Intellia Therapeutics (NASDAQ:NTLA) Announces Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Intellia Therapeutics (NASDAQ:NTLA) released its quarterly earnings results on Thursday. The company reported ($0.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.10, Zacks reports. The company had revenue of $13.78 million for the quarter, compared to the consensus estimate of $14.12 million. Intellia Therapeutics had a negative net margin of 774.94% and a negative return on equity of 56.28%. Intellia Therapeutics’s revenue was up 51.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.34) earnings per share.

Intellia Therapeutics Stock Down 22.7%

Shares of NTLA stock traded down $2.80 on Friday, hitting $9.52. The stock had a trading volume of 25,372,622 shares, compared to its average volume of 10,223,058. Intellia Therapeutics has a one year low of $5.90 and a one year high of $28.25. The business has a 50 day moving average price of $17.19 and a 200 day moving average price of $12.47. The company has a market cap of $1.02 billion, a PE ratio of -2.23 and a beta of 2.44.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Citizens Jmp lowered their price target on Intellia Therapeutics from $29.00 to $21.00 and set a “market outperform” rating for the company in a research report on Friday. Wells Fargo & Company lowered their target price on shares of Intellia Therapeutics from $17.00 to $12.00 and set an “equal weight” rating for the company in a report on Friday. Barclays dropped their price target on shares of Intellia Therapeutics from $24.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday. JMP Securities reduced their price objective on shares of Intellia Therapeutics from $33.00 to $29.00 and set a “market outperform” rating on the stock in a research report on Tuesday, October 28th. Finally, Wall Street Zen downgraded shares of Intellia Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday. Twelve research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Intellia Therapeutics has an average rating of “Hold” and a consensus price target of $20.39.

Insider Activity at Intellia Therapeutics

In other news, CAO Michael P. Dube sold 1,871 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $17.38, for a total transaction of $32,517.98. Following the transaction, the chief accounting officer directly owned 55,266 shares in the company, valued at approximately $960,523.08. This trade represents a 3.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William J. Chase acquired 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The shares were acquired at an average cost of $10.03 per share, for a total transaction of $1,003,000.00. Following the completion of the acquisition, the director owned 134,693 shares of the company’s stock, valued at $1,350,970.79. This trade represents a 288.24% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 3.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intellia Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC purchased a new position in Intellia Therapeutics in the second quarter valued at about $26,000. Daiwa Securities Group Inc. boosted its holdings in shares of Intellia Therapeutics by 56.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 7,771 shares of the company’s stock valued at $73,000 after buying an additional 2,788 shares in the last quarter. First Trust Advisors LP purchased a new position in shares of Intellia Therapeutics in the 2nd quarter worth approximately $96,000. Ameriprise Financial Inc. raised its stake in shares of Intellia Therapeutics by 13.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,803 shares of the company’s stock worth $111,000 after acquiring an additional 1,443 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new stake in Intellia Therapeutics during the second quarter valued at approximately $126,000. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

About Intellia Therapeutics

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.