Intellia Therapeutics (NASDAQ:NTLA) Shares Up 11.8% – Time to Buy?

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

Analyst Ratings Changes

A number of brokerages have issued reports on NTLA. Bank of America reissued a “neutral” rating on shares of Intellia Therapeutics in a report on Monday, March 2nd. Wedbush reaffirmed a “neutral” rating and issued a $12.00 price target on shares of Intellia Therapeutics in a report on Monday. Citigroup reaffirmed a “market outperform” rating on shares of Intellia Therapeutics in a report on Monday. Morgan Stanley upped their price target on Intellia Therapeutics from $11.00 to $15.00 and gave the stock an “equal weight” rating in a report on Monday, April 27th. Finally, Chardan Capital upped their price target on Intellia Therapeutics from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $20.46.

Intellia Therapeutics Price Performance

The firm has a market capitalization of $1.92 billion, a PE ratio of -3.87 and a beta of 1.92. The company’s fifty day simple moving average is $13.60 and its 200-day simple moving average is $12.32.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results 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. Intellia Therapeutics had a negative return on equity of 57.47% and a negative net margin of 597.04%.The business had revenue of $15.05 million for the quarter, compared to the consensus estimate of $13.81 million. During the same quarter last year, the business posted ($1.10) earnings per share. Analysts forecast that Intellia Therapeutics, Inc. will post -3.18 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NTLA. Contrarius Group Holdings Ltd grew its stake 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 purchasing an additional 4,337,428 shares in the last quarter. ARK Investment Management LLC grew its stake 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 purchasing an additional 2,288,146 shares in the last quarter. Vanguard Group Inc. grew its stake 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 purchasing an additional 1,965,181 shares in the last quarter. State Street Corp grew its stake 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 purchasing an additional 1,447,967 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Intellia Therapeutics during the first quarter worth $17,913,000. 88.77% of the stock is owned by institutional investors and hedge funds.

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.