Intellia Therapeutics (NASDAQ:NTLA) Stock Price Up 9.3%

Intellia Therapeutics, Inc. (NASDAQ:NTLA) shares rose 9.3% during trading on Thursday . The company traded as high as $25.41 and last traded at $25.30. Approximately 1,358,904 shares traded hands during mid-day trading, a decline of 13% from the average daily volume of 1,561,787 shares. The stock had previously closed at $23.15.

Analyst Ratings Changes

NTLA has been the topic of a number of research reports. Truist Financial reissued a “buy” rating and issued a $120.00 price objective on shares of Intellia Therapeutics in a research note on Monday, June 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price target on shares of Intellia Therapeutics in a report on Monday, June 24th. Citigroup lowered their price target on Intellia Therapeutics from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. StockNews.com upgraded Intellia Therapeutics to a “sell” rating in a research note on Thursday, June 27th. Finally, BMO Capital Markets boosted their target price on Intellia Therapeutics from $62.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

Intellia Therapeutics Trading Up 6.4 %

The firm has a market cap of $2.38 billion, a price-to-earnings ratio of -4.71 and a beta of 1.82. The firm has a 50-day moving average of $23.97 and a two-hundred day moving average of $25.85.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($1.06) EPS for the quarter, beating the consensus estimate of ($1.35) by $0.29. The firm had revenue of $28.94 million during the quarter, compared to analyst estimates of $15.60 million. As a group, equities analysts anticipate that Intellia Therapeutics, Inc. will post -4.98 EPS for the current year.

Hedge Funds Weigh In On Intellia Therapeutics

Several large investors have recently added to or reduced their stakes in the company. ARK Investment Management LLC grew its stake in shares of Intellia Therapeutics by 14.7% in the 4th quarter. ARK Investment Management LLC now owns 11,412,449 shares of the company’s stock valued at $347,966,000 after purchasing an additional 1,463,820 shares during the period. Vanguard Group Inc. grew its position in 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 during the last quarter. Wellington Management Group LLP grew its position in Intellia Therapeutics by 1.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,651,994 shares of the company’s stock worth $83,856,000 after acquiring an additional 36,630 shares during the last quarter. Federated Hermes Inc. grew its position in Intellia Therapeutics by 13.8% during the 4th quarter. Federated Hermes Inc. now owns 2,016,300 shares of the company’s stock worth $61,477,000 after acquiring an additional 244,722 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Intellia Therapeutics by 5.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,170,829 shares of the company’s stock worth $35,704,000 after acquiring an additional 60,748 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.