Intellia Therapeutics (NASDAQ:NTLA) Announces Earnings Results

Intellia Therapeutics (NASDAQ:NTLA) released its earnings results on Thursday. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.11), FiscalAI reports. The business had revenue of $7.16 million during the quarter, compared to analysts’ expectations of $9.74 million. Intellia Therapeutics had a negative net margin of 672.16% and a negative return on equity of 57.79%. Intellia Therapeutics’s revenue for the quarter was down 47.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.92) EPS.

Intellia Therapeutics Stock Up 2.3%

NTLA traded up $0.25 during trading on Friday, reaching $11.35. 4,402,763 shares of the company’s stock were exchanged, compared to its average volume of 5,430,535. Intellia Therapeutics has a fifty-two week low of $7.95 and a fifty-two week high of $18.48. The business has a 50 day moving average price of $12.09 and a 200 day moving average price of $13.05.

Insider Activity

In other news, CEO John M. Leonard sold 9,000 shares of the firm’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $11.99, for a total transaction of $107,910.00. Following the completion of the transaction, the chief executive officer directly owned 1,138,064 shares of the company’s stock, valued at approximately $13,645,387.36. This trade represents a 0.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on NTLA. Citizens Jmp reaffirmed a “market outperform” rating and issued a $30.00 price target on shares of Intellia Therapeutics in a research note on Wednesday, September 9th. Barclays began coverage on shares of Intellia Therapeutics in a report on Tuesday, October 6th. They set an “underweight” rating and a $8.00 price objective for the company. Wedbush raised their target price on Intellia Therapeutics from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, September 9th. Wall Street Zen downgraded shares of Intellia Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Finally, Evercore raised Intellia Therapeutics from a “hold” rating to an “outperform” rating and set a $24.00 target price on the stock in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Intellia Therapeutics has a consensus rating of “Hold” and an average target price of $20.57.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc is a biotechnology company focused on developing potentially curative treatments using CRISPR-based gene-editing technology. The company is working to create therapies that can modify disease-causing genes inside the body, with the goal of addressing the underlying causes of serious genetic diseases rather than treating only their symptoms.

Intellia’s pipeline has included NTLA-2001, an investigational in vivo gene-editing therapy designed to reduce production of transthyretin for the treatment of transthyretin amyloidosis, and NTLA-2002, an investigational therapy intended to target hereditary angioedema.