Intellia Therapeutics (NASDAQ:NTLA) Hits New 52-Week High After Analyst Upgrade

Intellia Therapeutics, Inc. (NASDAQ:NTLA) reached a new 52-week high during mid-day trading on Monday after Citizens Jmp upgraded the stock from a market perform rating to an outperform rating. Citizens Jmp now has a $33.00 price target on the stock. Intellia Therapeutics traded as high as $21.49 and last traded at $20.96, with a volume of 438951 shares. The stock had previously closed at $19.96.

Several other analysts have also recently weighed in on NTLA. Guggenheim restated a “buy” rating and set a $14.00 price objective on shares of Intellia Therapeutics in a research report on Wednesday, August 13th. Wedbush restated a “neutral” rating and set a $7.00 price objective on shares of Intellia Therapeutics in a research report on Monday, June 16th. Chardan Capital lowered their price objective on shares of Intellia Therapeutics from $68.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. Royal Bank Of Canada lowered their price objective on shares of Intellia Therapeutics from $25.00 to $21.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. Finally, HC Wainwright raised their price objective on shares of Intellia Therapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 19th. Thirteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Intellia Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $27.95.

Insiders Place Their Bets

In other news, Director William J. Chase purchased 100,000 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were acquired at an average price of $10.03 per share, with a total value of $1,003,000.00. Following the acquisition, the director directly owned 134,693 shares in the company, valued at approximately $1,350,970.79. The trade was a 288.24% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Michael P. Dube sold 1,871 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $17.38, for a total transaction of $32,517.98. Following the completion of the sale, the chief accounting officer directly owned 55,266 shares in the company, valued at approximately $960,523.08. This trade represents a 3.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,364 shares of company stock valued at $137,674 in the last quarter. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Intellia Therapeutics

A number of large investors have recently modified their holdings of NTLA. Headlands Technologies LLC bought a new stake in shares of Intellia Therapeutics during the 2nd quarter valued at about $26,000. Whipplewood Advisors LLC boosted its stake in shares of Intellia Therapeutics by 114,900.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 3,450 shares of the company’s stock valued at $32,000 after purchasing an additional 3,447 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Intellia Therapeutics by 56.4% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,590 shares of the company’s stock valued at $33,000 after purchasing an additional 1,655 shares in the last quarter. Harbour Investments Inc. boosted its stake in shares of Intellia Therapeutics by 76.7% during the 1st quarter. Harbour Investments Inc. now owns 5,214 shares of the company’s stock valued at $37,000 after purchasing an additional 2,264 shares in the last quarter. Finally, Quantbot Technologies LP boosted its stake in shares of Intellia Therapeutics by 846.4% during the 1st quarter. Quantbot Technologies LP now owns 6,663 shares of the company’s stock valued at $47,000 after purchasing an additional 5,959 shares in the last quarter. Institutional investors own 88.77% of the company’s stock.

Intellia Therapeutics Price Performance

The firm’s 50 day moving average is $13.19 and its 200 day moving average is $10.48. The firm has a market cap of $2.19 billion, a P/E ratio of -4.36 and a beta of 2.37.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.99) EPS for the quarter, topping the consensus estimate of ($1.03) by $0.04. Intellia Therapeutics had a negative net margin of 908.48% and a negative return on equity of 57.48%. The business had revenue of $14.25 million for the quarter, compared to analyst estimates of $12.26 million. During the same quarter in the previous year, the firm posted ($1.52) earnings per share. Intellia Therapeutics’s quarterly revenue was up 104.3% on a year-over-year basis. As a group, analysts expect that Intellia Therapeutics, Inc. will post -5.07 EPS for the current year.

About Intellia Therapeutics

Intellia Therapeutics, Inc, a genome editing company, focuses on the development of curative therapeutics. The company's in vivo programs include NTLA-2001, which is in Phase 1 clinical trial for the treatment of transthyretin amyloidosis; NTLA-2002 for the treatment of hereditary angioedema; and NTLA-3001 for alpha-1 antitrypsin deficiency associated lung disease.