Intellia Therapeutics (NASDAQ:NTLA) Shares Up 6.1% - Here's Why

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report)'s share price rose 6.1% during trading on Tuesday . The company traded as high as $10.95 and last traded at $10.88. Approximately 891,943 shares traded hands during trading, a decline of 70% from the average daily volume of 2,975,374 shares. The stock had previously closed at $10.25.

Analyst Upgrades and Downgrades

NTLA has been the subject of a number of research analyst reports. Wolfe Research upgraded Intellia Therapeutics from a "peer perform" rating to an "outperform" rating and set a $21.00 price target for the company in a report on Monday, April 21st. Guggenheim reduced their price objective on Intellia Therapeutics from $55.00 to $45.00 and set a "buy" rating for the company in a report on Monday, May 12th. Citigroup reduced their price objective on Intellia Therapeutics from $14.00 to $10.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Canaccord Genuity Group reduced their price objective on Intellia Therapeutics from $74.00 to $54.00 and set a "buy" rating for the company in a report on Tuesday, June 3rd. Finally, Wedbush reiterated a "neutral" rating and issued a $7.00 price target on shares of Intellia Therapeutics in a research note on Monday, June 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $33.37.

Intellia Therapeutics Stock Up 8.5%

The company has a market cap of $1.15 billion, a P/E ratio of -2.13 and a beta of 2.21. The firm's 50 day moving average is $8.87 and its two-hundred day moving average is $9.34.

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

Hedge Funds Weigh In On Intellia Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Ensign Peak Advisors Inc boosted its position in shares of Intellia Therapeutics by 2.9% during the 4th quarter. Ensign Peak Advisors Inc now owns 39,169 shares of the company's stock worth $457,000 after purchasing an additional 1,100 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Intellia Therapeutics by 8.2% in the 1st quarter. HighTower Advisors LLC now owns 16,921 shares of the company's stock worth $120,000 after acquiring an additional 1,282 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Intellia Therapeutics by 6.1% in the 4th quarter. Arizona State Retirement System now owns 28,006 shares of the company's stock worth $327,000 after acquiring an additional 1,615 shares during the last quarter. E Fund Management Co. Ltd. raised its holdings in shares of Intellia Therapeutics by 10.0% in the 4th quarter. E Fund Management Co. Ltd. now owns 18,053 shares of the company's stock worth $210,000 after acquiring an additional 1,634 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Intellia Therapeutics by 56.4% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,590 shares of the company's stock worth $33,000 after acquiring an additional 1,655 shares during the last quarter. Institutional investors own 88.77% of the company's stock.

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.