Intellia Therapeutics (NASDAQ:NTLA) Trading 9.7% Higher After Earnings Beat

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s share price rose 9.7% during mid-day trading on Thursday following a stronger than expected earnings report. The company traded as high as $11.77 and last traded at $11.85. Approximately 522,767 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 3,172,696 shares. The stock had previously closed at $10.80.

The company reported ($1.24) EPS for the quarter, beating the consensus estimate of ($1.32) by $0.08.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Canaccord Genuity Group restated a “buy” rating and issued a $90.00 target price on shares of Intellia Therapeutics in a research report on Tuesday, November 19th. Wedbush reissued a “neutral” rating and issued a $10.00 price objective (down previously from $14.00) on shares of Intellia Therapeutics in a research note on Friday, January 10th. Barclays decreased their target price on Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. William Blair reiterated a “neutral” rating and issued a $14.00 price target on shares of Intellia Therapeutics in a research report on Monday, November 18th. Finally, Oppenheimer cut their price target on shares of Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.71.

Insider Buying and Selling at Intellia Therapeutics

In other news, CEO John M. Leonard sold 26,807 shares of the firm’s stock in a transaction 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 $11,462,780.70. This trade represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 29,000 shares of company stock valued at $352,551 in the last three months. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intellia Therapeutics

Hedge funds have recently bought and sold shares of the business. Blue Trust Inc. grew its stake in Intellia Therapeutics by 182.7% during the 3rd quarter. Blue Trust Inc. now owns 4,189 shares of the company’s stock valued at $94,000 after acquiring an additional 2,707 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Intellia Therapeutics by 27.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock valued at $77,000 after purchasing an additional 794 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in Intellia Therapeutics by 72.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 19,537 shares of the company’s stock valued at $401,000 after purchasing an additional 8,204 shares in the last quarter. SteelPeak Wealth LLC acquired a new position in Intellia Therapeutics in the 3rd quarter valued at approximately $393,000. Finally, Harbor Capital Advisors Inc. lifted its position in Intellia Therapeutics by 71.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 79,205 shares of the company’s stock worth $1,628,000 after buying an additional 32,893 shares in the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.

Intellia Therapeutics Stock Performance

The business’s 50 day simple moving average is $10.92 and its 200-day simple moving average is $15.75. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -2.15 and a beta of 1.80.

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.