Intellia Therapeutics (NASDAQ:NTLA) Sees Unusually-High Trading Volume Following Analyst Upgrade

Intellia Therapeutics, Inc. (NASDAQ:NTLA) saw an uptick in 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. 1,842,006 shares traded hands during 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.

Other research analysts also recently issued reports about the company. StockNews.com raised Intellia Therapeutics to a “sell” rating in a research note on Friday, November 8th. 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. Wedbush reiterated a “neutral” rating and set a $14.00 price objective on shares of Intellia Therapeutics in a research note on Thursday, November 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $54.00 price target on shares of Intellia Therapeutics in a research note on Thursday, September 19th. Finally, Robert W. Baird reduced their price objective on Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.80.

Insider Transactions at Intellia Therapeutics

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,012 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total transaction of $38,248.12. Following the transaction, the chief accounting officer now directly owns 47,012 shares in the company, valued at $893,698.12. This 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 at the SEC website. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Intellia Therapeutics by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,324,561 shares of the company’s stock valued at $29,648,000 after purchasing an additional 98,865 shares in the last quarter. Thrivent Financial for Lutherans purchased a new stake in Intellia Therapeutics during the 2nd quarter worth about $679,000. American Century Companies Inc. boosted its position in shares of Intellia Therapeutics by 23.8% during the 2nd quarter. American Century Companies Inc. now owns 330,514 shares of the company’s stock worth $7,397,000 after acquiring an additional 63,550 shares in the last quarter. Comerica Bank increased its holdings in shares of Intellia Therapeutics by 853.6% in the 1st quarter. Comerica Bank now owns 37,105 shares of the company’s stock valued at $1,021,000 after acquiring an additional 33,214 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Intellia Therapeutics by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock worth $250,168,000 after acquiring an additional 746,263 shares in the last quarter. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Intellia Therapeutics Price Performance

The firm has a 50 day moving average of $18.64 and a two-hundred day moving average of $22.04. The stock has a market cap of $1.44 billion, a PE ratio of -2.58 and a beta of 1.81.

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