Intellia Therapeutics (NASDAQ:NTLA) Stock Price Up 7.5% - Time to Buy?

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) shares shot up 7.5% during mid-day trading on Friday . The stock traded as high as $14.79 and last traded at $14.68. 1,044,735 shares were traded during trading, a decline of 40% from the average session volume of 1,747,878 shares. The stock had previously closed at $13.65.

Analyst Ratings Changes

Several research firms recently issued reports on NTLA. Chardan Capital increased their target price on Intellia Therapeutics from $88.00 to $91.00 and gave the stock a "buy" rating in a research note on Monday, November 18th. Oppenheimer decreased their target price on Intellia Therapeutics from $70.00 to $60.00 and set an "outperform" rating on the stock in a research note on Monday, November 11th. The Goldman Sachs Group decreased their target price on Intellia Therapeutics from $31.00 to $20.00 and set a "neutral" rating on the stock in a research note on Friday, October 25th. William Blair reissued a "neutral" rating and set a $14.00 target price on shares of Intellia Therapeutics in a research note on Monday, November 18th. Finally, StockNews.com raised Intellia Therapeutics to a "sell" rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $54.94.

Intellia Therapeutics Trading Up 7.8 %

The firm has a market cap of $1.50 billion, a PE ratio of -2.71 and a beta of 1.76. The business has a fifty day moving average price of $16.61 and a 200 day moving average price of $20.98.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) EPS for the quarter, beating analysts' consensus estimates of ($1.37) by $0.03. The business had revenue of $9.10 million during the quarter, compared to analysts' expectations of $8.28 million. During the same quarter in the previous year, the company posted ($1.38) EPS. The company's revenue was down 24.1% compared to the same quarter last year. On average, research analysts expect that Intellia Therapeutics, Inc. will post -5.12 earnings per share for the current fiscal year.

Insider Activity

In other Intellia Therapeutics 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 transaction, the chief accounting officer now owns 47,012 shares of the company's stock, valued at $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 available at this hyperlink. Company insiders own 3.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. ARK Investment Management LLC increased its position in Intellia Therapeutics by 5.7% during the third quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company's stock worth $251,849,000 after buying an additional 659,651 shares during the period. State Street Corp increased its position in Intellia Therapeutics by 17.9% during the third quarter. State Street Corp now owns 5,143,534 shares of the company's stock worth $105,700,000 after buying an additional 780,754 shares during the period. Geode Capital Management LLC increased its position in Intellia Therapeutics by 2.2% during the third quarter. Geode Capital Management LLC now owns 2,343,310 shares of the company's stock worth $48,164,000 after buying an additional 49,367 shares during the period. FMR LLC increased its position in Intellia Therapeutics by 5.0% during the third quarter. FMR LLC now owns 2,339,522 shares of the company's stock worth $48,077,000 after buying an additional 111,104 shares during the period. Finally, Federated Hermes Inc. grew its stake in shares of Intellia Therapeutics by 19.2% in 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. Institutional investors and hedge funds own 88.77% of the company's stock.

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.