Intellia Therapeutics Inc (NTLA) Expected to Post Quarterly Sales of $9.17 Million
Wall Street analysts expect Intellia Therapeutics Inc (NASDAQ:NTLA) to post sales of $9.17 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Intellia Therapeutics’ earnings, with estimates ranging from $6.77 million to $15.40 million. Intellia Therapeutics reported sales of $5.63 million in the same quarter last year, which suggests a positive year over year growth rate of 62.9%. The business is expected to issue its next quarterly earnings results on Tuesday, March 13th.
According to Zacks, analysts expect that Intellia Therapeutics will report full year sales of $9.17 million for the current financial year, with estimates ranging from $26.21 million to $34.80 million. For the next year, analysts forecast that the business will post sales of $39.43 million per share, with estimates ranging from $23.70 million to $54.00 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Intellia Therapeutics.
Intellia Therapeutics (NASDAQ:NTLA) last issued its earnings results on Tuesday, October 31st. The company reported ($0.44) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.50) by $0.06. Intellia Therapeutics had a negative return on equity of 28.01% and a negative net margin of 215.92%. The firm had revenue of $7.30 million for the quarter, compared to analyst estimates of $5.83 million. During the same period last year, the company earned ($0.22) earnings per share. The firm’s revenue for the quarter was up 49.0% on a year-over-year basis.
In related news, major shareholder Institutes For Biomed Novartis sold 1,523,000 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $18.30, for a total transaction of $27,870,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nessan Bermingham sold 111,500 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $20.34, for a total value of $2,267,910.00. Following the transaction, the chief executive officer now directly owns 696,000 shares of the company’s stock, valued at approximately $14,156,640. The disclosure for this sale can be found here. Insiders have sold 1,971,283 shares of company stock valued at $37,137,161 in the last ninety days. Company insiders own 12.80% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. boosted its position in shares of Intellia Therapeutics by 58.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 42,674 shares of the company’s stock valued at $683,000 after purchasing an additional 15,771 shares during the period. Rhumbline Advisers acquired a new position in shares of Intellia Therapeutics in the 2nd quarter valued at $275,000. State of Wisconsin Investment Board acquired a new position in shares of Intellia Therapeutics in the 2nd quarter valued at $160,000. SG Americas Securities LLC acquired a new position in shares of Intellia Therapeutics in the 2nd quarter valued at $101,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Intellia Therapeutics by 73.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 54,802 shares of the company’s stock valued at $876,000 after purchasing an additional 23,126 shares during the period. 48.95% of the stock is owned by institutional investors and hedge funds.
Intellia Therapeutics (NASDAQ:NTLA) traded up $0.53 during trading hours on Friday, hitting $21.45. The stock had a trading volume of 513,690 shares, compared to its average volume of 826,203. Intellia Therapeutics has a 12 month low of $10.83 and a 12 month high of $33.34. The company has a market capitalization of $754.91, a PE ratio of -13.75 and a beta of 1.73.
Intellia Therapeutics Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Intellia Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intellia Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.