Intellia Therapeutics (NASDAQ:NTLA) Shares Gap Up to $23.00

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) gapped up before the market opened on Thursday . The stock had previously closed at $23.00, but opened at $24.29. Intellia Therapeutics shares last traded at $24.04, with a volume of 103,742 shares changing hands.

Wall Street Analyst Weigh In

NTLA has been the topic of several analyst reports. Wedbush reissued a “neutral” rating and issued a $29.00 target price on shares of Intellia Therapeutics in a report on Tuesday, April 23rd. Wolfe Research started coverage on shares of Intellia Therapeutics in a research note on Thursday, February 15th. They set a “peer perform” rating for the company. Canaccord Genuity Group upped their target price on shares of Intellia Therapeutics from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Finally, The Goldman Sachs Group lowered Intellia Therapeutics from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $136.00 to $32.00 in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Intellia Therapeutics Stock Up 6.7 %

The company has a market cap of $2.37 billion, a P/E ratio of -4.43 and a beta of 1.85. The business has a fifty day simple moving average of $25.64 and a two-hundred day simple moving average of $27.22.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, beating the consensus estimate of ($1.47) by $0.01. The firm had revenue of ($1.92) million during the quarter, compared to analyst estimates of $15.10 million. Intellia Therapeutics had a negative net margin of 893.34% and a negative return on equity of 43.91%. During the same quarter in the prior year, the firm earned ($1.40) EPS. On average, equities analysts predict that Intellia Therapeutics, Inc. will post -5.57 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP James Basta sold 2,297 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $32.99, for a total value of $75,778.03. Following the transaction, the executive vice president now directly owns 81,571 shares of the company’s stock, valued at approximately $2,691,027.29. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

Large investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its holdings in Intellia Therapeutics by 6.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 30,415 shares of the company’s stock worth $962,000 after buying an additional 1,910 shares during the period. Raymond James & Associates grew its position in shares of Intellia Therapeutics by 49.3% during the third quarter. Raymond James & Associates now owns 104,374 shares of the company’s stock worth $3,300,000 after purchasing an additional 34,458 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Intellia Therapeutics by 21.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 31,970 shares of the company’s stock valued at $1,011,000 after purchasing an additional 5,574 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Intellia Therapeutics by 13.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,738 shares of the company’s stock worth $719,000 after purchasing an additional 2,656 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Intellia Therapeutics by 8.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 286,743 shares of the company’s stock worth $9,067,000 after buying an additional 22,633 shares in the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

About Intellia Therapeutics

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.