Intellia Therapeutics (NASDAQ:NTLA) Stock Breaks Above 50 Day Moving Average Following Insider Selling

Key Points

• Intellia shares rose 3.8% to $12.31, moving above their 50-day average of $12.17. The headline cites insider selling, but the article’s body says an insider bought shares.
• Analysts are divided: MarketBeat reports an average Hold rating and a $20.57 average price target, with ratings ranging from Strong Buy to Sell.
• The company met quarterly earnings expectations at a loss of $0.80 per share, but revenue of $7.66 million fell short of estimates and was down 46.4% year over year.

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) shares passed above its 50-day moving average during trading on Wednesday after an insider bought additional shares in the company. The stock has a 50-day moving average of $12.17 and traded as high as $12.53. Intellia Therapeutics shares last traded at $12.31, with a volume of 3,170,415 shares changing hands.

Wall Street Analyst Weigh In

NTLA has been the subject of several research reports. Barclays started coverage on Intellia Therapeutics in a report on Tuesday, October 6th. They issued an "underweight" rating and a $8.00 target price for the company. HC Wainwright reaffirmed a "buy" rating and set a $25.00 price target on shares of Intellia Therapeutics in a research report on Wednesday, September 9th. Wall Street Zen cut Intellia Therapeutics from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 8th. Wolfe Research downgraded shares of Intellia Therapeutics from a "peer perform" rating to an "underperform" rating and set a $9.00 price target for the company. in a research report on Wednesday, July 15th. Finally, Citigroup reissued a "market outperform" rating on shares of Intellia Therapeutics in a research report on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $20.57.

Intellia Therapeutics Stock Up 3.8%

The company has a fifty day moving average of $12.17 and a two-hundred day moving average of $13.06. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of -3.66 and a beta of 1.83.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share for the quarter, meeting the consensus estimate of ($0.80). Intellia Therapeutics had a negative net margin of 672.16% and a negative return on equity of 57.79%. The business had revenue of $7.66 million for the quarter, compared to the consensus estimate of $12.98 million. The business's quarterly revenue was down 46.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.98) earnings per share. Equities analysts anticipate that Intellia Therapeutics, Inc. will post -3.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NTLA. PNC Financial Services Group Inc. lifted its holdings in shares of Intellia Therapeutics by 36.4% in the first quarter. PNC Financial Services Group Inc. now owns 3,552 shares of the company's stock valued at $46,000 after purchasing an additional 948 shares in the last quarter. Wealthfront Advisers LLC lifted its stake in shares of Intellia Therapeutics by 7.6% during the 1st quarter. Wealthfront Advisers LLC now owns 14,450 shares of the company's stock worth $185,000 after purchasing an additional 1,018 shares during the period. Wellington Management Group LLP lifted its stake in shares of Intellia Therapeutics by 2.7% during the 2nd quarter. Wellington Management Group LLP now owns 43,484 shares of the company's stock worth $736,000 after purchasing an additional 1,125 shares during the period. Axxcess Wealth Management LLC boosted its holdings in shares of Intellia Therapeutics by 6.1% during the first quarter. Axxcess Wealth Management LLC now owns 22,707 shares of the company's stock worth $291,000 after purchasing an additional 1,308 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC boosted its holdings in shares of Intellia Therapeutics by 6.1% during the third quarter. Cyndeo Wealth Partners LLC now owns 26,986 shares of the company's stock worth $325,000 after purchasing an additional 1,556 shares during the last quarter. Institutional investors and hedge funds own 88.77% of the company's stock.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc is a biotechnology company focused on developing potentially curative treatments using CRISPR-based gene-editing technology. The company is working to create therapies that can modify disease-causing genes inside the body, with the goal of addressing the underlying causes of serious genetic diseases rather than treating only their symptoms.

Intellia's pipeline has included NTLA-2001, an investigational in vivo gene-editing therapy designed to reduce production of transthyretin for the treatment of transthyretin amyloidosis, and NTLA-2002, an investigational therapy intended to target hereditary angioedema.

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