Intellia Therapeutics (NASDAQ:NTLA) Trading Up 6.5% – What’s Next?

Intellia Therapeutics, Inc. (NASDAQ:NTLA) rose 6.5% on Wednesday . The stock traded as high as $10.40 and last traded at $10.24. Approximately 317,037 shares were traded during trading, a decline of 89% from the average daily volume of 2,981,620 shares. The stock had previously closed at $9.62.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NTLA. Wells Fargo & Company reduced their price objective on Intellia Therapeutics from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. StockNews.com upgraded shares of Intellia Therapeutics to a “sell” rating in a research report on Friday, November 8th. Oppenheimer decreased their price objective on Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Wedbush reiterated a “neutral” rating and set a $10.00 price objective (down from $14.00) on shares of Intellia Therapeutics in a research note on Friday, January 10th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $90.00 price target on shares of Intellia Therapeutics in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $48.71.

Intellia Therapeutics Price Performance

The business has a 50-day moving average of $11.96 and a 200-day moving average of $17.21. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -1.86 and a beta of 1.80.

Intellia Therapeutics (NASDAQ:NTLA) last posted its earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.03. The company had revenue of $9.10 million for the quarter, compared to analyst estimates of $8.28 million. The business’s quarterly revenue was down 24.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.38) EPS. As a group, equities analysts anticipate that Intellia Therapeutics, Inc. will post -5.07 EPS for the current fiscal year.

Insider Activity

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $12.18, for a total value of $326,509.26. Following the completion of the sale, the chief executive officer now owns 941,115 shares of the company’s stock, valued at approximately $11,462,780.70. This trade represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 29,000 shares of company stock valued at $352,551. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intellia Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Whipplewood Advisors LLC purchased a new position in Intellia Therapeutics in the fourth quarter worth $40,000. Eastern Bank purchased a new position in shares of Intellia Therapeutics in the 3rd quarter worth about $41,000. Jones Financial Companies Lllp increased its position in shares of Intellia Therapeutics by 140.9% during the 4th quarter. Jones Financial Companies Lllp now owns 3,898 shares of the company’s stock valued at $45,000 after purchasing an additional 2,280 shares during the last quarter. Values First Advisors Inc. purchased a new position in shares of Intellia Therapeutics during the 3rd quarter valued at about $54,000. Finally, KBC Group NV boosted its stake in Intellia Therapeutics by 62.4% in the fourth quarter. KBC Group NV now owns 6,093 shares of the company’s stock worth $71,000 after buying an additional 2,340 shares in the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

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.