Intellia Therapeutics (NASDAQ:NTLA) Shares Up 8.3% – Here’s Why

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NTLA shares. Chardan Capital boosted their target price on Intellia Therapeutics from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Robert W. Baird lifted their price objective on Intellia Therapeutics from $7.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Leerink Partners set a $35.00 price objective on Intellia Therapeutics in a research note on Monday, April 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intellia Therapeutics in a report on Friday, July 17th. Finally, Sanford C. Bernstein increased their target price on shares of Intellia Therapeutics from $13.00 to $17.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $21.15.

Intellia Therapeutics Stock Performance

The firm has a 50 day simple moving average of $13.42 and a 200 day simple moving average of $13.35. The firm has a market cap of $1.89 billion, a P/E ratio of -4.00 and a beta of 1.81.

Intellia Therapeutics (NASDAQ:NTLA) last announced 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). Intellia Therapeutics had a negative return on equity of 57.79% and a negative net margin of 672.16%.The firm had revenue of $7.66 million for the quarter, compared to analysts’ expectations of $12.98 million. During the same period in the prior year, the business posted ($0.98) earnings per share. The company’s revenue was down 46.4% on a year-over-year basis. Sell-side analysts predict that Intellia Therapeutics, Inc. will post -3.21 EPS for the current fiscal year.

Insider Activity at Intellia Therapeutics

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,641 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were 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 directly owned 66,886 shares of the company’s stock, valued at $1,122,347.08. This trade represents a 3.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Edward J. Dulac III sold 4,677 shares of the business’s stock in a transaction 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intellia Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd purchased a new position in Intellia Therapeutics during the third quarter worth about $30,000. Advisory Services Network LLC purchased a new stake in shares of Intellia Therapeutics in the 3rd quarter valued at about $33,000. Nykredit A S bought a new stake in shares of Intellia Therapeutics during the 2nd quarter valued at about $33,000. Freestone Grove Partners LP bought a new stake in shares of Intellia Therapeutics during the 2nd quarter valued at about $33,000. Finally, Headlands Technologies LLC purchased a new position in shares of Intellia Therapeutics during the second quarter worth about $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.