Intellia Therapeutics (NASDAQ:NTLA) Issues Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Intellia Therapeutics (NASDAQ:NTLA) issued its earnings results on Monday. The company reported ($0.81) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.11, FiscalAI reports. Intellia Therapeutics had a negative return on equity of 56.81% and a negative net margin of 609.85%.The business had revenue of $15.05 million during the quarter, compared to the consensus estimate of $13.81 million.

Intellia Therapeutics Stock Performance

NTLA traded up $0.61 during midday trading on Monday, reaching $14.70. 4,262,300 shares of the company were exchanged, compared to its average volume of 5,303,502. The company’s fifty day moving average price is $13.65 and its 200 day moving average price is $12.41. The company has a market cap of $1.77 billion, a price-to-earnings ratio of -3.84 and a beta of 1.93. Intellia Therapeutics has a one year low of $6.83 and a one year high of $28.25.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC bought a new stake in Intellia Therapeutics during the second quarter worth $26,000. Caitong International Asset Management Co. Ltd purchased a new position in Intellia Therapeutics during the 3rd quarter worth $30,000. Advisory Services Network LLC bought a new stake in shares of Intellia Therapeutics in the 3rd quarter worth $33,000. Van ECK Associates Corp grew its stake in shares of Intellia Therapeutics by 104.2% in the 4th quarter. Van ECK Associates Corp now owns 5,391 shares of the company’s stock worth $48,000 after acquiring an additional 2,751 shares in the last quarter. Finally, Danske Bank A S purchased a new stake in shares of Intellia Therapeutics in the third quarter valued at about $50,000. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Analysts Set New Price Targets

NTLA has been the subject of several recent analyst reports. Leerink Partners set a $35.00 price objective on shares of Intellia Therapeutics in a research report on Monday, April 27th. Wall Street Zen upgraded shares of Intellia Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. HC Wainwright raised their price target on shares of Intellia Therapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. The Goldman Sachs Group raised their target price on Intellia Therapeutics from $8.00 to $9.00 and gave the company a “sell” rating in a research note on Tuesday, April 28th. Finally, Royal Bank Of Canada upped their price target on Intellia Therapeutics from $9.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Intellia Therapeutics has an average rating of “Hold” and an average target price of $20.55.

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.