Intellia Therapeutics (NASDAQ:NTLA) Trading Up 10% – What’s Next?

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s stock price traded up 10% on Friday . The stock traded as high as $10.69 and last traded at $10.60. 1,050,652 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 2,842,250 shares. The stock had previously closed at $9.64.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $90.00 price objective on shares of Intellia Therapeutics in a research note on Tuesday, November 19th. Morgan Stanley cut Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $56.00 to $11.00 in a report on Monday, January 27th. Wedbush reiterated a “neutral” rating and set a $10.00 price objective (down previously from $14.00) on shares of Intellia Therapeutics in a research report on Friday, January 10th. The Goldman Sachs Group dropped their target price on Intellia Therapeutics from $19.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Finally, Oppenheimer reduced their price target on Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Intellia Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.71.

Intellia Therapeutics Price Performance

The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -1.93 and a beta of 1.80. The stock has a 50 day moving average price of $11.41 and a two-hundred day moving average price of $16.64.

Insider Transactions at Intellia Therapeutics

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $12.18, for a total transaction of $326,509.26. Following the completion of the transaction, the chief executive officer now owns 941,115 shares in the company, valued at $11,462,780.70. The trade was a 2.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders have sold 29,000 shares of company stock valued at $352,551. 3.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intellia Therapeutics

Several large investors have recently bought and sold shares of the business. Regeneron Pharmaceuticals Inc. acquired a new position in shares of Intellia Therapeutics during the 4th quarter worth about $43,177,000. Contrarius Group Holdings Ltd acquired a new position in Intellia Therapeutics in the fourth quarter valued at approximately $11,798,000. State Street Corp increased its stake in Intellia Therapeutics by 17.9% in the third quarter. State Street Corp now owns 5,143,534 shares of the company’s stock valued at $105,700,000 after purchasing an additional 780,754 shares during the last quarter. Trexquant Investment LP acquired a new stake in Intellia Therapeutics during the fourth quarter worth approximately $7,785,000. Finally, ARK Investment Management LLC lifted its position in shares of Intellia Therapeutics by 5.7% during the 3rd quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock worth $251,849,000 after buying an additional 659,651 shares during the last quarter. Hedge funds and other 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.