Intellia Therapeutics (NASDAQ:NTLA) Sees Large Volume Increase Following Analyst Upgrade

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) 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 changed 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.

Other equities analysts have also issued reports about the stock. Oppenheimer reduced their target price on shares of Intellia Therapeutics from $70.00 to $60.00 and set an "outperform" rating on the stock in a research report on Monday, November 11th. Wedbush reaffirmed a "neutral" rating and set a $14.00 target price on shares of Intellia Therapeutics in a research report on Thursday, November 7th. Stifel Nicolaus reduced their target price on shares of Intellia Therapeutics from $80.00 to $64.00 and set a "buy" rating on the stock in a research report on Wednesday, September 11th. JPMorgan Chase & Co. reduced their target price on shares of Intellia Therapeutics from $61.00 to $55.00 and set an "overweight" rating on the stock in a research report on Monday, August 12th. Finally, Robert W. Baird cut 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 issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $53.88.

Insider Transactions at Intellia Therapeutics

In other news, CAO Michael P. Dube sold 2,012 shares of Intellia Therapeutics stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total transaction of $38,248.12. Following the completion of the sale, the chief accounting officer now directly owns 47,012 shares in the company, valued at approximately $893,698.12. The trade was a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. lifted its position in Intellia Therapeutics by 22.1% during the second quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company's stock valued at $58,000 after purchasing an additional 472 shares during the period. Elmwood Wealth Management Inc. lifted its position in Intellia Therapeutics by 0.9% during the third quarter. Elmwood Wealth Management Inc. now owns 67,774 shares of the company's stock valued at $1,393,000 after purchasing an additional 600 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Intellia Therapeutics by 27.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company's stock valued at $77,000 after purchasing an additional 794 shares during the period. Capstone Investment Advisors LLC lifted its position in Intellia Therapeutics by 1.4% during the third quarter. Capstone Investment Advisors LLC now owns 61,129 shares of the company's stock valued at $1,256,000 after purchasing an additional 831 shares during the period. Finally, Axxcess Wealth Management LLC lifted its position in Intellia Therapeutics by 6.5% during the first quarter. Axxcess Wealth Management LLC now owns 16,602 shares of the company's stock valued at $457,000 after purchasing an additional 1,010 shares during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Intellia Therapeutics Price Performance

The business's fifty day simple moving average is $18.64 and its two-hundred day simple moving average is $22.04. The company has a market cap of $1.44 billion, a PE ratio of -2.58 and a beta of 1.81.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) earnings per share for the quarter, beating analysts' consensus estimates of ($1.37) by $0.03. The firm had revenue of $9.10 million during the quarter, compared to analysts' expectations of $8.28 million. The firm's quarterly revenue was down 24.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.38) EPS. As a group, analysts predict that Intellia Therapeutics, Inc. will post -5.13 EPS for the current 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.