Intellia Therapeutics (NASDAQ:NTLA) Shares Up 11.8% – Here’s Why

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s stock price shot up 11.8% during trading on Monday . The stock traded as high as $13.56 and last traded at $13.54. 2,720,228 shares traded hands during trading, a decline of 51% from the average session volume of 5,497,521 shares. The stock had previously closed at $12.11.

Analyst Upgrades and Downgrades

Several research firms recently commented on NTLA. Bank of America reiterated a “neutral” rating on shares of Intellia Therapeutics in a research report on Monday, March 2nd. William Blair upgraded shares of Intellia Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Monday, March 2nd. The Goldman Sachs Group lifted their target price on shares of Intellia Therapeutics from $8.00 to $9.00 and gave the stock a “sell” rating in a research report on Tuesday, April 28th. Sanford C. Bernstein raised their price target on shares of Intellia Therapeutics from $13.00 to $17.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Finally, JonesTrading upgraded shares of Intellia Therapeutics from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Intellia Therapeutics currently has an average rating of “Hold” and a consensus target price of $20.46.

Intellia Therapeutics Stock Performance

The firm’s 50 day moving average price is $13.66 and its two-hundred day moving average price is $12.41. The company has a market cap of $2.12 billion, a P/E ratio of -4.29 and a beta of 1.92.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.11. The company had revenue of $15.05 million during the quarter, compared to analyst estimates of $13.81 million. Intellia Therapeutics had a negative net margin of 597.04% and a negative return on equity of 57.47%. During the same quarter in the previous year, the business posted ($1.10) EPS. As a group, analysts forecast that Intellia Therapeutics, Inc. will post -3.18 EPS for the current fiscal year.

Institutional Trading of Intellia Therapeutics

Several hedge funds have recently modified their holdings of the stock. Contrarius Group Holdings Ltd boosted its holdings in Intellia Therapeutics by 279.4% during the 3rd quarter. Contrarius Group Holdings Ltd now owns 5,889,936 shares of the company’s stock worth $101,719,000 after acquiring an additional 4,337,428 shares during the last quarter. ARK Investment Management LLC boosted its holdings in Intellia Therapeutics by 19.2% during the 4th quarter. ARK Investment Management LLC now owns 14,207,324 shares of the company’s stock worth $127,724,000 after acquiring an additional 2,288,146 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Intellia Therapeutics by 17.8% during the 4th quarter. Vanguard Group Inc. now owns 13,010,001 shares of the company’s stock worth $116,960,000 after acquiring an additional 1,965,181 shares during the last quarter. State Street Corp boosted its holdings in Intellia Therapeutics by 29.1% during the 4th quarter. State Street Corp now owns 6,418,836 shares of the company’s stock worth $57,705,000 after acquiring an additional 1,447,967 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Intellia Therapeutics in the 1st quarter worth about $17,913,000. Institutional investors own 88.77% of the company’s stock.

Intellia Therapeutics Company Profile

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.