Short Interest in Intellia Therapeutics, Inc. (NASDAQ:NTLA) Rises By 15.5%

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

Intellia Therapeutics Stock Up 3.7 %

Intellia Therapeutics stock traded up $0.48 during mid-day trading on Monday, hitting $13.38. 2,134,951 shares of the company’s stock were exchanged, compared to its average volume of 1,762,059. The company’s 50 day simple moving average is $16.13 and its 200-day simple moving average is $20.60. The firm has a market capitalization of $1.36 billion, a P/E ratio of -2.46 and a beta of 1.76. Intellia Therapeutics has a fifty-two week low of $12.47 and a fifty-two week high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings results on Thursday, November 7th. The company reported ($1.34) EPS for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.03. The business had revenue of $9.10 million for the quarter, compared to analyst estimates of $8.28 million. During the same period in the prior year, the business earned ($1.38) EPS. The company’s revenue for the quarter was down 24.1% compared to the same quarter last year. Research analysts expect that Intellia Therapeutics will post -5.12 EPS for the current year.

Insider Buying and Selling

In related news, CAO Michael P. Dube sold 2,012 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were 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 in the company, valued at $893,698.12. This represents a 4.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. ARK Investment Management LLC increased its position in shares of 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 acquiring an additional 659,651 shares in the last quarter. State Street Corp increased its holdings in Intellia Therapeutics by 17.9% during the 3rd quarter. State Street Corp now owns 5,143,534 shares of the company’s stock worth $105,700,000 after purchasing an additional 780,754 shares in the last quarter. Geode Capital Management LLC increased its holdings in 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. FMR LLC raised its stake in shares of Intellia Therapeutics by 5.0% in the 3rd quarter. FMR LLC now owns 2,339,522 shares of the company’s stock valued at $48,077,000 after purchasing an additional 111,104 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in shares of Intellia Therapeutics by 19.2% in the second 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 in the last quarter. Institutional investors own 88.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NTLA. Royal Bank of Canada reiterated an “outperform” rating and set a $54.00 target price on shares of Intellia Therapeutics in a research report on Thursday, September 19th. Citigroup reduced their price objective on Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Oppenheimer lowered their target price on Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Wells Fargo & Company cut their price target on Intellia Therapeutics from $80.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Finally, StockNews.com upgraded Intellia Therapeutics to a “sell” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $54.94.

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.