Intellia Therapeutics (NASDAQ:NTLA) Trading Down 4.6%

Intellia Therapeutics, Inc. (NASDAQ:NTLA) traded down 4.6% during mid-day trading on Tuesday . The company traded as low as $21.84 and last traded at $21.88. 505,893 shares were traded during mid-day trading, a decline of 68% from the average session volume of 1,559,045 shares. The stock had previously closed at $22.94.

Analysts Set New Price Targets

Several equities analysts have recently commented on NTLA shares. Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 target price on shares of Intellia Therapeutics in a research report on Monday, June 24th. Canaccord Genuity Group restated a “buy” rating and issued a $73.00 target price on shares of Intellia Therapeutics in a research report on Thursday, June 27th. Wedbush restated a “neutral” rating and issued a $29.00 target price on shares of Intellia Therapeutics in a research report on Tuesday, April 23rd. BMO Capital Markets boosted their target price on shares of Intellia Therapeutics from $62.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Finally, Truist Financial reissued a “buy” rating and issued a $120.00 price objective on shares of Intellia Therapeutics in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Intellia Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $69.00.

Intellia Therapeutics Stock Up 6.4 %

The company’s 50 day moving average price is $23.99 and its 200-day moving average price is $25.84. The stock has a market cap of $2.38 billion, a P/E ratio of -4.60 and a beta of 1.82.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings results on Thursday, May 9th. The company reported ($1.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.35) by $0.29. The business had revenue of $28.94 million for the quarter, compared to the consensus estimate of $15.60 million. Equities research analysts anticipate that Intellia Therapeutics, Inc. will post -4.98 earnings per share for the current year.

Hedge Funds Weigh In On Intellia Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Los Angeles Capital Management LLC raised its stake in Intellia Therapeutics by 3.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 11,695 shares of the company’s stock worth $357,000 after buying an additional 422 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Intellia Therapeutics by 7.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 8,144 shares of the company’s stock worth $248,000 after purchasing an additional 582 shares during the period. Axxcess Wealth Management LLC grew its holdings in Intellia Therapeutics by 4.0% in the fourth quarter. Axxcess Wealth Management LLC now owns 15,592 shares of the company’s stock worth $475,000 after purchasing an additional 594 shares during the period. Interchange Capital Partners LLC grew its holdings in Intellia Therapeutics by 6.3% in the fourth quarter. Interchange Capital Partners LLC now owns 10,239 shares of the company’s stock worth $311,000 after purchasing an additional 605 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Intellia Therapeutics by 2.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,385 shares of the company’s stock worth $713,000 after purchasing an additional 647 shares during the period. Institutional investors own 88.77% of the company’s stock.

Intellia Therapeutics Company Profile

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.