Wednesday . The company traded as high as $11.99 and last traded at $12.14. 509,094 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 3,041,534 shares. The stock had previously closed at $11.48.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. HC Wainwright reissued a "buy" rating and issued a $30.00 target price on shares of Intellia Therapeutics in a research report on Monday, June 16th. Citigroup decreased their price target on Intellia Therapeutics from $14.00 to $10.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Chardan Capital restated a "buy" rating and issued a $68.00 price target on shares of Intellia Therapeutics in a research note on Friday, May 9th. Guggenheim decreased their price target on Intellia Therapeutics from $55.00 to $45.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Finally, Wedbush restated a "neutral" rating and issued a $7.00 price target on shares of Intellia Therapeutics in a research note on Monday, June 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $33.37.

Intellia Therapeutics Trading Up 1.9%

The company has a 50 day moving average of $9.46 and a 200-day moving average of $9.34. The firm has a market capitalization of $1.25 billion, a P/E ratio of -2.31 and a beta of 2.21.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($1.10) earnings per share for the quarter, beating the consensus estimate of ($1.26) by $0.16. Intellia Therapeutics had a negative return on equity of 56.06% and a negative net margin of 1,154.10%. The firm had revenue of $16.63 million during the quarter, compared to analysts' expectations of $11.39 million. During the same period in the previous year, the firm earned ($1.12) EPS. The company's quarterly revenue was down 42.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Intellia Therapeutics, Inc. will post -5.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Intellia Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System raised its stake in Intellia Therapeutics by 4.1% during the 4th quarter. California State Teachers Retirement System now owns 90,638 shares of the company's stock worth $1,057,000 after buying an additional 3,596 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Intellia Therapeutics in the fourth quarter worth approximately $4,793,000. Baker BROS. Advisors LP purchased a new stake in shares of Intellia Therapeutics in the fourth quarter worth approximately $7,510,000. XTX Topco Ltd raised its stake in shares of Intellia Therapeutics by 194.6% in the fourth quarter. XTX Topco Ltd now owns 43,908 shares of the company's stock worth $512,000 after purchasing an additional 29,006 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Intellia Therapeutics by 12.1% in the fourth quarter. Deutsche Bank AG now owns 252,501 shares of the company's stock worth $2,944,000 after purchasing an additional 27,282 shares during the last quarter. 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.