Intellia Therapeutics (NASDAQ:NTLA) Trading Up 8.8% – Still a Buy?

Intellia Therapeutics, Inc. (NASDAQ:NTLA) shares rose 8.8% during trading on Thursday . The stock traded as high as $13.89 and last traded at $14.1610. Approximately 561,798 shares were traded during trading, a decline of 90% from the average daily volume of 5,390,905 shares. The stock had previously closed at $13.02.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Citizens Jmp increased their target price on shares of Intellia Therapeutics from $28.00 to $30.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 28th. Truist Financial upgraded shares of Intellia Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Morgan Stanley raised their target price on shares of Intellia Therapeutics from $11.00 to $15.00 and gave the company an “equal weight” rating in a research note on Monday, April 27th. Chardan Capital raised their target price on shares of Intellia Therapeutics from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Finally, Wells Fargo & Company raised their target price on shares of Intellia Therapeutics from $12.00 to $15.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 3rd. One investment 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 assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $20.25.

Intellia Therapeutics Trading Up 14.6%

The business’s fifty day simple moving average is $13.56 and its two-hundred day simple moving average is $12.09. The stock has a market capitalization of $2.09 billion, a P/E ratio of -4.20 and a beta of 1.92.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Monday, May 11th. The company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.11. Intellia Therapeutics had a negative net margin of 597.04% and a negative return on equity of 57.47%. The business had revenue of $15.05 million during the quarter, compared to analysts’ expectations of $13.81 million. During the same quarter last year, the company earned ($1.10) earnings per share. On average, equities research analysts anticipate that Intellia Therapeutics, Inc. will post -3.29 earnings per share for the current year.

Institutional Investors Weigh In On Intellia Therapeutics

Several hedge funds have recently made changes to their positions in NTLA. Contrarius Group Holdings Ltd lifted its stake in shares of Intellia Therapeutics by 279.4% in the third quarter. Contrarius Group Holdings Ltd now owns 5,889,936 shares of the company’s stock valued at $101,719,000 after buying an additional 4,337,428 shares during the period. ARK Investment Management LLC lifted its stake in shares of Intellia Therapeutics by 19.2% in the fourth 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 during the period. Vanguard Group Inc. lifted its holdings in shares of Intellia Therapeutics by 17.8% during the 4th 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 during the period. State Street Corp boosted its position in shares of Intellia Therapeutics by 29.1% during the 4th 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 stake in shares of Intellia Therapeutics during the 1st quarter valued at about $17,913,000. Institutional investors own 88.77% of the company’s stock.

Intellia Therapeutics Company Profile

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.