The stock of Intellia Therapeutics, Inc. (NASDAQ:NTLA) is now priced at $21.58 and the shares are 0.24 points up or 1.12% higher compared to its previous closing price of $21.34. The stock had 1.308 million contracts set over the past session. NTLA shares’ daily volume is compared to its average trading volume at 0.905 million shares. However, it has a float of 48.95 million and although its performance was 6.83% over the week, it’s one to watch. Analysts have given the NTLA stock a yearly average price target of $30.15 per share. It means the stock’s upside potential is 39.71% with the NTLA share price recently placing at $21.24 to $22.76. However, some brokerage firms have priced the stock below the average, including one that has called $16.
The shorts are climbing into the Intellia Therapeutics, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the NTLA shares have risen. Short interest in the stock represents just 22.39% of its float, but the volume has raised by 189649. The volume of shorted shares rised to 10.961 million from 10.772 million shares over the last two weeks. The average intraday trading volume has been 686720 shares, which means that days to cover moved to roughly 15.961604.
In the last trading session, Intellia Therapeutics, Inc. (NASDAQ:NTLA) raised by $1.38 over the week and gained $2.33 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $25.56. The stock recorded its established 52-week high on 07/09/20.
Since 03/16/20, the stock has traded to a low of $9.18 at 135.08%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.64. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Intellia Therapeutics, Inc.’s two-week RSI is 56.86. This suggests that the stock is neutral at the moment and that NTLA shares’ price movement remains stable. The stochastic readings are equally revealing at 59.39% meaning the NTLA share price is currently in neutral territory.
The technical chart shows that the NTLA stock will likely settle at between $22.48 and $23.38 per share. However, if the stock dips below $20.96, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $20.34.
Currently, the stock is trading in the green of MACD, with a reading of 0.32. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Oppenheimer raised their recommendation for NTLA from Perform to Outperform in February 28 review. Wedbush analysts downgraded their recommendation of the stock from Outperform to Neutral while keeping its target price at $16 in a flash note released to investors on February 14. Raymond James seeing the improvements upgraded the stock from Mkt Perform to Outperform on November 01.
The average rating for the NTLA equity is 2.09 and is currently gathering a bullish momentum. Of 11 analysts tracking Intellia Therapeutics, Inc. polled by Reuters, 4 rated NTLA as a hold. The remaining 7 analysts were split evenly. However, the split wasn’t equal as a majority (7) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Intellia Therapeutics, Inc. (NASDAQ:NTLA) will decrease by about -99.91%, which will see them reach $15.38 million. The company’s full-year revenues are, however, expected to increase by about 36.98%, up from $43.1 million to $59.04 million. NTLA’s expected adjusted earnings should surge almost 20.41% to end up at -$0.59 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 16.59% to record -$2.46/share.