Intellia Therapeutics (NASDAQ:NTLA) Shares Gap Up to $23.00

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $23.00, but opened at $24.29. Intellia Therapeutics shares last traded at $24.04, with a volume of 103,742 shares.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wedbush restated a "neutral" rating and issued a $29.00 price target on shares of Intellia Therapeutics in a report on Tuesday, April 23rd. Wolfe Research started coverage on Intellia Therapeutics in a research report on Thursday, February 15th. They set a "peer perform" rating for the company. Canaccord Genuity Group lifted their price objective on shares of Intellia Therapeutics from $72.00 to $73.00 and gave the company a "buy" rating in a report on Friday, February 23rd. Finally, The Goldman Sachs Group cut shares of Intellia Therapeutics from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $136.00 to $32.00 in a report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Intellia Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $67.00.

Intellia Therapeutics Price Performance

The stock's 50-day moving average price is $25.64 and its 200-day moving average price is $27.22. The company has a market cap of $2.40 billion, a P/E ratio of -4.53 and a beta of 1.85.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.47) by $0.01. Intellia Therapeutics had a negative net margin of 893.34% and a negative return on equity of 43.91%. The firm had revenue of ($1.92) million during the quarter, compared to the consensus estimate of $15.10 million. During the same quarter in the previous year, the firm posted ($1.40) EPS. As a group, analysts expect that Intellia Therapeutics, Inc. will post -5.57 EPS for the current fiscal year.

Insider Buying and Selling

In other Intellia Therapeutics news, EVP James Basta sold 2,297 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $32.99, for a total value of $75,778.03. Following the completion of the transaction, the executive vice president now directly owns 81,571 shares in the company, valued at $2,691,027.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NTLA. ARK Investment Management LLC raised its holdings in shares of Intellia Therapeutics by 14.7% during the fourth quarter. ARK Investment Management LLC now owns 11,412,449 shares of the company's stock valued at $347,966,000 after purchasing an additional 1,463,820 shares during the period. Rhenman & Partners Asset Management AB boosted its holdings in Intellia Therapeutics by 1,600.0% in the third quarter. Rhenman & Partners Asset Management AB now owns 850,000 shares of the company's stock worth $26,877,000 after acquiring an additional 800,000 shares in the last quarter. Norges Bank acquired a new position in shares of Intellia Therapeutics during the fourth quarter worth approximately $16,348,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Intellia Therapeutics in the 4th quarter worth $9,086,000. Finally, Vestmark Advisory Solutions Inc. acquired a new stake in Intellia Therapeutics in the 4th quarter valued at $8,110,000. 88.77% of the stock is owned by 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.