Intellia Therapeutics, Inc. (NASDAQ:NTLA) released its earnings results on Tuesday. The company reported ($0.44) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.50) by $0.06, Bloomberg Earnings reports. The firm had revenue of $7.30 million for the quarter, compared to analysts’ expectations of $5.83 million. Intellia Therapeutics had a negative net margin of 204.48% and a negative return on equity of 22.70%. The company’s quarterly revenue was up 49.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.22) earnings per share.
Shares of Intellia Therapeutics (NASDAQ:NTLA) traded up 3.8758% during mid-day trading on Tuesday, hitting $29.6877. 202,542 shares of the company were exchanged. The company’s market capitalization is $1.07 billion. Intellia Therapeutics has a 52 week low of $10.83 and a 52 week high of $31.90. The company has a 50 day moving average of $26.31 and a 200 day moving average of $26.31.
A number of analysts recently commented on the stock. Chardan Capital cut shares of Intellia Therapeutics from a “buy” rating to a “neutral” rating and set a $20.00 price target on the stock. in a research note on Tuesday, August 29th. ValuEngine upgraded shares of Intellia Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, September 22nd. Jefferies Group LLC restated a “buy” rating and set a $36.00 price target on shares of Intellia Therapeutics in a research note on Saturday, July 22nd. Wedbush restated an “ourperform” rating and set a $25.00 price target (down from $29.00) on shares of Intellia Therapeutics in a research note on Wednesday, September 27th. Finally, Cann restated a “hold” rating on shares of Intellia Therapeutics in a research note on Tuesday, August 1st. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $26.80.
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A hedge fund recently raised its stake in Intellia Therapeutics stock. State Street Corp raised its position in shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) by 52.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 164,798 shares of the company’s stock after purchasing an additional 56,363 shares during the quarter. State Street Corp owned 0.46% of Intellia Therapeutics worth $2,638,000 as of its most recent SEC filing. 47.77% of the stock is currently owned by hedge funds and other institutional investors.
About Intellia Therapeutics
Intellia Therapeutics, Inc is a genome editing company. The Company is focused on developing therapeutics utilizing a biological tool known as CRISPR/Cas9. The CRISPR/Cas9 genome editing system includes two components: the Cas9 protein and the guide RNA sequence. The Cas9 protein acts like a pair of molecular scissors that initiates the natural cellular repair process to knockout, repair or insert a gene.
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