Intellia Therapeutics (NASDAQ:NTLA) Trading 8.3% Higher - Still a Buy?

Key Points

• Intellia Therapeutics shares rose 8.3% to about $13.60, though trading volume was 85% below the average session volume.
• Analyst views remain mixed: the consensus rating is “Hold” with a $21.15 price target, while several firms maintain Buy or Market Outperform ratings and Goldman Sachs rates the stock Sell.
• The clinical-stage biotech reported a quarterly loss of $0.80 per share in line with estimates, but revenue of $7.66 million missed expectations and fell 46.4% year over year; analysts expect a full-year loss of $3.21 per share.

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) traded up 8.3% on Tuesday . The company traded as high as $13.31 and last traded at $13.5990. 783,085 shares were traded during trading, a decline of 85% from the average session volume of 5,259,428 shares. The stock had previously closed at $12.56.

Analyst Ratings Changes

NTLA has been the subject of a number of research reports. Chardan Capital raised their price objective on Intellia Therapeutics from $27.00 to $30.00 and gave the company a "buy" rating in a research note on Monday, April 27th. HC Wainwright reiterated a "buy" rating and issued a $25.00 target price on shares of Intellia Therapeutics in a report on Monday, June 15th. Citizens Jmp reissued a "market outperform" rating and issued a $30.00 price target on shares of Intellia Therapeutics in a research report on Tuesday. The Goldman Sachs Group boosted their price target on shares of Intellia Therapeutics from $8.00 to $9.00 and gave the company a "sell" rating in a research note on Tuesday, April 28th. Finally, Citigroup restated a "market outperform" rating on shares of Intellia Therapeutics in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $21.15.

Intellia Therapeutics Trading Up 7.1%

The firm has a market capitalization of $1.89 billion, a PE ratio of -4.00 and a beta of 1.81. The business has a 50-day moving average of $13.42 and a 200 day moving average of $13.35.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.80) EPS 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 company had revenue of $7.66 million during the quarter, compared to the consensus estimate of $12.98 million. During the same quarter in the prior year, the company posted ($0.98) earnings per share. The firm's revenue for the quarter was down 46.4% on a year-over-year basis. On average, sell-side analysts expect that Intellia Therapeutics, Inc. will post -3.21 EPS for the current fiscal year.

Insider Activity at Intellia Therapeutics

In other Intellia Therapeutics news, EVP Edward J. Dulac III sold 4,677 shares of Intellia Therapeutics stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $18.00, for a total transaction of $84,186.00. Following the transaction, the executive vice president owned 156,286 shares of the company's stock, valued at $2,813,148. This trade represents a 2.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Michael P. Dube sold 2,641 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $16.78, for a total value of $44,315.98. Following the completion of the transaction, the chief accounting officer owned 66,886 shares in the company, valued at $1,122,347.08. The trade was a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 3.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd bought a new position in Intellia Therapeutics during the third quarter valued at about $30,000. Advisory Services Network LLC bought a new stake in Intellia Therapeutics in the third quarter worth about $33,000. Nykredit A S purchased a new position in Intellia Therapeutics in the second quarter valued at about $33,000. Freestone Grove Partners LP purchased a new position in Intellia Therapeutics in the second quarter valued at about $33,000. Finally, Headlands Technologies LLC bought a new position in shares of Intellia Therapeutics during the 2nd quarter valued at approximately $26,000. Institutional investors own 88.77% of the company's stock.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc NASDAQ: NTLA is a clinical‐stage biotechnology company focused on developing potentially curative genome editing therapies using the CRISPR/Cas9 platform. The company's research spans both in vivo and ex vivo applications of CRISPR/Cas9, aiming to correct or disable disease‐causing genes with a single administration. Intellia's lead in vivo program targets transthyretin amyloidosis (ATTR) by delivering CRISPR/Cas9 machinery directly to the liver, while additional preclinical efforts pursue treatments for hemophilia A, hereditary angioedema and other genetic disorders.

Beyond its in vivo pipeline, Intellia collaborates with strategic partners to extend the impact of its genome editing approach.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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