Is Intellia Therapeutics Inc. (NASDAQ: NTLA) Back In The Buying Zone?


    ARK Investment Management LLC recently announced the acquisition of new stake in Intellia Therapeutics Inc. (NASDAQ:NTLA). The institutional investor has increased its shareholding in the Healthcare company by 11.37% to 11.4 million shares with purchase of 1.16 million shares. This fresh investment now brings its stake to 20.06% valued currently at $203.09 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.72 million to 4.12 million shares. And BlackRock Fund Advisors has lifted its position by 16.79% or 0.53 million shares – to 3.71 million shares.

    With over 1.14 million Intellia Therapeutics Inc. (NTLA) shares trading Tuesday and a closing price of $21.22 on the day, the dollar volume was approximately $24.16 million. The shares have shown a positive weekly performance of 1.92% and its price on 09/01/20 lost nearly -1.67%. Currently, there are 53.37M common shares owned by the public and among those 48.95M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 11 analysts who have offered their price forecasts for NTLA have a consensus price objective of $24.75. The analysts have set the share’s price value over the next 12 months at a high of $37.00 and a low of $16.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Intellia Therapeutics Inc. stock is 2.10 for the next 12 months. The average price target is 29.62% above its last price level and an upside to the estimated low will see the stock lose -32.62% over that period. But an upside of 42.65% will see the stock hit the forecast high price target while mean target price for the stock is $22.50.

    Insiders at the company have transacted a total of 14 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 7 of these insider trades were purchases, accounting for 55,000 shares. Insider sales of the common stock occurred on 7 occasions, with total insider shares sold totaling 37,460 shares.

    The top 3 mutual fund holders in Intellia Therapeutics Inc. are ARK Innovation ETF, Nikko AM Global Umbrella Fund – A, and ARK Genomic Revolution ETF. ARK Innovation ETF owns 6.97 million shares of the company’s stock, all valued at over $124.06 million. Nikko AM Global Umbrella Fund – A bought 4.82 million shares to see its total holdings expand to 4.88 million shares valued at over $86.93 million and representing 8.59% of the shares outstanding. ARK Genomic Revolution ETF now owns shares totaling to 4.36% of the shares outstanding.

    Shares of Intellia Therapeutics Inc. (NASDAQ: NTLA) opened at $21.67, up $0.09 from a prior closing price of $21.58. However, the script later closed the day at $21.22, down -1.67%. The company’s stock has a 5-day price change of 1.92% and -4.97% over the past three months. NTLA shares are trading 44.65% year to date (YTD), with the 12-month market performance up to 60.27% higher. It has a 12-month low price of $9.18 and touched a high of $25.56 over the same period. Currently, 1.14 million shares have been traded, compared to an average intraday trading volume of 911.00K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.72%, 1.20%, and 28.09% respectively.

    Institutional ownership of Intellia Therapeutics Inc. (NASDAQ: NTLA) shares accounts for 82.90% of the company’s 53.37M shares outstanding. Mutual fund holders own 32.54%, while other institutional holders and individual stakeholders account for 52.02% and 29.87% respectively.

    It has a market capitalization of $1.20B and a beta (3y monthly) value of 1.64. The earnings-per-share (ttm) stands at -$2.30. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.52% over the week and 5.17% over the month.

    Analysts forecast that Intellia Therapeutics Inc. (NTLA) will achieve an EPS of -$0.59 for the current quarter, -$0.64 for the next quarter and -$3.04 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.88 while analysts give the company a high EPS estimate of -$0.26. Comparatively, EPS for the current quarter was -$0.49 a year ago. Earnings per share for the fiscal year are expected to decrease by -6.30%, and -23.60% over the next financial year. EPS should grow at an annualized rate of 30.00% over the next five years, compared to -50.60% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 11 brokerage firm advisors rate Intellia Therapeutics Inc. (NTLA) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 4 of the 11 advise that investors “hold,” and 0 rated it as a “Sell.”

    Looking at the support for the NTLA, a number of firms have released research notes about the stock. Oppenheimer stated their Outperform rating for the stock in a research note on February 28, 2020, with the firm’s price target at. Wedbush coverage for the Intellia Therapeutics Inc. (NTLA) stock in a research note released on February 14, 2020 offered a Neutral rating with a price target of $16. Raymond James was of a view on November 01, 2019 that the stock is Outperform, while Robert W. Baird gave the stock Outperform rating on July 09, 2019, issuing a price target of $23. ROTH Capital on their part issued Neutral rating on June 10, 2019.


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