Intellia Therapeutics (NASDAQ:NTLA) Stock Price Up 4.1% – Here’s Why

Intellia Therapeutics, Inc. (NASDAQ:NTLA) shares shot up 4.1% during mid-day trading on Monday . The stock traded as high as $9.16 and last traded at $8.85. 1,138,979 shares changed hands during trading, a decline of 55% from the average session volume of 2,506,340 shares. The stock had previously closed at $8.50.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group reissued a “sell” rating and set a $9.00 target price on shares of Intellia Therapeutics in a research note on Friday, February 28th. Truist Financial decreased their target price on shares of Intellia Therapeutics from $90.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Wedbush reiterated a “neutral” rating and issued a $10.00 price objective on shares of Intellia Therapeutics in a research report on Monday. StockNews.com raised Intellia Therapeutics to a “sell” rating in a research report on Monday, March 3rd. Finally, Chardan Capital restated a “buy” rating and set a $68.00 target price on shares of Intellia Therapeutics in a research report on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Intellia Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.90.

Intellia Therapeutics Price Performance

The firm’s 50 day moving average price is $7.99 and its 200 day moving average price is $10.75. The stock has a market capitalization of $921.37 million, a P/E ratio of -1.64 and a beta of 2.33.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($1.10) EPS for the quarter, beating the consensus estimate of ($1.26) by $0.16. The company had revenue of $16.63 million during the quarter, compared to analysts’ expectations of $11.39 million. The business’s revenue for the quarter was down 42.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.12) earnings per share. On average, equities research analysts forecast that Intellia Therapeutics, Inc. will post -5.07 earnings per share for the current year.

Institutional Trading of Intellia Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new position in shares of Intellia Therapeutics in the 4th quarter valued at about $25,000. Sterling Capital Management LLC increased its holdings in shares of Intellia Therapeutics by 866.2% in the fourth quarter. Sterling Capital Management LLC now owns 3,198 shares of the company’s stock worth $37,000 after buying an additional 2,867 shares during the period. Whipplewood Advisors LLC purchased a new position in shares of Intellia Therapeutics during the 4th quarter worth approximately $40,000. Resona Asset Management Co. Ltd. purchased a new position in Intellia Therapeutics during the fourth quarter valued at $43,000. Finally, Jones Financial Companies Lllp increased its position in Intellia Therapeutics by 140.9% during the fourth quarter. Jones Financial Companies Lllp now owns 3,898 shares of the company’s stock valued at $45,000 after acquiring an additional 2,280 shares during the last quarter. 88.77% of the stock is currently 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.