Intellia Therapeutics (NASDAQ:NTLA) Trading 6.6% Higher - Here's What Happened

Key Points

• Intellia Therapeutics' stock rose 6.6% to $21.80, with a significant decline in trading volume compared to its average.
• Research analysts have issued positive reports on the company, with multiple upgrades, including HC Wainwright increasing the price target from $25 to $30.
• Intellia reported revenue of $14.25 million for the last quarter, exceeding expectations, and has a consensus rating of "Moderate Buy" with a target price of $27.95.

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report)'s stock price traded up 6.6% during mid-day trading on Wednesday . The company traded as high as $21.08 and last traded at $21.80. 527,567 shares changed hands during trading, a decline of 88% from the average session volume of 4,364,310 shares. The stock had previously closed at $20.44.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. HC Wainwright raised their price objective on Intellia Therapeutics from $25.00 to $30.00 and gave the company a "buy" rating in a research note on Friday, September 19th. 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. Chardan Capital lowered their target price on shares of Intellia Therapeutics from $68.00 to $60.00 and set a "buy" rating for the company in a report on Monday, August 11th. Citizens Jmp upgraded shares of Intellia Therapeutics from a "market perform" rating to an "outperform" rating and set a $33.00 target price for the company in a report on Monday. Finally, JMP Securities raised shares of Intellia Therapeutics from a "market perform" rating to a "market outperform" rating and set a $33.00 price target for the company in a research report on Monday. Thirteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Intellia Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $27.95.

Intellia Therapeutics Stock Performance

The business's 50-day moving average price is $13.19 and its 200-day moving average price is $10.48. The stock has a market cap of $2.80 billion, a P/E ratio of -5.62 and a beta of 2.37.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last released its earnings results 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. Intellia Therapeutics had a negative net margin of 908.48% and a negative return on equity of 57.48%. The company had revenue of $14.25 million for the quarter, compared to analysts' expectations of $12.26 million. During the same quarter in the previous year, the company earned ($1.52) EPS. Intellia Therapeutics's revenue for the quarter was up 104.3% on a year-over-year basis. As a group, equities research analysts expect that Intellia Therapeutics, Inc. will post -5.07 earnings per share for the current year.

Insider Activity at Intellia Therapeutics

In other news, Director William J. Chase bought 100,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were bought at an average price 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 $1,350,970.79. This represents a 288.24% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Edward J. Dulac III sold 7,462 shares of Intellia Therapeutics stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $14.02, for a total transaction of $104,617.24. Following the transaction, the executive vice president owned 106,062 shares in the company, valued at approximately $1,486,989.24. This trade represents a 6.57% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,364 shares of company stock worth $137,674. 3.10% of the stock is owned by corporate insiders.

Institutional Trading of Intellia Therapeutics

Several hedge funds have recently bought and sold shares of NTLA. Headlands Technologies LLC purchased a new stake in Intellia Therapeutics in the 2nd quarter worth $26,000. Whipplewood Advisors LLC lifted its stake in Intellia Therapeutics by 114,900.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 3,450 shares of the company's stock worth $32,000 after purchasing an additional 3,447 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in 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 purchasing an additional 1,655 shares in the last quarter. Harbour Investments Inc. lifted its stake in Intellia Therapeutics by 76.7% in the 1st quarter. Harbour Investments Inc. now owns 5,214 shares of the company's stock worth $37,000 after purchasing an additional 2,264 shares in the last quarter. Finally, Quantbot Technologies LP lifted its stake in Intellia Therapeutics by 846.4% in the 1st quarter. Quantbot Technologies LP now owns 6,663 shares of the company's stock worth $47,000 after purchasing an additional 5,959 shares in the last quarter. 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.

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