Intellia Therapeutics (NASDAQ:NTLA) Trading Up 7.5% – Should You Buy?

Intellia Therapeutics, Inc. (NASDAQ:NTLA) rose 7.5% during mid-day trading on Wednesday . The stock traded as high as $13.75 and last traded at $13.5570. Approximately 1,864,014 shares were traded during trading, a decline of 66% from the average daily volume of 5,450,944 shares. The stock had previously closed at $12.61.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NTLA shares. Bank of America restated a “neutral” rating on shares of Intellia Therapeutics in a research report on Monday, March 2nd. Citizens Jmp lifted their price objective on shares of Intellia Therapeutics from $28.00 to $30.00 and gave the stock a “market outperform” rating in a research note on Tuesday, April 28th. JonesTrading upgraded shares of Intellia Therapeutics from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a report on Wednesday, March 4th. HC Wainwright dropped their price target on shares of Intellia Therapeutics from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Finally, Canaccord Genuity Group cut their price target on shares of Intellia Therapeutics from $58.00 to $49.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $20.25.

Intellia Therapeutics Price Performance

The firm has a market capitalization of $1.89 billion, a P/E ratio of -3.82 and a beta of 1.93. The firm has a 50-day moving average price of $13.52 and a two-hundred day moving average price of $11.94.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.81) EPS for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.11. The firm had revenue of $15.05 million for the quarter, compared to analysts’ expectations of $13.81 million. Intellia Therapeutics had a negative net margin of 597.04% and a negative return on equity of 57.47%. During the same period in the prior year, the business posted ($1.10) earnings per share. Sell-side analysts predict that Intellia Therapeutics, Inc. will post -3.31 earnings per share for the current fiscal year.

Institutional Trading of Intellia Therapeutics

Large investors have recently modified their holdings of the company. Contrarius Group Holdings Ltd increased its position in Intellia Therapeutics by 279.4% during the 3rd quarter. Contrarius Group Holdings Ltd now owns 5,889,936 shares of the company’s stock valued at $101,719,000 after purchasing an additional 4,337,428 shares during the period. ARK Investment Management LLC increased its position in Intellia Therapeutics by 19.2% during the 4th quarter. ARK Investment Management LLC now owns 14,207,324 shares of the company’s stock valued at $127,724,000 after buying an additional 2,288,146 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Intellia Therapeutics by 17.8% in the fourth quarter. Vanguard Group Inc. now owns 13,010,001 shares of the company’s stock worth $116,960,000 after acquiring an additional 1,965,181 shares in the last quarter. State Street Corp increased its holdings in shares of Intellia Therapeutics by 29.1% during the fourth quarter. State Street Corp now owns 6,418,836 shares of the company’s stock valued at $57,705,000 after acquiring an additional 1,447,967 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Intellia Therapeutics during the first quarter valued at about $17,913,000. Hedge funds and other institutional investors 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.