Intellia Therapeutics (NASDAQ:NTLA) Shares Up 6.6% - Here's Why

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) traded up 6.6% during mid-day trading on Wednesday . The stock traded as high as $6.94 and last traded at $7.10. 556,812 shares changed hands during trading, a decline of 75% from the average session volume of 2,219,580 shares. The stock had previously closed at $6.66.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wedbush reissued a "neutral" rating and set a $10.00 target price (down previously from $14.00) on shares of Intellia Therapeutics in a research report on Friday, January 10th. Oppenheimer cut their price objective on shares of Intellia Therapeutics from $60.00 to $40.00 and set an "outperform" rating for the company in a research report on Monday, January 13th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $13.00 target price (down from $45.00) on shares of Intellia Therapeutics in a research report on Friday, February 28th. Chardan Capital reduced their price objective on Intellia Therapeutics from $91.00 to $68.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Finally, StockNews.com upgraded shares of Intellia Therapeutics to a "sell" rating in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $37.56.

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Intellia Therapeutics Stock Down 7.2 %

The stock's fifty day moving average price is $9.61 and its 200-day moving average price is $13.20. The company has a market capitalization of $636.63 million, a price-to-earnings ratio of -1.12 and a beta of 2.23.

Institutional Investors Weigh In On Intellia Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its position in shares of Intellia Therapeutics by 8.5% in the fourth quarter. Wellington Management Group LLP now owns 699,814 shares of the company's stock valued at $8,160,000 after acquiring an additional 55,051 shares during the last quarter. California State Teachers Retirement System raised its position in Intellia Therapeutics by 4.1% during the fourth quarter. California State Teachers Retirement System now owns 90,638 shares of the company's stock worth $1,057,000 after acquiring an additional 3,596 shares in the last quarter. Polar Asset Management Partners Inc. increased its stake in shares of Intellia Therapeutics by 1,144.1% during the 4th quarter. Polar Asset Management Partners Inc. now owns 282,400 shares of the company's stock worth $3,293,000 after purchasing an additional 259,700 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Intellia Therapeutics in the 4th quarter valued at about $25,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Intellia Therapeutics by 5.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 483,185 shares of the company's stock valued at $5,634,000 after buying an additional 23,173 shares during the last quarter. 88.77% of the stock is owned by institutional investors.

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.