Intellia Therapeutics (NASDAQ:NTLA) Stock Price Up 4.6% – Time to Buy?

Intellia Therapeutics, Inc. (NASDAQ:NTLA) rose 4.6% during trading on Thursday . The company traded as high as $9.76 and last traded at $9.80. Approximately 1,521,325 shares were traded during trading, a decline of 54% from the average daily volume of 3,298,485 shares. The stock had previously closed at $9.37.

Analysts Set New Price Targets

NTLA has been the topic of a number of research analyst reports. Barclays reduced their price objective on shares of Intellia Therapeutics from $55.00 to $26.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Morgan Stanley cut shares of Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $56.00 to $11.00 in a report on Monday, January 27th. Truist Financial dropped their target price on shares of Intellia Therapeutics from $90.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday. The Goldman Sachs Group reissued a “sell” rating and set a $9.00 target price on shares of Intellia Therapeutics in a report on Friday, February 28th. Finally, BMO Capital Markets dropped their target price on shares of Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Intellia Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $37.56.

Intellia Therapeutics Trading Up 4.5 %

The company has a market capitalization of $1.07 billion, a P/E ratio of -1.90 and a beta of 1.97. The business’s 50-day simple moving average is $10.61 and its 200 day simple moving average is $15.19.

Insiders Place Their Bets

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of the business’s stock in a transaction dated 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 directly owns 941,115 shares in the company, valued at approximately $11,462,780.70. The trade was a 2.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 29,000 shares of company stock worth $352,551. 3.20% of the stock is owned by corporate insiders.

Institutional Trading of Intellia Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new stake in shares of Intellia Therapeutics during the 4th quarter worth about $25,000. Sterling Capital Management LLC grew its stake in shares of Intellia Therapeutics by 866.2% in the 4th quarter. Sterling Capital Management LLC now owns 3,198 shares of the company’s stock worth $37,000 after purchasing an additional 2,867 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in shares of Intellia Therapeutics in the 4th quarter worth approximately $40,000. Resona Asset Management Co. Ltd. acquired a new position in shares of Intellia Therapeutics in the 4th quarter worth approximately $43,000. Finally, KBC Group NV grew its stake in shares of Intellia Therapeutics by 37.3% in the 3rd quarter. KBC Group NV now owns 3,753 shares of the company’s stock worth $77,000 after purchasing an additional 1,020 shares during the last quarter. 88.77% of the stock is currently owned by 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.