Intellia Therapeutics (NASDAQ:NTLA) Shares Gap Up – Still a Buy?

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $10.13, but opened at $10.72. Intellia Therapeutics shares last traded at $10.4580, with a volume of 1,772,849 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have commented on NTLA. Jones Trading downgraded Intellia Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Wall Street Zen upgraded shares of Intellia Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday. Guggenheim cut Intellia Therapeutics from a “buy” rating to a “neutral” rating in a research note on Monday, October 27th. Citigroup reiterated a “market outperform” rating on shares of Intellia Therapeutics in a report on Tuesday, October 28th. Finally, Evercore ISI set a $8.00 target price on Intellia Therapeutics and gave the company an “in-line” rating in a report on Tuesday, November 11th. Ten investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $17.00.

Intellia Therapeutics Price Performance

The company has a market cap of $1.21 billion, a PE ratio of -2.44 and a beta of 2.05. The business’s 50 day moving average is $9.44 and its 200-day moving average is $12.68.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.92) EPS for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.10. Intellia Therapeutics had a negative net margin of 774.94% and a negative return on equity of 57.01%. The company had revenue of $13.78 million for the quarter, compared to the consensus estimate of $14.12 million. During the same period in the prior year, the firm posted ($1.34) EPS. The company’s quarterly revenue was up 51.6% compared to the same quarter last year. As a group, sell-side analysts predict that Intellia Therapeutics, Inc. will post -5.07 EPS for the current fiscal year.

Insider Activity at Intellia Therapeutics

In other Intellia Therapeutics news, EVP Birgit C. Schultes sold 8,508 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $9.21, for a total value of $78,358.68. Following the sale, the executive vice president directly owned 98,533 shares in the company, valued at $907,488.93. This trade represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James Basta sold 10,397 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $9.21, for a total transaction of $95,756.37. Following the sale, the executive vice president owned 101,528 shares of the company’s stock, valued at $935,072.88. This represents a 9.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 53,051 shares of company stock valued at $488,600 over the last quarter. 3.10% of the stock is owned by insiders.

Institutional Trading of Intellia Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Contrarius Group Holdings Ltd boosted its position in shares of Intellia Therapeutics by 279.4% in the 3rd quarter. Contrarius Group Holdings Ltd now owns 5,889,936 shares of the company’s stock valued at $101,719,000 after purchasing an additional 4,337,428 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in Intellia Therapeutics in the third quarter valued at approximately $23,519,000. Marex Group plc purchased a new stake in Intellia Therapeutics in the second quarter valued at approximately $5,849,000. Farallon Capital Management LLC acquired a new stake in shares of Intellia Therapeutics in the third quarter valued at approximately $10,486,000. Finally, JPMorgan Chase & Co. grew its position in shares of Intellia Therapeutics by 73.0% during the second quarter. JPMorgan Chase & Co. now owns 940,483 shares of the company’s stock worth $8,822,000 after acquiring an additional 396,858 shares during the last quarter. Institutional investors and hedge funds 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.