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

Intellia Therapeutics, Inc. (NASDAQ:NTLA) shares gapped up before the market opened on Thursday . The stock had previously closed at $10.13, but opened at $10.72. Intellia Therapeutics shares last traded at $10.4580, with a volume of 1,772,849 shares traded.

Analyst Ratings Changes

NTLA has been the topic of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Intellia Therapeutics in a research note on Wednesday, October 8th. Wells Fargo & Company decreased their target price on shares of Intellia Therapeutics from $17.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Friday, November 7th. Oppenheimer set a $27.00 target price on shares of Intellia Therapeutics in a report on Friday, November 7th. William Blair cut Intellia Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, October 27th. Finally, Jones Trading downgraded Intellia Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Eleven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $18.43.

Intellia Therapeutics Stock Up 3.1%

The firm has a market capitalization of $1.21 billion, a P/E ratio of -2.43 and a beta of 2.05. The business’s 50 day moving average is $9.52 and its 200-day moving average is $12.68.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Thursday, November 6th. The company reported ($0.92) earnings per share for the quarter, topping the consensus estimate of ($1.02) by $0.10. Intellia Therapeutics had a negative return on equity of 57.01% and a negative net margin of 774.94%.The firm had revenue of $13.78 million during the quarter, compared to analysts’ expectations of $14.12 million. During the same period in the prior year, the company earned ($1.34) earnings per share. The company’s quarterly revenue was up 51.6% on a year-over-year basis. Research analysts forecast that Intellia Therapeutics, Inc. will post -5.07 EPS for the current fiscal year.

Insider Activity at Intellia Therapeutics

In other Intellia Therapeutics news, CEO John M. Leonard sold 34,146 shares of Intellia Therapeutics stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $9.21, for a total value of $314,484.66. Following the transaction, the chief executive officer owned 1,013,339 shares in the company, valued at $9,332,852.19. The trade was a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Birgit C. Schultes sold 8,508 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $9.21, for a total transaction of $78,358.68. Following the completion of the sale, the executive vice president owned 98,533 shares in the company, valued at approximately $907,488.93. The trade was a 7.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 53,051 shares of company stock valued at $488,600 over the last ninety days. 3.10% of the stock is owned by corporate insiders.

Institutional Trading of Intellia Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC boosted its holdings in shares of Intellia Therapeutics by 154.1% during the 1st quarter. AQR Capital Management LLC now owns 90,875 shares of the company’s stock valued at $646,000 after acquiring an additional 55,118 shares in the last quarter. Arete Wealth Advisors LLC raised its position in Intellia Therapeutics by 21.8% in the first quarter. Arete Wealth Advisors LLC now owns 12,512 shares of the company’s stock valued at $89,000 after purchasing an additional 2,240 shares during the last quarter. Woodline Partners LP acquired a new stake in shares of Intellia Therapeutics during the first quarter valued at about $171,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Intellia Therapeutics by 8.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 521,706 shares of the company’s stock valued at $3,709,000 after purchasing an additional 38,521 shares in the last quarter. Finally, Voya Investment Management LLC grew its holdings in shares of Intellia Therapeutics by 621.5% during the first quarter. Voya Investment Management LLC now owns 208,009 shares of the company’s stock worth $1,479,000 after purchasing an additional 179,180 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

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.