Intellia Therapeutics (NASDAQ:NTLA) Stock Price Up 8.3% – Time to Buy?

Intellia Therapeutics, Inc. (NASDAQ:NTLA) shares were up 8.3% on Tuesday . The stock traded as high as $13.31 and last traded at $13.5990. Approximately 783,085 shares were traded during trading, a decline of 85% from the average session volume of 5,259,428 shares. The stock had previously closed at $12.56.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Citigroup reiterated a “market outperform” rating on shares of Intellia Therapeutics in a research note on Tuesday. Sanford C. Bernstein raised their price objective on shares of Intellia Therapeutics from $13.00 to $17.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. New Street Research set a $25.00 price target on shares of Intellia Therapeutics in a research note on Monday, June 15th. Wall Street Zen lowered shares of Intellia Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Finally, Evercore raised shares of Intellia Therapeutics from a “hold” rating to an “outperform” rating and set a $24.00 target price for the company in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $21.15.

Intellia Therapeutics Stock Down 2.4%

The firm’s fifty day simple moving average is $13.36 and its 200-day simple moving average is $13.37. The company has a market cap of $1.85 billion, a PE ratio of -3.93 and a beta of 1.81.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.80). The company had revenue of $7.66 million for the quarter, compared to analyst estimates of $12.98 million. Intellia Therapeutics had a negative net margin of 672.16% and a negative return on equity of 57.79%. The firm’s quarterly revenue was down 46.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.98) EPS. On average, analysts predict that Intellia Therapeutics, Inc. will post -3.21 earnings per share for the current year.

Insider Transactions at Intellia Therapeutics

In other news, EVP Edward J. Dulac III sold 4,677 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $18.00, for a total value of $84,186.00. Following the completion of the sale, the executive vice president owned 156,286 shares of the company’s stock, valued at $2,813,148. This represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Michael P. Dube sold 2,641 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $16.78, for a total value of $44,315.98. Following the sale, the chief accounting officer owned 66,886 shares in the company, valued at approximately $1,122,347.08. The trade was a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 3.50% of the stock is currently owned by insiders.

Institutional Trading of Intellia Therapeutics

A number of hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in Intellia Therapeutics by 154.1% in the first quarter. AQR Capital Management LLC now owns 90,875 shares of the company’s stock valued at $646,000 after purchasing an additional 55,118 shares during the last quarter. Woodline Partners LP purchased a new stake in Intellia Therapeutics during the 1st quarter worth approximately $171,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Intellia Therapeutics by 8.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 521,706 shares of the company’s stock valued at $3,709,000 after purchasing an additional 38,521 shares in the last quarter. Creative Planning raised its position in shares of Intellia Therapeutics by 12.9% in the 2nd quarter. Creative Planning now owns 33,102 shares of the company’s stock valued at $310,000 after purchasing an additional 3,795 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of Intellia Therapeutics by 47.4% during the 2nd quarter. Cetera Investment Advisers now owns 33,532 shares of the company’s stock valued at $315,000 after buying an additional 10,785 shares during the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

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.