Intellia Therapeutics (NASDAQ:NTLA) Trading Up 9% – Time to Buy?

Intellia Therapeutics, Inc. (NASDAQ:NTLA) shares traded up 9% during mid-day trading on Wednesday . The company traded as high as $10.89 and last traded at $10.84. 2,200,953 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 3,189,528 shares. The stock had previously closed at $9.94.

Analysts Set New Price Targets

NTLA has been the subject of several recent analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $90.00 target price on shares of Intellia Therapeutics in a research report on Tuesday, November 19th. Robert W. Baird dropped their target price on Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Citigroup decreased their price target on shares of Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, October 25th. William Blair reiterated a “neutral” rating and issued a $14.00 target price on shares of Intellia Therapeutics in a research report on Monday, November 18th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $10.00 price target (down from $14.00) on shares of Intellia Therapeutics in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.06.

Intellia Therapeutics Stock Performance

The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -2.02 and a beta of 1.83. The business’s 50 day moving average is $12.62 and its 200-day moving average is $18.11.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) EPS for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.03. The business had revenue of $9.10 million during the quarter, compared to the consensus estimate of $8.28 million. During the same quarter in the previous year, the firm posted ($1.38) earnings per share. The company’s revenue for the quarter was down 24.1% on a year-over-year basis. Equities research analysts forecast that Intellia Therapeutics, Inc. will post -5.09 EPS for the current fiscal year.

Insider Transactions at Intellia Therapeutics

In related 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 transaction, the chief executive officer now directly 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 28,735 shares of company stock worth $349,909 over the last three months. 3.20% of the stock is currently owned by insiders.

Institutional Trading of Intellia Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Elmwood Wealth Management Inc. lifted its holdings in shares of Intellia Therapeutics by 0.9% during the third quarter. Elmwood Wealth Management Inc. now owns 67,774 shares of the company’s stock valued at $1,393,000 after acquiring an additional 600 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Intellia Therapeutics by 27.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock valued at $77,000 after buying an additional 794 shares in the last quarter. Capstone Investment Advisors LLC grew its stake in Intellia Therapeutics by 1.4% during the third quarter. Capstone Investment Advisors LLC now owns 61,129 shares of the company’s stock worth $1,256,000 after buying an additional 831 shares during the last quarter. KBC Group NV grew its stake in Intellia Therapeutics by 37.3% during the third quarter. KBC Group NV now owns 3,753 shares of the company’s stock worth $77,000 after buying an additional 1,020 shares during the last quarter. Finally, Axxcess Wealth Management LLC increased its holdings in shares of Intellia Therapeutics by 5.4% during the third quarter. Axxcess Wealth Management LLC now owns 20,215 shares of the company’s stock worth $415,000 after buying an additional 1,044 shares in the last quarter. Institutional investors own 88.77% of the company’s stock.

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.