Intellia Therapeutics (NASDAQ:NTLA) Share Price Crosses Above 50 Day Moving Average on Insider Selling

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s share price passed above its 50-day moving average during trading on Wednesday after an insider bought additional shares in the company. The stock has a 50-day moving average of $12.17 and traded as high as $12.53. Intellia Therapeutics shares last traded at $12.31, with a volume of 3,170,415 shares changing hands.

Analyst Ratings Changes

A number of research firms have recently commented on NTLA. HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of Intellia Therapeutics in a report on Wednesday, September 9th. Citigroup reiterated a “market outperform” rating on shares of Intellia Therapeutics in a report on Tuesday, August 25th. Wall Street Zen cut Intellia Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Wedbush upped their target price on Intellia Therapeutics from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 9th. Finally, Wolfe Research lowered Intellia Therapeutics from a “peer perform” rating to an “underperform” rating and set a $9.00 target price for the company. in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $20.57.

Intellia Therapeutics Trading Up 3.8%

The business has a 50 day simple moving average of $12.17 and a two-hundred day simple moving average of $13.06. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of -3.66 and a beta of 1.83.

Intellia Therapeutics (NASDAQ:NTLA) last announced its earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.80). The company had revenue of $7.66 million for the quarter, compared to analyst estimates of $12.98 million. Intellia Therapeutics had a negative return on equity of 57.79% and a negative net margin of 672.16%. Intellia Therapeutics’s quarterly revenue was down 46.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.98) EPS. Research analysts anticipate that Intellia Therapeutics, Inc. will post -3.21 EPS for the current fiscal year.

Institutional Trading of Intellia Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in NTLA. Gen Wealth Partners Inc raised its stake in Intellia Therapeutics by 34.0% during the third quarter. Gen Wealth Partners Inc now owns 82,177 shares of the company’s stock valued at $991,000 after buying an additional 20,834 shares in the last quarter. Fulcrum Asset Management LLP acquired a new position in shares of Intellia Therapeutics in the 3rd quarter worth approximately $165,000. Parallel Advisors LLC grew its position in shares of Intellia Therapeutics by 267.0% in the 3rd quarter. Parallel Advisors LLC now owns 2,268 shares of the company’s stock worth $27,000 after acquiring an additional 1,650 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Intellia Therapeutics by 55.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 109,279 shares of the company’s stock valued at $1,318,000 after acquiring an additional 39,069 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Intellia Therapeutics by 24.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,605,623 shares of the company’s stock valued at $43,484,000 after acquiring an additional 708,094 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc is a biotechnology company focused on developing potentially curative treatments using CRISPR-based gene-editing technology. The company is working to create therapies that can modify disease-causing genes inside the body, with the goal of addressing the underlying causes of serious genetic diseases rather than treating only their symptoms.

Intellia’s pipeline has included NTLA-2001, an investigational in vivo gene-editing therapy designed to reduce production of transthyretin for the treatment of transthyretin amyloidosis, and NTLA-2002, an investigational therapy intended to target hereditary angioedema.