Intellia Therapeutics (NASDAQ:NTLA) Releases Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Intellia Therapeutics (NASDAQ:NTLA) released its quarterly earnings data on Monday. The company reported ($0.81) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.11, FiscalAI reports. The company had revenue of $15.05 million for the quarter, compared to analyst estimates of $13.81 million. Intellia Therapeutics had a negative net margin of 609.85% and a negative return on equity of 56.81%.

Intellia Therapeutics Trading Up 4.5%

NASDAQ:NTLA traded up $0.64 on Monday, hitting $14.73. The company had a trading volume of 4,126,629 shares, compared to its average volume of 5,303,502. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -3.84 and a beta of 1.93. The firm has a 50 day moving average of $13.65 and a two-hundred day moving average of $12.41. Intellia Therapeutics has a 52 week low of $6.83 and a 52 week high of $28.25.

Hedge Funds Weigh In On Intellia Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in NTLA. ARK Investment Management LLC lifted its stake in Intellia Therapeutics by 19.2% in the 4th quarter. ARK Investment Management LLC now owns 14,207,324 shares of the company’s stock valued at $127,724,000 after purchasing an additional 2,288,146 shares during the last quarter. State Street Corp lifted its stake in Intellia Therapeutics by 29.1% in the 4th quarter. State Street Corp now owns 6,418,836 shares of the company’s stock valued at $57,705,000 after purchasing an additional 1,447,967 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Intellia Therapeutics by 156.9% in the 4th quarter. Renaissance Technologies LLC now owns 1,672,700 shares of the company’s stock valued at $15,038,000 after purchasing an additional 1,021,700 shares during the last quarter. HRT Financial LP bought a new position in Intellia Therapeutics in the 4th quarter valued at approximately $6,876,000. Finally, BNP Paribas Financial Markets raised its stake in shares of Intellia Therapeutics by 1,076.6% during the fourth quarter. BNP Paribas Financial Markets now owns 591,277 shares of the company’s stock valued at $5,316,000 after acquiring an additional 541,026 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Canaccord Genuity Group lifted their target price on shares of Intellia Therapeutics from $48.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Morgan Stanley lifted their target price on shares of Intellia Therapeutics from $11.00 to $15.00 and gave the stock an “equal weight” rating in a report on Monday, April 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intellia Therapeutics in a report on Tuesday, April 21st. Wall Street Zen raised shares of Intellia Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Robert W. Baird boosted their price objective on shares of Intellia Therapeutics from $7.00 to $13.00 and gave the company a “neutral” rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.55.

About Intellia Therapeutics

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.