Intellia Therapeutics Target of Unusually High Options Trading (NASDAQ:NTLA)

Intellia Therapeutics, Inc. (NASDAQ:NTLA) was the target of some unusual options trading activity on Wednesday. Traders bought 4,349 call options on the stock. This is an increase of approximately 32% compared to the average daily volume of 3,291 call options.

Intellia Therapeutics Stock Up 11.4%

Intellia Therapeutics stock traded up $1.66 during trading on Wednesday, reaching $16.21. The stock had a trading volume of 5,492,489 shares, compared to its average volume of 5,648,091. Intellia Therapeutics has a 52-week low of $7.95 and a 52-week high of $28.25. The business has a 50 day moving average price of $13.66 and a 200 day moving average price of $12.41. The stock has a market cap of $2.26 billion, a PE ratio of -4.58 and a beta of 1.92.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.11. Intellia Therapeutics had a negative net margin of 597.04% and a negative return on equity of 57.47%. The company had revenue of $15.05 million during the quarter, compared to the consensus estimate of $13.81 million. During the same quarter in the previous year, the firm earned ($1.10) earnings per share. On average, equities analysts predict that Intellia Therapeutics will post -3.18 EPS for the current fiscal year.

Analyst Ratings Changes

NTLA has been the subject of several recent research reports. Bank of America reissued a “neutral” rating on shares of Intellia Therapeutics in a research note on Monday, March 2nd. Truist Financial raised shares of Intellia Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. JonesTrading raised shares of Intellia Therapeutics from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Wednesday, March 4th. Leerink Partners set a $35.00 price target on shares of Intellia Therapeutics in a research note on Monday, April 27th. Finally, Citigroup reiterated a “market outperform” rating on shares of Intellia Therapeutics in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.46.

Institutional Trading of Intellia Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NTLA. Comerica Bank raised its holdings in Intellia Therapeutics by 45.8% during the fourth quarter. Comerica Bank now owns 2,869 shares of the company’s stock worth $26,000 after purchasing an additional 901 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Intellia Therapeutics during the second quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in Intellia Therapeutics during the third quarter worth approximately $30,000. Advisory Services Network LLC acquired a new stake in Intellia Therapeutics during the third quarter worth approximately $33,000. Finally, Spire Wealth Management acquired a new stake in Intellia Therapeutics during the fourth quarter worth approximately $37,000. Institutional investors and hedge funds 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.