Intellia Therapeutics (NTLA) Trading 6.8% Higher

Intellia Therapeutics Inc (NASDAQ:NTLA) traded up 6.8% during mid-day trading on Tuesday . The stock traded as high as $31.72 and last traded at $31.36. 671,334 shares were traded during trading, a decline of 36% from the average session volume of 1,049,826 shares. The stock had previously closed at $29.36.

Several equities research analysts have issued reports on the stock. BidaskClub upgraded shares of Intellia Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 16th. ValuEngine upgraded shares of Intellia Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd. Wedbush restated an “outperform” rating and set a $36.00 price objective on shares of Intellia Therapeutics in a research report on Friday, May 18th. Chardan Capital upgraded shares of Intellia Therapeutics from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 15th. Finally, TheStreet downgraded shares of Intellia Therapeutics from a “c-” rating to a “d” rating in a research report on Monday, May 7th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $34.83.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings data on Tuesday, May 1st. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.58) by $0.07. Intellia Therapeutics had a negative net margin of 278.64% and a negative return on equity of 31.80%. The firm had revenue of $7.47 million during the quarter, compared to the consensus estimate of $6.14 million. equities research analysts expect that Intellia Therapeutics Inc will post -2 EPS for the current year.

In other news, insider John M. Leonard sold 8,400 shares of the firm’s stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $24.00, for a total transaction of $201,600.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jean Francois Formela sold 6,686 shares of the firm’s stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $25.04, for a total transaction of $167,417.44. The disclosure for this sale can be found here. Insiders have sold 28,458 shares of company stock worth $764,361 over the last ninety days. Insiders own 12.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in NTLA. Schwab Charles Investment Management Inc. increased its holdings in shares of Intellia Therapeutics by 37.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 79,129 shares of the company’s stock worth $1,521,000 after purchasing an additional 21,637 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Intellia Therapeutics by 108.0% during the fourth quarter. Wells Fargo & Company MN now owns 34,767 shares of the company’s stock worth $668,000 after purchasing an additional 18,050 shares during the period. BlackRock Inc. increased its holdings in shares of Intellia Therapeutics by 1.9% during the fourth quarter. BlackRock Inc. now owns 1,710,947 shares of the company’s stock worth $32,885,000 after purchasing an additional 31,662 shares during the period. Geode Capital Management LLC increased its holdings in shares of Intellia Therapeutics by 42.5% during the fourth quarter. Geode Capital Management LLC now owns 195,925 shares of the company’s stock worth $3,765,000 after purchasing an additional 58,411 shares during the period. Finally, Deutsche Bank AG increased its holdings in shares of Intellia Therapeutics by 8.5% during the fourth quarter. Deutsche Bank AG now owns 41,744 shares of the company’s stock worth $800,000 after purchasing an additional 3,279 shares during the period. 60.74% of the stock is currently owned by institutional investors.

About Intellia Therapeutics

Intellia Therapeutics, Inc, a gene editing company, focuses on the development of therapeutics utilizing a biological tool known as the CRISPR/Cas9 system. The company develops in vivo programs focused on liver diseases, including transthyretin amyloidosis, alpha-1 antitrypsin deficiency, hepatitis B virus, and inborn errors of metabolism programs.

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