Intellia Therapeutics (NTLA) Trading -2.8% Higher

Shares of Intellia Therapeutics Inc (NASDAQ:NTLA) traded up 2.8% on Thursday . The company traded as high as $31.43 and last traded at $30.01. 26,143 shares were traded during mid-day trading, a decline of 97% from the average session volume of 1,030,133 shares. The stock had previously closed at $30.88.

A number of equities analysts have commented on the stock. Barclays upped their target price on shares of Intellia Therapeutics from $33.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 7th. JMP Securities assumed coverage on shares of Intellia Therapeutics in a research note on Thursday, March 8th. They issued an “outperform” rating on the stock. Leerink Swann restated an “outperform” rating on shares of Intellia Therapeutics in a research note on Wednesday, March 14th. Chardan Capital upgraded shares of Intellia Therapeutics from a “neutral” rating to a “buy” rating in a research note on Tuesday, May 15th. Finally, ValuEngine upgraded shares of Intellia Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $34.83.

Intellia Therapeutics (NASDAQ:NTLA) last issued its earnings results on Tuesday, May 1st. The company reported ($0.51) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.58) by $0.07. The business had revenue of $7.47 million for the quarter, compared to the consensus estimate of $6.14 million. Intellia Therapeutics had a negative net margin of 278.64% and a negative return on equity of 31.80%. sell-side analysts predict that Intellia Therapeutics Inc will post -2 EPS for the current year.

In other news, Director Jean Francois Formela sold 6,686 shares of the stock in a transaction that occurred on Tuesday, June 19th. The shares were sold at an average price of $27.96, for a total transaction of $186,940.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John M. Leonard sold 8,400 shares of the stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $24.00, for a total transaction of $201,600.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,772 shares of company stock worth $555,958. Insiders own 12.80% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Intellia Therapeutics by 0.7% during the first quarter. BlackRock Inc. now owns 1,722,962 shares of the company’s stock valued at $36,338,000 after purchasing an additional 12,015 shares in the last quarter. ARK Investment Management LLC boosted its stake in shares of Intellia Therapeutics by 269.2% during the fourth quarter. ARK Investment Management LLC now owns 1,375,149 shares of the company’s stock valued at $26,430,000 after purchasing an additional 1,002,671 shares in the last quarter. Farallon Capital Management LLC bought a new position in shares of Intellia Therapeutics during the fourth quarter valued at approximately $21,911,000. Federated Investors Inc. PA boosted its stake in shares of Intellia Therapeutics by 49.5% during the first quarter. Federated Investors Inc. PA now owns 598,100 shares of the company’s stock valued at $12,614,000 after purchasing an additional 198,100 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Intellia Therapeutics by 42.5% during the fourth quarter. Geode Capital Management LLC now owns 195,925 shares of the company’s stock valued at $3,765,000 after purchasing an additional 58,411 shares in the last quarter. Hedge funds and other institutional investors own 60.74% of the company’s stock.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc, a gene editing company, focuses on the development of therapeutics utilizing a biological tool known as the CRISPR/Cas9 system. The company develops in vivo programs focused on liver diseases, including transthyretin amyloidosis, alpha-1 antitrypsin deficiency, hepatitis B virus, and inborn errors of metabolism programs.

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