Intellia Therapeutics (NASDAQ:NTLA) Sees Unusually-High Trading Volume on Analyst Upgrade

Shares of 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 research firms also recently commented on NTLA. Robert W. Baird dropped their target price on Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Barclays lowered their price target on Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Wedbush reiterated a “neutral” rating and issued a $14.00 price objective on shares of Intellia Therapeutics in a research note on Thursday, November 7th. Stifel Nicolaus reduced their price target on Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $54.00 price objective on shares of Intellia Therapeutics in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.94.

Insider Buying and Selling at Intellia Therapeutics

In other news, CAO Michael P. Dube sold 2,012 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total transaction of $38,248.12. Following the sale, the chief accounting officer now owns 47,012 shares in the company, valued at $893,698.12. This represents a 4.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in Intellia Therapeutics by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,343,310 shares of the company’s stock worth $48,164,000 after purchasing an additional 49,367 shares during the last quarter. Barclays PLC lifted its position in shares of Intellia Therapeutics by 17.7% during the 3rd quarter. Barclays PLC now owns 292,795 shares of the company’s stock valued at $6,017,000 after acquiring an additional 44,022 shares during the period. Two Sigma Advisers LP boosted its stake in Intellia Therapeutics by 33.5% during the third 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. Sphera Funds Management LTD. grew its stake in shares of Intellia Therapeutics by 108.8% in the 3rd quarter. Sphera Funds Management LTD. now owns 291,080 shares of the company’s stock valued at $5,982,000 after buying an additional 151,661 shares during the period. Finally, State Street Corp grew its stake in Intellia Therapeutics by 17.9% in the third quarter. State Street Corp now owns 5,143,534 shares of the company’s stock valued at $105,700,000 after acquiring an additional 780,754 shares during the period. Institutional investors own 88.77% of the company’s stock.

Intellia Therapeutics Stock Performance

The company has a market capitalization of $1.44 billion, a P/E ratio of -2.60 and a beta of 1.81. The business has a fifty day moving average of $18.52 and a 200-day moving average of $21.97.

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

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.