Intellia Therapeutics (NASDAQ:NTLA) Reaches New 1-Year High Following Analyst Upgrade

Intellia Therapeutics, Inc. (NASDAQ:NTLA)’s stock price reached a new 52-week high during trading on Monday after Citizens Jmp upgraded the stock from a market perform rating to an outperform rating. Citizens Jmp now has a $33.00 price target on the stock. Intellia Therapeutics traded as high as $21.49 and last traded at $20.96, with a volume of 438951 shares changing hands. The stock had previously closed at $19.96.

Several other research firms have also commented on NTLA. JMP Securities upgraded Intellia Therapeutics from a “market perform” rating to a “market outperform” rating and set a $33.00 price target for the company in a research report on Monday. Wall Street Zen upgraded Intellia Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Guggenheim reiterated a “buy” rating and issued a $14.00 price target on shares of Intellia Therapeutics in a research report on Wednesday, August 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intellia Therapeutics in a research report on Saturday, September 27th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $45.00 price target (down previously from $50.00) on shares of Intellia Therapeutics in a research report on Friday, August 8th. Thirteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $27.95.

Insider Buying and Selling

In related news, EVP Edward J. Dulac III sold 7,462 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $14.02, for a total value of $104,617.24. Following the completion of the transaction, the executive vice president owned 106,062 shares of the company’s stock, valued at $1,486,989.24. The trade was a 6.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William J. Chase acquired 100,000 shares of Intellia Therapeutics stock in a transaction that occurred on Wednesday, August 20th. The stock was acquired at an average cost of $10.03 per share, with a total value of $1,003,000.00. Following the purchase, the director directly owned 134,693 shares of the company’s stock, valued at $1,350,970.79. This represents a 288.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 9,364 shares of company stock valued at $137,674 over the last 90 days. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

A number of large investors have recently made changes to their positions in the business. Benjamin Edwards Inc. increased its position in shares of Intellia Therapeutics by 1.8% during the second quarter. Benjamin Edwards Inc. now owns 63,034 shares of the company’s stock worth $591,000 after purchasing an additional 1,126 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Intellia Therapeutics by 8.2% in the 1st quarter. HighTower Advisors LLC now owns 16,921 shares of the company’s stock valued at $120,000 after acquiring an additional 1,282 shares during the period. Johnson Financial Group Inc. boosted its holdings in Intellia Therapeutics by 24.8% in the second quarter. Johnson Financial Group Inc. now owns 6,988 shares of the company’s stock valued at $66,000 after purchasing an additional 1,388 shares during the last quarter. Harbour Investments Inc. boosted its holdings in Intellia Therapeutics by 27.2% in the second quarter. Harbour Investments Inc. now owns 6,633 shares of the company’s stock valued at $62,000 after purchasing an additional 1,419 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Intellia Therapeutics by 13.9% in the second quarter. Ameriprise Financial Inc. now owns 11,803 shares of the company’s stock valued at $111,000 after purchasing an additional 1,443 shares during the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

Intellia Therapeutics Price Performance

The company has a market capitalization of $2.20 billion, a PE ratio of -4.38 and a beta of 2.37. The firm’s fifty day simple moving average is $13.03 and its 200 day simple moving average is $10.41.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.99) EPS for the quarter, beating the consensus estimate of ($1.03) by $0.04. Intellia Therapeutics had a negative net margin of 908.48% and a negative return on equity of 57.48%. The company had revenue of $14.25 million for the quarter, compared to analyst estimates of $12.26 million. During the same period in the prior year, the company earned ($1.52) earnings per share. The firm’s revenue was up 104.3% on a year-over-year basis. On average, equities research analysts anticipate that Intellia Therapeutics, Inc. will post -5.07 EPS for the current fiscal year.

Intellia Therapeutics Company Profile

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.