Shares of Intellia Therapeutics Inc (NASDAQ:NTLA) were up 6.4% during mid-day trading on Thursday . The company traded as high as $26.06 and last traded at $24.02. Approximately 326,619 shares were traded during trading, a decline of 67% from the average daily volume of 975,602 shares. The stock had previously closed at $25.65.
A number of analysts have recently issued reports on NTLA shares. Jefferies Group set a $42.00 target price on shares of Intellia Therapeutics and gave the company a “buy” rating in a research note on Tuesday, October 31st. Leerink Swann boosted their target price on shares of Intellia Therapeutics from $29.00 to $37.00 and gave the company an “outperform” rating in a research note on Tuesday, October 31st. They noted that the move was a valuation call. Barclays reissued a “buy” rating on shares of Intellia Therapeutics in a research note on Sunday, November 5th. Oppenheimer reissued a “hold” rating on shares of Intellia Therapeutics in a research note on Tuesday, December 12th. Finally, ValuEngine lowered shares of Intellia Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, November 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $30.17.
In related news, CEO Nessan Bermingham sold 111,500 shares of Intellia Therapeutics stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $20.34, for a total value of $2,267,910.00. Following the completion of the sale, the chief executive officer now directly owns 696,000 shares in the company, valued at $14,156,640. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Institutes For Biomed Novartis sold 1,523,000 shares of Intellia Therapeutics stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $18.30, for a total value of $27,870,900.00. The disclosure for this sale can be found here. Insiders sold 2,521,928 shares of company stock valued at $51,883,434 over the last 90 days. 12.80% of the stock is currently owned by corporate insiders.
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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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