Intellia Therapeutics (NASDAQ:NTLA) Sees Strong Trading Volume on Analyst Upgrade

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) saw unusually-strong trading volume on Monday after Chardan Capital raised their price target on the stock from $88.00 to $91.00. Chardan Capital currently has a buy rating on the stock. Approximately 1,842,006 shares traded hands during mid-day trading, an increase of 10% from the previous session’s volume of 1,679,987 shares.The stock last traded at $13.69 and had previously closed at $13.97.

A number of other analysts have also recently issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Stifel Nicolaus lowered their price target on shares of Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Barclays reduced their price objective on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Wedbush reiterated a “neutral” rating and issued a $14.00 target price on shares of Intellia Therapeutics in a research note on Thursday, November 7th. Finally, Oppenheimer reduced their price target on shares of Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.88.

Insider Buying and Selling

In related news, CAO Michael P. Dube sold 2,012 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total value of $38,248.12. Following the sale, the chief accounting officer now directly owns 47,012 shares of the company’s stock, valued at $893,698.12. This trade represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intellia Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of NTLA. Blue Trust Inc. raised its holdings in shares of Intellia Therapeutics by 1,664.3% during the second quarter. Blue Trust Inc. now owns 1,482 shares of the company’s stock valued at $33,000 after acquiring an additional 1,398 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Intellia Therapeutics by 763.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock worth $39,000 after purchasing an additional 1,550 shares during the period. Eastern Bank bought a new stake in shares of Intellia Therapeutics during the 3rd quarter valued at about $41,000. Values First Advisors Inc. bought a new position in Intellia Therapeutics in the third quarter worth about $54,000. Finally, First Horizon Advisors Inc. lifted its holdings in Intellia Therapeutics by 22.1% in the second quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company’s stock worth $58,000 after buying an additional 472 shares during the period. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Intellia Therapeutics Stock Performance

The firm has a market capitalization of $1.44 billion, a P/E ratio of -2.58 and a beta of 1.81. The company has a 50-day simple moving average of $18.64 and a two-hundred day simple moving average of $22.04.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.03. The firm had revenue of $9.10 million during the quarter, compared to the consensus estimate of $8.28 million. Intellia Therapeutics’s revenue for the quarter was down 24.1% compared to the same quarter last year. During the same quarter last year, the company posted ($1.38) EPS. As a group, research analysts forecast that Intellia Therapeutics, Inc. will post -5.13 earnings per share for the current fiscal year.

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.