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

Intellia Therapeutics, Inc. (NASDAQ:NTLA) shot up 6.5% during trading on Wednesday . The company traded as high as $10.40 and last traded at $10.24. 317,037 shares traded hands during 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 equities analysts have commented on the stock. Barclays decreased their price objective on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, November 8th. William Blair reissued a “neutral” rating and set a $14.00 price target on shares of Intellia Therapeutics in a research report on Monday, November 18th. Canaccord Genuity Group reissued a “buy” rating and issued a $90.00 price target on shares of Intellia Therapeutics in a research note on Tuesday, November 19th. Wedbush reiterated a “neutral” rating and set a $10.00 price target (down previously from $14.00) on shares of Intellia Therapeutics in a research note on Friday, January 10th. Finally, StockNews.com upgraded shares of Intellia Therapeutics to a “sell” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.71.

Intellia Therapeutics Trading Up 8.7 %

The business’s 50 day moving average price is $12.05 and its two-hundred day moving average price is $17.26. The stock has a market cap of $1.06 billion, a P/E ratio of -1.93 and a beta of 1.80.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.37) by $0.03. The firm had revenue of $9.10 million during the quarter, compared to analysts’ expectations of $8.28 million. During the same period in the prior year, the company posted ($1.38) earnings per share. The company’s revenue was down 24.1% compared to the same quarter last year. As a group, analysts expect that Intellia Therapeutics, Inc. will post -5.07 earnings per share for the current year.

Insider Buying and Selling at Intellia Therapeutics

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $12.18, for a total transaction of $326,509.26. Following the sale, the chief executive officer now 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 29,000 shares of company stock valued at $352,551 in the last quarter. 3.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Intellia Therapeutics

Hedge funds have recently modified their holdings of the company. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its stake in Intellia Therapeutics by 77.1% in the fourth quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 62,000 shares of the company’s stock valued at $723,000 after purchasing an additional 27,000 shares during the period. Oppenheimer & Co. Inc. purchased a new position in Intellia Therapeutics in the 4th quarter worth approximately $209,000. Whipplewood Advisors LLC acquired a new position in Intellia Therapeutics during the 4th quarter worth $40,000. ARK Investment Management LLC lifted its holdings in Intellia Therapeutics by 2.3% in the fourth quarter. ARK Investment Management LLC now owns 12,536,386 shares of the company’s stock worth $146,174,000 after acquiring an additional 280,946 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in Intellia Therapeutics in the 4th quarter valued at about $304,000. 88.77% of the stock is owned by hedge funds and other 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.