Intellia Therapeutics (NASDAQ:NTLA) Trading 6.5% Higher – Time to Buy?

Intellia Therapeutics, Inc. (NASDAQ:NTLA) shares traded up 6.5% during trading on Wednesday . The stock traded as high as $10.40 and last traded at $10.24. 317,037 shares were traded during mid-day trading, a decline of 89% from the average session volume of 2,981,620 shares. The stock had previously closed at $9.62.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NTLA. Robert W. Baird decreased their price target on shares of Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $90.00 target price on shares of Intellia Therapeutics in a research note on Tuesday, November 19th. The Goldman Sachs Group reduced their target price on Intellia Therapeutics from $19.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Wedbush restated a “neutral” rating and set a $10.00 price target (down from $14.00) on shares of Intellia Therapeutics in a research report on Friday, January 10th. Finally, StockNews.com raised shares of Intellia Therapeutics to a “sell” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Intellia Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $48.71.

Intellia Therapeutics Trading Down 1.1 %

The stock’s 50 day moving average is $11.96 and its 200 day moving average is $17.21. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -1.86 and a beta of 1.80.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share (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 analyst estimates of $8.28 million. The company’s quarterly revenue was down 24.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.38) EPS. On average, equities research analysts predict that Intellia Therapeutics, Inc. will post -5.07 EPS for the current year.

Insider Activity at Intellia Therapeutics

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of Intellia Therapeutics stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $12.18, for a total value of $326,509.26. Following the completion of the sale, the chief executive officer now directly owns 941,115 shares of the company’s stock, valued at approximately $11,462,780.70. The trade was a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 29,000 shares of company stock worth $352,551 in the last quarter. 3.20% of the stock is owned by insiders.

Institutional Trading of Intellia Therapeutics

Hedge funds have recently bought and sold shares of the company. State Street Corp grew its position in shares of Intellia Therapeutics by 17.9% in the 3rd quarter. State Street Corp now owns 5,143,534 shares of the company’s stock worth $105,700,000 after buying an additional 780,754 shares during the last quarter. ARK Investment Management LLC boosted its stake in Intellia Therapeutics by 5.7% in the 3rd quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock worth $251,849,000 after purchasing an additional 659,651 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Intellia Therapeutics during the 4th quarter valued at $4,793,000. Two Sigma Advisers LP raised its position in Intellia Therapeutics by 33.5% in the 3rd quarter. Two Sigma Advisers LP now owns 1,027,617 shares of the company’s stock worth $21,118,000 after buying an additional 257,700 shares during the last quarter. Finally, Sphera Funds Management LTD. lifted its position in Intellia Therapeutics by 108.8% during the third quarter. Sphera Funds Management LTD. now owns 291,080 shares of the company’s stock valued at $5,982,000 after purchasing an additional 151,661 shares during the period. Institutional investors own 88.77% of the company’s stock.

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.