Intellia Therapeutics (NASDAQ:NTLA) Shares Up 7.9% – What’s Next?

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s share price traded up 7.9% during trading on Wednesday . The stock traded as high as $14.49 and last traded at $13.8490. 3,457,954 shares traded hands during trading, a decline of 40% from the average session volume of 5,724,107 shares. The stock had previously closed at $12.83.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on NTLA shares. Wall Street Zen downgraded Intellia Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday. JPMorgan Chase & Co. restated an “underweight” rating and issued a $5.00 target price (down from $12.00) on shares of Intellia Therapeutics in a report on Friday, November 7th. Sanford C. Bernstein set a $14.50 price target on Intellia Therapeutics in a report on Tuesday, October 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Intellia Therapeutics in a research report on Wednesday, October 8th. Finally, Barclays decreased their price objective on shares of Intellia Therapeutics from $24.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, November 7th. Nine analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $17.00.

Intellia Therapeutics Stock Up 7.2%

The stock’s 50-day moving average price is $9.52 and its 200 day moving average price is $12.82. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -3.22 and a beta of 2.05.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.92) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.02) by $0.10. Intellia Therapeutics had a negative return on equity of 57.01% and a negative net margin of 774.94%.The firm had revenue of $13.78 million for the quarter, compared to analyst estimates of $14.12 million. During the same period in the previous year, the company posted ($1.34) earnings per share. The company’s quarterly revenue was up 51.6% compared to the same quarter last year. On average, research analysts predict that Intellia Therapeutics, Inc. will post -5.07 EPS for the current year.

Insiders Place Their Bets

In other Intellia Therapeutics news, EVP Birgit C. Schultes sold 8,508 shares of Intellia Therapeutics stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $9.21, for a total transaction of $78,358.68. Following the sale, the executive vice president directly owned 98,533 shares of the company’s stock, valued at approximately $907,488.93. The trade was a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Basta sold 10,397 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $9.21, for a total value of $95,756.37. Following the transaction, the executive vice president owned 101,528 shares of the company’s stock, valued at $935,072.88. This trade represents a 9.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 53,051 shares of company stock worth $488,600 over the last 90 days. Corporate insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Intellia Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in Intellia Therapeutics by 154.1% during the 1st quarter. AQR Capital Management LLC now owns 90,875 shares of the company’s stock valued at $646,000 after purchasing an additional 55,118 shares during the last quarter. Woodline Partners LP acquired a new stake in shares of Intellia Therapeutics during the first quarter worth approximately $171,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Intellia Therapeutics by 8.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 521,706 shares of the company’s stock worth $3,709,000 after buying an additional 38,521 shares in the last quarter. Voya Investment Management LLC raised its stake in shares of Intellia Therapeutics by 621.5% in the first quarter. Voya Investment Management LLC now owns 208,009 shares of the company’s stock valued at $1,479,000 after acquiring an additional 179,180 shares during the last quarter. Finally, Ballentine Partners LLC acquired a new position in shares of Intellia Therapeutics in the 2nd quarter worth approximately $161,000. Institutional investors and hedge funds own 88.77% of the company’s stock.

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.