Intellia Therapeutics, Inc. (NASDAQ:NTLA) Short Interest Update

Intellia Therapeutics, Inc. (NASDAQ:NTLA) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 9,630,000 shares, a growth of 18.6% from the October 15th total of 8,120,000 shares. Based on an average daily trading volume, of 991,100 shares, the short-interest ratio is presently 9.7 days.

Intellia Therapeutics Trading Up 11.1 %

Shares of NTLA stock opened at $26.45 on Wednesday. The company’s fifty day simple moving average is $30.31 and its 200-day simple moving average is $37.41. Intellia Therapeutics has a 52 week low of $22.67 and a 52 week high of $57.49. The company has a market cap of $2.37 billion, a PE ratio of -4.93 and a beta of 1.76.

Intellia Therapeutics (NASDAQ:NTLA) last issued its earnings results on Thursday, November 9th. The company reported ($1.38) EPS for the quarter, beating analysts’ consensus estimates of ($1.52) by $0.14. The business had revenue of $11.99 million for the quarter, compared to the consensus estimate of $12.45 million. Intellia Therapeutics had a negative net margin of 893.34% and a negative return on equity of 39.29%. The business’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.49) EPS. Equities research analysts expect that Intellia Therapeutics will post -5.64 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on NTLA. Raymond James reduced their target price on shares of Intellia Therapeutics from $78.00 to $57.00 and set an “outperform” rating for the company in a report on Friday, November 10th. BMO Capital Markets lowered their target price on shares of Intellia Therapeutics from $64.00 to $62.00 and set an “outperform” rating on the stock in a research report on Friday, November 10th. Barclays lowered their target price on shares of Intellia Therapeutics from $148.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, August 4th. Canaccord Genuity Group lowered their target price on shares of Intellia Therapeutics from $66.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, August 7th. Finally, Wedbush restated a “neutral” rating and set a $45.00 target price on shares of Intellia Therapeutics in a research report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Intellia Therapeutics has an average rating of “Moderate Buy” and an average price target of $77.70.

Institutional Investors Weigh In On Intellia Therapeutics

Large investors have recently added to or reduced their stakes in the company. Signaturefd LLC increased its position in shares of Intellia Therapeutics by 149.1% in the 1st quarter. Signaturefd LLC now owns 792 shares of the company’s stock worth $30,000 after purchasing an additional 474 shares during the last quarter. Sandia Investment Management LP bought a new stake in shares of Intellia Therapeutics in the 4th quarter worth about $35,000. Jefferies Financial Group Inc. bought a new stake in shares of Intellia Therapeutics in the 4th quarter worth about $38,000. ICA Group Wealth Management LLC bought a new stake in shares of Intellia Therapeutics in the 4th quarter worth about $62,000. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of Intellia Therapeutics by 95.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,263 shares of the company’s stock worth $72,000 after purchasing an additional 1,108 shares during the last quarter. 87.72% of the stock is owned by institutional investors and hedge funds.

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; and NTLA-2002 for the treatment of hereditary angioedema, as well as for other product candidates, including NTLA-2003 for alpha-1 antitrypsin deficiency-liver disease; and NTLA-3001 for alpha-1 antitrypsin deficiency-lung disease; and NTLA-6001 for CD30+ lymphomas.