Intellia Therapeutics (NASDAQ:NTLA) Shares Gap Up – Still a Buy?

Intellia Therapeutics, Inc. (NASDAQ:NTLA) gapped up before the market opened on Tuesday . The stock had previously closed at $13.95, but opened at $16.51. Intellia Therapeutics shares last traded at $15.5270, with a volume of 6,886,122 shares traded.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NTLA. HC Wainwright raised their target price on shares of Intellia Therapeutics from $15.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday. Wedbush reduced their target price on shares of Intellia Therapeutics from $9.00 to $7.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. William Blair downgraded shares of Intellia Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, October 27th. Wall Street Zen cut shares of Intellia Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, January 18th. Finally, Citizens Jmp dropped their price target on shares of Intellia Therapeutics from $29.00 to $21.00 and set a “market outperform” rating for the company in a research report on Friday, November 7th. Nine research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.00.

Intellia Therapeutics Stock Up 0.6%

The stock has a fifty day simple moving average of $10.34 and a two-hundred day simple moving average of $12.95.

Intellia Therapeutics (NASDAQ:NTLA) last posted its earnings results on Thursday, November 6th. The company reported ($0.92) EPS for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.10. The firm had revenue of $13.78 million during the quarter, compared to analysts’ expectations of $14.12 million. Intellia Therapeutics had a negative net margin of 774.94% and a negative return on equity of 57.01%. The business’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.34) earnings per share. Equities research analysts expect that Intellia Therapeutics, Inc. will post -5.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP James Basta sold 10,397 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $9.21, for a total value of $95,756.37. Following the completion of the transaction, the executive vice president owned 101,528 shares of the company’s stock, valued at $935,072.88. This represents a 9.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO John M. Leonard sold 34,146 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $9.21, for a total transaction of $314,484.66. Following the completion of the transaction, the chief executive officer owned 1,013,339 shares of the company’s stock, valued at approximately $9,332,852.19. This trade represents a 3.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 53,051 shares of company stock valued at $488,600. 3.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intellia Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Comerica Bank lifted its holdings in shares of Intellia Therapeutics by 45.8% during the fourth quarter. Comerica Bank now owns 2,869 shares of the company’s stock worth $26,000 after purchasing an additional 901 shares during the period. Headlands Technologies LLC bought a new position in Intellia Therapeutics during the 2nd quarter worth $26,000. Blue Bell Private Wealth Management LLC bought a new position in Intellia Therapeutics during the 3rd quarter worth $30,000. Caitong International Asset Management Co. Ltd acquired a new position in Intellia Therapeutics during the 3rd quarter worth about $30,000. Finally, Whipplewood Advisors LLC grew its position in shares of Intellia Therapeutics by 114,900.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 3,450 shares of the company’s stock valued at $32,000 after buying an additional 3,447 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

About Intellia Therapeutics

Intellia Therapeutics, Inc (NASDAQ: NTLA) is a clinical‐stage biotechnology company focused on developing potentially curative genome editing therapies using the CRISPR/Cas9 platform. The company’s research spans both in vivo and ex vivo applications of CRISPR/Cas9, aiming to correct or disable disease‐causing genes with a single administration. Intellia’s lead in vivo program targets transthyretin amyloidosis (ATTR) by delivering CRISPR/Cas9 machinery directly to the liver, while additional preclinical efforts pursue treatments for hemophilia A, hereditary angioedema and other genetic disorders.

Beyond its in vivo pipeline, Intellia collaborates with strategic partners to extend the impact of its genome editing approach.