Intellia Therapeutics (NASDAQ:NTLA) Sees Large Volume Increase on Analyst Upgrade

Intellia Therapeutics, Inc. (NASDAQ:NTLA) saw unusually-strong trading volume on Monday after Chardan Capital raised their price target on the stock from $88.00 to $91.00. Chardan Capital currently has a buy rating on the stock. Approximately 1,842,006 shares traded hands during mid-day trading, an increase of 10% from the previous session’s volume of 1,679,987 shares.The stock last traded at $13.69 and had previously closed at $13.97.

Several other equities research analysts also recently commented on NTLA. Oppenheimer dropped their target price on Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Wedbush reiterated a “neutral” rating and issued a $14.00 price target on shares of Intellia Therapeutics in a research note on Thursday, November 7th. Stifel Nicolaus reduced their price objective on shares of Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. StockNews.com upgraded shares of Intellia Therapeutics to a “sell” rating in a research note on Friday, November 8th. Finally, Barclays reduced their price target on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.88.

Insider Buying and Selling

In related news, CAO Michael P. Dube sold 2,012 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total value of $38,248.12. Following the transaction, the chief accounting officer now owns 47,012 shares of the company’s stock, valued at approximately $893,698.12. This trade represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp increased its stake 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 purchasing an additional 780,754 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Intellia Therapeutics by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock valued at $250,168,000 after buying an additional 746,263 shares in the last quarter. ARK Investment Management LLC lifted its position in shares of Intellia Therapeutics by 5.7% during the 3rd quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock valued at $251,849,000 after buying an additional 659,651 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Intellia Therapeutics by 19.2% during the 2nd quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock valued at $51,494,000 after acquiring an additional 371,189 shares during the period. Finally, Two Sigma Advisers LP increased its holdings 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 acquiring an additional 257,700 shares in the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Intellia Therapeutics Trading Up 1.4 %

The company has a market cap of $1.44 billion, a P/E ratio of -2.58 and a beta of 1.81. The business’s 50 day simple moving average is $18.64 and its 200 day simple moving average is $22.04.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) EPS for the quarter, beating the consensus estimate of ($1.37) by $0.03. The firm had revenue of $9.10 million for the quarter, compared to the consensus estimate of $8.28 million. The firm’s revenue for the quarter was down 24.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.38) earnings per share. Sell-side analysts anticipate that Intellia Therapeutics, Inc. will post -5.13 EPS for the current year.

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.