Intellia Therapeutics (NASDAQ:NTLA) Stock Price Up 6.8%

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s share price was up 6.8% on Monday . The company traded as high as $22.22 and last traded at $22.18. Approximately 566,817 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 1,476,637 shares. The stock had previously closed at $20.76.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NTLA shares. The Goldman Sachs Group downgraded shares of Intellia Therapeutics from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $136.00 to $32.00 in a research report on Friday, February 23rd. Wedbush reiterated a “neutral” rating and issued a $29.00 price objective on shares of Intellia Therapeutics in a report on Tuesday, April 23rd. Canaccord Genuity Group raised their price target on shares of Intellia Therapeutics from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Wolfe Research began coverage on shares of Intellia Therapeutics in a report on Thursday, February 15th. They set a “peer perform” rating for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Intellia Therapeutics Price Performance

The company’s 50-day simple moving average is $26.28 and its 200 day simple moving average is $27.41.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, beating the consensus estimate of ($1.47) by $0.01. Intellia Therapeutics had a negative net margin of 893.34% and a negative return on equity of 43.91%. The company had revenue of ($1.92) million during the quarter, compared to analysts’ expectations of $15.10 million. During the same quarter last year, the company posted ($1.40) EPS. As a group, equities research analysts forecast that Intellia Therapeutics, Inc. will post -5.57 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP James Basta sold 2,297 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $32.99, for a total value of $75,778.03. Following the sale, the executive vice president now directly owns 81,571 shares in the company, valued at approximately $2,691,027.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Intellia Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. ARK Investment Management LLC raised its stake in Intellia Therapeutics by 14.7% during the 4th quarter. ARK Investment Management LLC now owns 11,412,449 shares of the company’s stock worth $347,966,000 after acquiring an additional 1,463,820 shares in the last quarter. Rhenman & Partners Asset Management AB raised its stake in Intellia Therapeutics by 1,600.0% during the 3rd quarter. Rhenman & Partners Asset Management AB now owns 850,000 shares of the company’s stock worth $26,877,000 after acquiring an additional 800,000 shares in the last quarter. Norges Bank acquired a new stake in Intellia Therapeutics during the 4th quarter worth $16,348,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Intellia Therapeutics during the 4th quarter worth $9,086,000. Finally, Vestmark Advisory Solutions Inc. acquired a new stake in Intellia Therapeutics during the 4th quarter worth $8,110,000. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.