Intellia Therapeutics (NASDAQ:NTLA) Stock Price Up 7.5% - Should You Buy?

Key Points

• Intellia Therapeutics' stock price saw a rise of 7.5% after trading at $12.25, reflecting a significant movement from the previous close of $11.40.
• Several analysts have downgraded their price targets for the stock, with Citigroup reducing its target from $14.00 to $10.00, while others have set a range of ratings from "buy" to "neutral."
• Despite a negative earnings per share of ($0.99), Intellia reported a revenue increase of 104.3% year-over-year, amounting to $14.25 million for the recent quarter.

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report)'s stock price rose 7.5% during mid-day trading on Wednesday . The stock traded as high as $11.72 and last traded at $12.25. Approximately 253,548 shares traded hands during trading, a decline of 94% from the average daily volume of 4,059,207 shares. The stock had previously closed at $11.40.

Analyst Upgrades and Downgrades

NTLA has been the subject of several analyst reports. Citigroup lowered their price objective on Intellia Therapeutics from $14.00 to $10.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. HC Wainwright lowered their price objective on Intellia Therapeutics from $30.00 to $25.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Royal Bank Of Canada lowered their price objective on Intellia Therapeutics from $25.00 to $21.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Guggenheim reaffirmed a "buy" rating and set a $14.00 price objective on shares of Intellia Therapeutics in a research report on Wednesday, August 13th. Finally, Canaccord Genuity Group lowered their price objective on Intellia Therapeutics from $74.00 to $54.00 and set a "buy" rating for the company in a research report on Tuesday, June 3rd. Twelve equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $29.05.

Intellia Therapeutics Stock Performance

The business has a 50-day simple moving average of $11.36 and a two-hundred day simple moving average of $9.60. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -2.48 and a beta of 2.28.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.99) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.03) by $0.04. Intellia Therapeutics had a negative return on equity of 57.48% and a negative net margin of 908.48%.The business had revenue of $14.25 million for the quarter, compared to analyst estimates of $12.26 million. During the same quarter in the previous year, the company posted ($1.52) earnings per share. The company's revenue for the quarter was up 104.3% compared to the same quarter last year. Research analysts predict that Intellia Therapeutics, Inc. will post -5.07 EPS for the current fiscal year.

Insider Activity at Intellia Therapeutics

In other news, EVP Edward J. Dulac III sold 7,462 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $14.02, for a total transaction of $104,617.24. Following the completion of the transaction, the executive vice president directly owned 106,062 shares of the company's stock, valued at approximately $1,486,989.24. This represents a 6.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William J. Chase bought 100,000 shares of the business's 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 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 position. The disclosure for this purchase can be found here. Insiders have sold 12,534 shares of company stock valued at $153,837 in the last 90 days. Company insiders own 3.10% of the company's stock.

Hedge Funds Weigh In On Intellia Therapeutics

A number of large investors have recently modified their holdings of NTLA. Voloridge Investment Management LLC raised its stake in shares of Intellia Therapeutics by 226.8% during the 4th quarter. Voloridge Investment Management LLC now owns 1,526,994 shares of the company's stock worth $17,805,000 after buying an additional 1,059,751 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of Intellia Therapeutics by 94.5% during the 4th quarter. Two Sigma Advisers LP now owns 1,998,317 shares of the company's stock worth $23,300,000 after buying an additional 970,700 shares in the last quarter. Two Sigma Investments LP raised its stake in shares of Intellia Therapeutics by 88.1% during the 4th quarter. Two Sigma Investments LP now owns 1,843,743 shares of the company's stock worth $21,498,000 after buying an additional 863,363 shares in the last quarter. Marex Group plc purchased a new position in Intellia Therapeutics in the 2nd quarter valued at approximately $5,849,000. Finally, Vanguard Group Inc. increased its stake 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 purchasing an additional 561,978 shares in the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.

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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