Intellia Therapeutics (NASDAQ:NTLA) Trading 6.9% Higher - Time to Buy?

Key Points

• Intellia Therapeutics' stock price rose by 6.9% to $13.67, despite experiencing a 28% decline in trading volume compared to its average.
• Analysts have varying target price estimates for the stock, with a consensus rating of "Moderate Buy" and an average price target of $33.37.
• Intellia reported a revenue of $16.63 million for the last quarter, exceeding expectations, despite posting a loss of $1.10 earnings per share.

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report)'s stock price traded up 6.9% during trading on Friday . The stock traded as high as $13.66 and last traded at $13.67. 2,881,770 shares were traded during mid-day trading, a decline of 28% from the average session volume of 4,011,334 shares. The stock had previously closed at $12.78.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Canaccord Genuity Group cut their price objective on Intellia Therapeutics from $74.00 to $54.00 and set a "buy" rating on the stock in a research report on Tuesday, June 3rd. Wolfe Research upgraded Intellia Therapeutics from a "peer perform" rating to an "outperform" rating and set a $21.00 target price for the company in a research note on Monday, April 21st. Guggenheim lowered their target price 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. Chardan Capital restated a "buy" rating and set a $68.00 target price on shares of Intellia Therapeutics in a research note on Friday, May 9th. Finally, Citigroup lowered their target price 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. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.37.

Intellia Therapeutics Price Performance

The stock has a market cap of $1.41 billion, a P/E ratio of -2.60 and a beta of 2.21. The company has a fifty day moving average of $9.86 and a 200 day moving average of $9.39.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($1.10) earnings per share (EPS) 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 company had revenue of $16.63 million for the quarter, compared to analysts' expectations of $11.39 million. During the same quarter in the prior year, the company earned ($1.12) earnings per share. The firm's revenue was down 42.6% on a year-over-year basis. As a group, analysts anticipate that Intellia Therapeutics, Inc. will post -5.07 EPS for the current year.

Hedge Funds Weigh In On Intellia Therapeutics

Several hedge funds have recently bought and sold shares of NTLA. CWM LLC grew its position in shares of Intellia Therapeutics by 22.9% in the second quarter. CWM LLC now owns 18,331 shares of the company's stock valued at $172,000 after purchasing an additional 3,419 shares during the last quarter. Cyndeo Wealth Partners LLC acquired a new stake in Intellia Therapeutics during the second quarter worth about $101,000. Ballentine Partners LLC bought a new position in Intellia Therapeutics during the second quarter worth about $161,000. Voya Investment Management LLC lifted its stake in Intellia Therapeutics by 621.5% during the first quarter. Voya Investment Management LLC now owns 208,009 shares of the company's stock worth $1,479,000 after purchasing an additional 179,180 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Intellia Therapeutics by 8.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 521,706 shares of the company's stock worth $3,709,000 after purchasing an additional 38,521 shares during the period. 88.77% of the stock is owned by institutional investors and hedge funds.

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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