Intellia Therapeutics (NASDAQ:NTLA) Shares Up 8.5% After Analyst Upgrade

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) shot up 8.5% during mid-day trading on Monday after StockNews.com upgraded the stock to a sell rating. The stock traded as high as $26.74 and last traded at $26.55. 749,855 shares were traded during trading, a decline of 49% from the average session volume of 1,473,120 shares. The stock had previously closed at $24.46.

Other analysts have also recently issued reports about the company. BMO Capital Markets raised their price target on Intellia Therapeutics from $62.00 to $70.00 and gave the company an "outperform" rating in a report on Friday. Canaccord Genuity Group upped their price target on shares of Intellia Therapeutics from $72.00 to $73.00 and gave the stock a "buy" rating in a research note on Friday, February 23rd. The Goldman Sachs Group cut shares of Intellia Therapeutics from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $136.00 to $32.00 in a research note on Friday, February 23rd. Wedbush restated a "neutral" rating and set a $29.00 target price on shares of Intellia Therapeutics in a research report on Tuesday, April 23rd. Finally, Citigroup reduced their price target on shares of Intellia Therapeutics from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $66.77.

Insider Activity

In other Intellia Therapeutics news, EVP James Basta sold 2,297 shares of the firm's 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 sale, the executive vice president now directly owns 81,571 shares of the company's stock, valued at approximately $2,691,027.29. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 3.00% of the company's stock.

Institutional Trading of Intellia Therapeutics

Several institutional investors have recently made changes to their positions in the stock. ARK Investment Management LLC grew its position in 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 acquiring an additional 1,463,820 shares during the period. Vanguard Group Inc. lifted its position in Intellia Therapeutics by 8.9% during the first quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company's stock valued at $250,168,000 after buying an additional 746,263 shares in the last quarter. Wellington Management Group LLP grew its stake in Intellia Therapeutics by 1.4% during the third quarter. Wellington Management Group LLP now owns 2,651,994 shares of the company's stock worth $83,856,000 after buying an additional 36,630 shares during the period. Federated Hermes Inc. increased its position in shares of Intellia Therapeutics by 13.8% in the fourth quarter. Federated Hermes Inc. now owns 2,016,300 shares of the company's stock worth $61,477,000 after acquiring an additional 244,722 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Intellia Therapeutics by 5.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,170,829 shares of the company's stock valued at $35,704,000 after acquiring an additional 60,748 shares in the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.

Intellia Therapeutics Trading Up 3.9 %

The business's 50-day moving average is $25.19 and its two-hundred day moving average is $27.22. The stock has a market capitalization of $2.45 billion, a PE ratio of -4.74 and a beta of 1.85.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last posted its earnings results 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. The business had revenue of ($1.92) million during the quarter, compared to analyst estimates of $15.10 million. Intellia Therapeutics had a negative return on equity of 45.35% and a negative net margin of 893.34%. During the same quarter last year, the firm earned ($1.40) earnings per share. On average, analysts predict that Intellia Therapeutics, Inc. will post -5.51 EPS for the current year.

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.