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

Intellia Therapeutics, Inc. (NASDAQ:NTLA) saw a large increase in short interest in 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 volume of 2,410,000 shares, the days-to-cover ratio is currently 7.8 days.

Insider Buying and Selling at Intellia Therapeutics

In related news, CAO Michael P. Dube sold 2,012 shares of the firm’s stock in a transaction that occurred 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. This trade represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of NTLA. Franklin Resources Inc. grew its position in Intellia Therapeutics by 10.3% in the third quarter. Franklin Resources Inc. now owns 16,405 shares of the company’s stock valued at $320,000 after acquiring an additional 1,538 shares during the period. Sanctuary Advisors LLC grew its holdings in shares of Intellia Therapeutics by 147.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 53,590 shares of the company’s stock worth $1,101,000 after purchasing an additional 31,976 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Intellia Therapeutics in the 3rd quarter worth about $417,000. Geode Capital Management LLC increased its position in shares of Intellia Therapeutics by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,343,310 shares of the company’s stock worth $48,164,000 after purchasing an additional 49,367 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Intellia Therapeutics by 17.7% during the 3rd quarter. Barclays PLC now owns 292,795 shares of the company’s stock valued at $6,017,000 after purchasing an additional 44,022 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on NTLA. Citigroup decreased their target price on shares of Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Stifel Nicolaus reduced their price objective on Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Oppenheimer lowered 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $54.00 price target on shares of Intellia Therapeutics in a research note on Thursday, September 19th. Finally, The Goldman Sachs Group reduced their price target on Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Intellia Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $54.94.

Intellia Therapeutics Stock Performance

Shares of NTLA stock traded up $0.48 during mid-day trading on Monday, reaching $13.38. The company’s stock had a trading volume of 2,134,951 shares, compared to its average volume of 1,762,059. The firm’s 50-day moving average is $16.13 and its two-hundred day moving average is $20.60. The company has a market cap of $1.36 billion, a P/E ratio of -2.46 and a beta of 1.76. Intellia Therapeutics has a 1-year low of $12.47 and a 1-year high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.37) by $0.03. The business had revenue of $9.10 million during the quarter, compared to analyst estimates of $8.28 million. The business’s revenue for the quarter was down 24.1% on a year-over-year basis. During the same period last year, the company earned ($1.38) EPS. Sell-side analysts anticipate that Intellia Therapeutics will post -5.12 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.