Intellia Therapeutics (NASDAQ:NTLA) Sees Unusually-High Trading Volume on Analyst Upgrade

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) saw unusually-strong trading volume on Monday after Chardan Capital raised their price target on the stock from $88.00 to $91.00. Chardan Capital currently has a buy rating on the stock. Approximately 1,842,006 shares were traded during trading, an increase of 10% from the previous session’s volume of 1,679,987 shares.The stock last traded at $13.69 and had previously closed at $13.97.

A number of other research firms also recently weighed in on NTLA. Oppenheimer decreased their price objective on Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Royal Bank of Canada reissued an “outperform” rating and set a $54.00 price target on shares of Intellia Therapeutics in a research note on Thursday, September 19th. Wedbush reiterated a “neutral” rating and issued a $14.00 price objective on shares of Intellia Therapeutics in a report on Thursday, November 7th. Robert W. Baird decreased their target price on Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Finally, Evercore ISI raised Intellia Therapeutics to a “strong-buy” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.94.

Insider Buying and Selling at Intellia Therapeutics

In related news, CAO Michael P. Dube sold 2,012 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total transaction of $38,248.12. Following the sale, the chief accounting officer now owns 47,012 shares in the company, valued at approximately $893,698.12. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in shares of Intellia Therapeutics by 2.2% during the third quarter. Geode Capital Management LLC now owns 2,343,310 shares of the company’s stock valued at $48,164,000 after acquiring an additional 49,367 shares during the period. Barclays PLC boosted its position in shares of Intellia Therapeutics by 17.7% during the 3rd quarter. Barclays PLC now owns 292,795 shares of the company’s stock valued at $6,017,000 after purchasing an additional 44,022 shares in the last quarter. Two Sigma Advisers LP grew its position in Intellia Therapeutics by 33.5% in the third quarter. Two Sigma Advisers LP now owns 1,027,617 shares of the company’s stock worth $21,118,000 after buying an additional 257,700 shares during the last quarter. Sphera Funds Management LTD. boosted its position in shares of Intellia Therapeutics by 108.8% in the 3rd quarter. Sphera Funds Management LTD. now owns 291,080 shares of the company’s stock valued at $5,982,000 after purchasing an additional 151,661 shares during the period. Finally, State Street Corp increased its position in shares of Intellia Therapeutics by 17.9% in the third quarter. State Street Corp now owns 5,143,534 shares of the company’s stock worth $105,700,000 after acquiring an additional 780,754 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors.

Intellia Therapeutics Trading Down 0.3 %

The stock has a market capitalization of $1.44 billion, a PE ratio of -2.60 and a beta of 1.81. The firm’s 50-day simple moving average is $18.52 and its two-hundred day simple moving average is $21.97.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.37) by $0.03. The business had revenue of $9.10 million during the quarter, compared to analyst estimates of $8.28 million. During the same period last year, the company earned ($1.38) EPS. The business’s revenue for the quarter was down 24.1% on a year-over-year basis. As a group, research analysts expect that Intellia Therapeutics, Inc. will post -5.13 earnings per share for the current year.

Intellia Therapeutics Company Profile

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.