Intellia Therapeutics (NASDAQ:NTLA) Trading Up 10.9% - What's Next?

Key Points

• Intellia Therapeutics shares rose 10.9% to about $12.74, although trading volume was 75% below the average session volume.
• Analyst views remain mixed: the stock has an overall “Hold” consensus and a $20.98 average price target, with ratings ranging from Strong Buy to Sell.
• The company reported an adjusted loss of $0.80 per share, in line with estimates, but revenue of $7.66 million fell short of expectations and declined 46.4% year over year; Intellia continues developing CRISPR-based treatments including NTLA-2001 and NTLA-2002.

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) rose 10.9% during trading on Thursday . The company traded as high as $12.69 and last traded at $12.7430. 1,283,691 shares were traded during mid-day trading, a decline of 75% from the average session volume of 5,088,443 shares. The stock had previously closed at $11.49.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NTLA shares. Evercore raised shares of Intellia Therapeutics from a "hold" rating to an "outperform" rating and set a $24.00 price target on the stock in a report on Friday, August 7th. Wolfe Research downgraded shares of Intellia Therapeutics from a "peer perform" rating to an "underperform" rating and set a $9.00 price objective for the company. in a research note on Wednesday, July 15th. Citigroup restated a "market outperform" rating on shares of Intellia Therapeutics in a research report on Tuesday, August 25th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Intellia Therapeutics in a research note on Friday, July 17th. Finally, Citizens Jmp reiterated a "market outperform" rating and set a $30.00 price target on shares of Intellia Therapeutics in a report on Wednesday, September 9th. One 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 given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $20.98.

Intellia Therapeutics Stock Performance

The company has a fifty day simple moving average of $12.10 and a 200 day simple moving average of $13.35. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -3.73 and a beta of 1.82.

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

Insider Buying and Selling

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

Institutional Trading of Intellia Therapeutics

A number of large investors have recently bought and sold shares of NTLA. Nykredit A S acquired a new position in shares of Intellia Therapeutics in the 2nd quarter valued at about $33,000. Freestone Grove Partners LP acquired a new position in Intellia Therapeutics in the second quarter valued at approximately $33,000. Integrated Wealth Concepts LLC acquired a new position in Intellia Therapeutics in the second quarter valued at approximately $34,000. Fifth Third Bancorp bought a new position in shares of Intellia Therapeutics during the 1st quarter worth approximately $38,000. Finally, State of Wyoming bought a new position in shares of Intellia Therapeutics during the 2nd quarter worth approximately $51,000. 88.77% of the stock is currently owned by institutional investors and hedge funds.

About Intellia Therapeutics

Intellia Therapeutics, Inc is a biotechnology company focused on developing curative treatments using CRISPR-based gene-editing technology. The company's approach is designed to make targeted changes to disease-associated genes, including through in vivo therapies that edit genes directly inside the body.

Intellia's pipeline includes NTLA-2001, an investigational treatment designed to address transthyretin amyloidosis by editing the TTR gene, and NTLA-2002, an investigational therapy targeting hereditary angioedema through editing of the KLKB1 gene.

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.