Intellia Therapeutics, Inc. (NASDAQ:NTLA) Short Interest Up 15.5% in November

Intellia Therapeutics, Inc. (NASDAQ:NTLA) saw a large increase in short interest in 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 days-to-cover ratio is currently 7.8 days.

Insider Buying and Selling at Intellia Therapeutics

In other news, CAO Michael P. Dube sold 2,012 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 47,012 shares in the company, valued at $893,698.12. The trade was a 4.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Intellia Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of NTLA. State Street Corp lifted its holdings in shares of 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 acquiring an additional 780,754 shares during the period. ARK Investment Management LLC raised its stake in 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. Federated Hermes Inc. raised its stake in Intellia Therapeutics by 19.2% during the second quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock worth $51,494,000 after acquiring an additional 371,189 shares in the last quarter. Two Sigma Advisers LP boosted its stake in shares of Intellia Therapeutics by 33.5% in the 3rd quarter. Two Sigma Advisers LP now owns 1,027,617 shares of the company’s stock valued at $21,118,000 after purchasing an additional 257,700 shares in the last quarter. Finally, Sphera Funds Management LTD. raised its stake in shares of Intellia Therapeutics by 108.8% in the third quarter. Sphera Funds Management LTD. now owns 291,080 shares of the company’s stock valued at $5,982,000 after acquiring an additional 151,661 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

Intellia Therapeutics Stock Performance

NASDAQ:NTLA opened at $13.38 on Tuesday. The firm’s 50-day moving average is $16.13 and its 200-day moving average is $20.60. Intellia Therapeutics has a 52-week low of $12.47 and a 52-week high of $34.87.

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

Wall Street Analysts Forecast Growth

NTLA has been the topic of several research reports. William Blair reaffirmed a “neutral” rating and issued a $14.00 target price on shares of Intellia Therapeutics in a research report on Monday, November 18th. Wedbush reiterated a “neutral” rating and issued a $14.00 target price on shares of Intellia Therapeutics in a research note on Monday, November 18th. The Goldman Sachs Group dropped their price target on shares of Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $54.00 price objective on shares of Intellia Therapeutics in a research note on Thursday, September 19th. Finally, Oppenheimer lowered their target price on shares of Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Intellia Therapeutics has an average rating of “Moderate Buy” and an average price target 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.