Intellia Therapeutics (NASDAQ:NTLA) Shares Gap Up to $24.22

Intellia Therapeutics, Inc. (NASDAQ:NTLA) shares gapped up prior to trading on Monday . The stock had previously closed at $24.22, but opened at $26.21. Intellia Therapeutics shares last traded at $26.60, with a volume of 334,605 shares.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NTLA. BMO Capital Markets boosted their price objective on Intellia Therapeutics from $62.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Citigroup dropped their price target on shares of Intellia Therapeutics from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. Wedbush reissued a “neutral” rating and set a $29.00 target price on shares of Intellia Therapeutics in a report on Tuesday, April 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 price target on shares of Intellia Therapeutics in a report on Tuesday, June 18th. Finally, StockNews.com upgraded Intellia Therapeutics to a “sell” rating in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $64.75.

Intellia Therapeutics Trading Up 10.9 %

The business’s fifty day moving average price is $23.59 and its 200-day moving average price is $26.48. The company has a market capitalization of $2.59 billion, a P/E ratio of -4.96 and a beta of 1.84.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($1.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.35) by $0.29. The firm had revenue of $28.94 million during the quarter, compared to analyst estimates of $15.60 million. Intellia Therapeutics had a negative return on equity of 45.35% and a negative net margin of 893.34%. As a group, equities research analysts forecast that Intellia Therapeutics, Inc. will post -4.98 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. ARK Investment Management LLC boosted its stake in shares of Intellia Therapeutics by 14.7% in the 4th quarter. ARK Investment Management LLC now owns 11,412,449 shares of the company’s stock valued at $347,966,000 after purchasing an additional 1,463,820 shares in the last quarter. Vanguard Group Inc. boosted its position in Intellia Therapeutics by 8.9% during the first quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock valued at $250,168,000 after buying an additional 746,263 shares during the period. Norges Bank purchased a new stake in Intellia Therapeutics during the fourth quarter valued at about $16,348,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Intellia Therapeutics during the fourth quarter valued at about $9,086,000. Finally, Vestmark Advisory Solutions Inc. purchased a new position in shares of Intellia Therapeutics in the fourth quarter worth about $8,110,000. 88.77% of the stock is currently owned by institutional investors.

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.