Intellia Therapeutics (NASDAQ:NTLA) Shares Gap Up to $24.22

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $24.22, but opened at $26.21. Intellia Therapeutics shares last traded at $26.60, with a volume of 334,605 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NTLA. Citigroup lowered their price target on shares of Intellia Therapeutics from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. BMO Capital Markets boosted their price target on Intellia Therapeutics from $62.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Intellia Therapeutics in a research report on Tuesday, June 18th. Wedbush reiterated a “neutral” rating and issued a $29.00 target price on shares of Intellia Therapeutics in a report on Tuesday, April 23rd. Finally, StockNews.com raised shares of Intellia Therapeutics to a “sell” rating in a research report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $64.75.

Intellia Therapeutics Stock Performance

The stock has a 50 day moving average of $23.59 and a 200-day moving average of $26.48. The company has a market cap of $2.59 billion, a PE ratio of -4.96 and a beta of 1.84.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($1.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.35) by $0.29. The firm had revenue of $28.94 million during the quarter, compared to analysts’ expectations of $15.60 million. Intellia Therapeutics had a negative return on equity of 45.35% and a negative net margin of 893.34%. Equities research analysts forecast that Intellia Therapeutics, Inc. will post -4.98 EPS for the current year.

Institutional Trading of Intellia Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Opaleye Management Inc. raised its holdings in Intellia Therapeutics by 157.6% in the 1st quarter. Opaleye Management Inc. now owns 255,000 shares of the company’s stock worth $7,015,000 after purchasing an additional 156,000 shares during the period. Virtu Financial LLC acquired a new position in shares of Intellia Therapeutics during the 1st quarter worth approximately $802,000. Comerica Bank lifted its position in shares of Intellia Therapeutics by 853.6% during the 1st quarter. Comerica Bank now owns 37,105 shares of the company’s stock valued at $1,021,000 after buying an additional 33,214 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in Intellia Therapeutics in the 1st quarter valued at $303,000. Finally, Axxcess Wealth Management LLC increased its holdings in Intellia Therapeutics by 6.5% in the 1st quarter. Axxcess Wealth Management LLC now owns 16,602 shares of the company’s stock worth $457,000 after acquiring an additional 1,010 shares in the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

Intellia Therapeutics Company Profile

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.