Intellia Therapeutics (NASDAQ:NTLA) Shares Up 9% – What’s Next?

Intellia Therapeutics, Inc. (NASDAQ:NTLA) shot 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 traded hands during trading, a decline of 31% from the average session volume of 3,189,528 shares. The stock had previously closed at $9.94.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NTLA. Citigroup cut their price target on Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Chardan Capital raised their price target on shares of Intellia Therapeutics from $88.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. StockNews.com raised shares of Intellia Therapeutics to a “sell” rating in a report on Friday, November 8th. William Blair reissued a “neutral” rating and issued a $14.00 target price on shares of Intellia Therapeutics in a research report on Monday, November 18th. Finally, The Goldman Sachs Group reduced their price target on shares of Intellia Therapeutics from $19.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $51.06.

Intellia Therapeutics Price Performance

The firm’s fifty day moving average is $12.62 and its two-hundred day moving average is $18.11. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -2.02 and a beta of 1.83.

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

Insiders Place Their Bets

In other news, CEO John M. Leonard sold 26,807 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $12.18, for a total transaction of $326,509.26. Following the completion of the transaction, the chief executive officer now owns 941,115 shares in the company, valued at approximately $11,462,780.70. This trade represents a 2.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold 28,735 shares of company stock worth $349,909 over the last ninety days. Company insiders own 3.20% of the company’s stock.

Institutional Trading of Intellia Therapeutics

A number of large investors have recently added to or reduced their stakes in NTLA. EverSource Wealth Advisors LLC boosted its stake in shares of Intellia Therapeutics by 763.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock worth $39,000 after acquiring an additional 1,550 shares in the last quarter. Eastern Bank acquired a new position in shares of Intellia Therapeutics in the 3rd quarter valued at $41,000. Values First Advisors Inc. purchased a new position in Intellia Therapeutics in the 3rd quarter worth about $54,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Intellia Therapeutics by 27.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock worth $77,000 after buying an additional 794 shares during the period. Finally, KBC Group NV raised its holdings in Intellia Therapeutics by 37.3% during the 3rd 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 period. 88.77% of the stock is currently owned by institutional investors.

About Intellia Therapeutics

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.