Intellia Therapeutics, Inc. (NASDAQ:NTLA) Short Interest Update

Intellia Therapeutics, Inc. (NASDAQ:NTLA) was the recipient of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 18,910,000 shares, an increase of 15.5% from the November 15th total of 16,370,000 shares. Based on an average daily trading volume, of 2,410,000 shares, the days-to-cover ratio is presently 7.8 days.

Intellia Therapeutics Stock Performance

Shares of NTLA traded down $0.66 during midday trading on Friday, hitting $12.90. 3,187,759 shares of the company traded hands, compared to its average volume of 1,760,464. Intellia Therapeutics has a 52 week low of $12.47 and a 52 week high of $34.87. The firm has a 50 day moving average of $16.13 and a 200-day moving average of $20.60. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -2.37 and a beta of 1.76.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share for the quarter, beating 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 quarterly revenue was down 24.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.38) EPS. Sell-side analysts predict that Intellia Therapeutics will post -5.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NTLA. Royal Bank of Canada restated an “outperform” rating and set a $54.00 price objective on shares of Intellia Therapeutics in a research report on Thursday, September 19th. Barclays reduced their price objective on Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. William Blair reissued a “neutral” rating and issued a $14.00 target price on shares of Intellia Therapeutics in a research report on Monday, November 18th. Wells Fargo & Company reduced their price target on shares of Intellia Therapeutics from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Finally, Robert W. Baird dropped their price objective on shares of Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.94.

Insider Transactions at Intellia Therapeutics

In related news, CAO Michael P. Dube sold 2,012 shares of Intellia Therapeutics stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 47,012 shares in the company, valued at $893,698.12. The trade was a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. ARK Investment Management LLC boosted its holdings in shares of Intellia Therapeutics by 5.7% in the 3rd quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock worth $251,849,000 after purchasing an additional 659,651 shares during the period. State Street Corp raised its stake in shares of Intellia Therapeutics by 17.9% in the third quarter. State Street Corp now owns 5,143,534 shares of the company’s stock valued at $105,700,000 after acquiring an additional 780,754 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Intellia Therapeutics by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,343,310 shares of the company’s stock worth $48,164,000 after acquiring an additional 49,367 shares during the last quarter. FMR LLC boosted its stake in shares of Intellia Therapeutics by 5.0% during the 3rd quarter. FMR LLC now owns 2,339,522 shares of the company’s stock worth $48,077,000 after purchasing an additional 111,104 shares during the period. Finally, Federated Hermes Inc. grew its holdings in Intellia Therapeutics by 19.2% during the 2nd quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock valued at $51,494,000 after purchasing an additional 371,189 shares during the last quarter. 88.77% of the stock is owned by hedge funds and other 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.