Intellia Therapeutics (NASDAQ:NTLA) Shares Gap Up – Here’s What Happened

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s share price gapped up before the market opened on Monday . The stock had previously closed at $8.31, but opened at $8.53. Intellia Therapeutics shares last traded at $8.65, with a volume of 484,923 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NTLA. JPMorgan Chase & Co. reissued a “neutral” rating and set a $13.00 price target (down from $45.00) on shares of Intellia Therapeutics in a research report on Friday, February 28th. Barclays cut their price objective on shares of Intellia Therapeutics from $55.00 to $26.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Morgan Stanley downgraded shares of Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $56.00 to $11.00 in a research note on Monday, January 27th. Wolfe Research raised shares of Intellia Therapeutics from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research report on Monday, April 21st. Finally, Citigroup boosted their price target on Intellia Therapeutics from $12.00 to $14.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $36.68.

Intellia Therapeutics Price Performance

The firm has a market capitalization of $867.99 million, a P/E ratio of -1.54 and a beta of 2.23. The firm has a 50-day moving average price of $8.66 and a two-hundred day moving average price of $11.77.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC boosted its position in Intellia Therapeutics by 30.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 16,798 shares of the company’s stock valued at $112,000 after purchasing an additional 3,935 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Intellia Therapeutics by 51.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,726 shares of the company’s stock worth $140,000 after buying an additional 6,722 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Intellia Therapeutics during the 1st quarter valued at approximately $98,000. Intellectus Partners LLC boosted its holdings in shares of Intellia Therapeutics by 11.1% in the 1st quarter. Intellectus Partners LLC now owns 82,825 shares of the company’s stock valued at $589,000 after acquiring an additional 8,300 shares during the last quarter. Finally, Signal Advisors Wealth LLC increased its stake in shares of Intellia Therapeutics by 4.4% in the first quarter. Signal Advisors Wealth LLC now owns 77,436 shares of the company’s stock worth $552,000 after acquiring an additional 3,278 shares during the period. 88.77% of the stock is owned by institutional investors.

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.