Intellia Therapeutics (NASDAQ:NTLA) Trading 6.8% Higher

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s stock price shot up 6.8% during trading on Tuesday . The company traded as high as $23.15 and last traded at $22.98. 567,328 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 1,503,972 shares. The stock had previously closed at $21.51.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NTLA shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $54.00 price objective on shares of Intellia Therapeutics in a research note on Thursday. Evercore ISI raised shares of Intellia Therapeutics to a “strong-buy” rating in a research report on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 target price on shares of Intellia Therapeutics in a research report on Monday, June 24th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $73.00 price target on shares of Intellia Therapeutics in a research report on Thursday, June 27th. Finally, Stifel Nicolaus cut their price target on Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Intellia Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.77.

Intellia Therapeutics Trading Up 1.8 %

The stock has a fifty day moving average price of $23.38 and a 200-day moving average price of $24.24. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of -4.28 and a beta of 1.77.

Intellia Therapeutics (NASDAQ:NTLA) last announced its earnings results on Thursday, August 8th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.29). The company had revenue of $7.00 million for the quarter, compared to analyst estimates of $19.68 million. During the same period in the prior year, the business earned ($1.40) EPS. The firm’s quarterly revenue was down 48.5% compared to the same quarter last year. On average, equities analysts expect that Intellia Therapeutics, Inc. will post -5.19 EPS for the current year.

Institutional Investors Weigh In On Intellia Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its position in Intellia Therapeutics by 1,664.3% in the 2nd quarter. Blue Trust Inc. now owns 1,482 shares of the company’s stock worth $33,000 after purchasing an additional 1,398 shares during the last quarter. EverSource Wealth Advisors LLC raised its position 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 valued at $39,000 after acquiring an additional 1,550 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Intellia Therapeutics by 22.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company’s stock valued at $58,000 after purchasing an additional 472 shares during the period. GAMMA Investing LLC boosted its position in shares of Intellia Therapeutics by 1,322.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,645 shares of the company’s stock worth $59,000 after purchasing an additional 2,459 shares during the last quarter. Finally, EntryPoint Capital LLC lifted its stake in Intellia Therapeutics by 61.1% in the first quarter. EntryPoint Capital LLC now owns 4,122 shares of the company’s stock valued at $113,000 after buying an additional 1,563 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.