Intellia Therapeutics Inc (NASDAQ:NTLA) was down 6.1% on Tuesday . The stock traded as low as $21.25 and last traded at $21.59. Approximately 749,500 shares traded hands during trading, an increase of 119% from the average daily volume of 342,112 shares. The stock had previously closed at $23.00.

A number of research firms have commented on NTLA. Credit Suisse Group lifted their target price on shares of Intellia Therapeutics from $24.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, November 3rd. ValuEngine raised shares of Intellia Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, September 22nd. Jefferies Group set a $42.00 target price on shares of Intellia Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Leerink Swann lifted their target price on shares of Intellia Therapeutics from $29.00 to $37.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 31st. They noted that the move was a valuation call. Finally, Wedbush reiterated an “ourperform” rating and set a $25.00 price target (down previously from $29.00) on shares of Intellia Therapeutics in a research note on Wednesday, September 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. Intellia Therapeutics presently has a consensus rating of “Hold” and an average price target of $30.17.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Tuesday, October 31st. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.06. The company had revenue of $7.30 million for the quarter, compared to analysts’ expectations of $5.83 million. Intellia Therapeutics had a negative net margin of 215.92% and a negative return on equity of 28.01%. Intellia Therapeutics’s revenue for the quarter was up 49.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.22) EPS. equities research analysts forecast that Intellia Therapeutics Inc will post -1.68 EPS for the current year.

A number of hedge funds have recently made changes to their positions in NTLA. SG Americas Securities LLC purchased a new stake in Intellia Therapeutics in the 2nd quarter worth $101,000. Bank of Montreal Can lifted its stake in Intellia Therapeutics by 1,031.7% in the 2nd quarter. Bank of Montreal Can now owns 7,922 shares of the company’s stock worth $127,000 after purchasing an additional 7,222 shares in the last quarter. Nationwide Fund Advisors lifted its stake in Intellia Therapeutics by 117.7% in the 2nd quarter. Nationwide Fund Advisors now owns 8,048 shares of the company’s stock worth $129,000 after purchasing an additional 4,351 shares in the last quarter. Nisa Investment Advisors LLC purchased a new stake in Intellia Therapeutics in the 2nd quarter worth $134,000. Finally, State of Wisconsin Investment Board purchased a new stake in Intellia Therapeutics in the 2nd quarter worth $160,000. Institutional investors and hedge funds own 49.53% of the company’s stock.

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About Intellia Therapeutics

Intellia Therapeutics, Inc is a genome editing company. The Company is focused on developing therapeutics utilizing a biological tool known as CRISPR/Cas9. The CRISPR/Cas9 genome editing system includes two components: the Cas9 protein and the guide RNA sequence. The Cas9 protein acts like a pair of molecular scissors that initiates the natural cellular repair process to knockout, repair or insert a gene.

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