Many investors were skeptical of biotechs specializing in gene editing three years ago. Though some had made clinical progress, few had launched any product. Since then, there have been more clinical wins and several more launches in this field.Unfortunately, Intellia Therapeutics (NTLA -0.17%) hasn't been one of the top performers in this niche. The biotech's shares are down by 30% over the past year. Is it worth buying Intellia Therapeutics' shares right now? Let's find out.Intellia Therapeutics' promisin ...

The day after Intellia Therapeutics (NTLA -0.84%) updated investors with its results for the fourth quarter on Feb. 23, Cannacord Genuity analyst Whitney Ijem issued a new price target for the stock, estimating that it'd climb by 119% to $73. But, per management's anticipated milestones for 2024, the pre-revenue biotech's most exciting catalysts will be when it reports preliminary data from a pair of its clinical trials later this year. Though it won't have an opportunity to seek regulatory approval for any ...

Intellia Therapeutics, Inc. (NTLA) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, NTLA broke through the 50-day moving average, which suggests a short-term bullish trend.One of the three major moving averages, the 50-day simple moving average is commonly used by traders and analysts to determine support or resistance levels for different types of securities. However, the 50-day is considered to be more important since it's the first marker ...

Intellia Therapeutics, Inc. (NTLA) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, NTLA crossed above the 20-day moving average, suggesting a short-term bullish trend.The 20-day simple moving average is a well-liked trading tool because it provides a look back at a stock's price over a 20-day period. Additionally, short-term traders find this SMA very beneficial, as it smooths out short-term price trends and shows more trend reversal ...

Intellia Therapeutics, Inc. (NTLA) reported fourth-quarter 2023 loss of $1.46 per share, narrower than the Zacks Consensus Estimate of a loss of $1.47. In the year-ago quarter, Intellia incurred a loss of $1.40 per share.The company’s total revenues currently comprise only collaboration revenues. NTLA reported negative revenues of $1.9 million during the fourth quarter of 2023 compared with $13.6 million reported in the year-ago quarter. The top line missed the Zacks Consensus Estimate of $15 million.The de ...

Shares of Intellia Therapeutics, Inc. (NTLA) have gained 8.3% over the past four weeks to close the last trading session at $27.18, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $77.61 indicates a potential upside of 185.5%.The average comprises 23 short-term price targets ranging from a low of $29 to a high of $145, with a standard deviation of $29.58. While the lowest estima ...

Intellia Therapeutics, Inc. (NASDAQ:NTLA) Q4 2023 Earnings Conference Call February 22, 2024 8:00 AM ET Company Participants Ian Karp - SVP, IR and Corporate Communications John Leonard - President and CEO David Lebwohl - EVP and CMO Laura Sepp-Lorenzino - EVP and CSO Glenn Goddard - EVP and Chief Financial Officer Eliana Clark - EVP and CTO Conference Call Participants Maury Raycroft - Jefferies Unidentified Analyst - RBC Greg Harrison - Bank of America Unidentified Analyst - Barclays Troy Langford - TD Co ...

Financial Performance - Collaboration revenue decreased by $15.8 million to $36.3 million in 2023 compared to $52.1 million in 2022, primarily due to a $10.3 million adjustment from a contract modification[460] - Net loss for 2023 was $481.2 million, slightly higher than the $474.2 million loss in 2022, with a $50.1 million increase in other income (expense), net, driven by higher interest income[459][466] - Net cash used in operating activities was $394.1 million in 2023, primarily due to a net loss of $481.2 million, partially offset by non-cash charges including stock-based compensation of $134.1 million[482] - Net cash provided by financing activities was $130.3 million in 2023, primarily from $119.8 million in net proceeds from at-the-market offerings[486] - The company's investing activities used $31.3 million in 2023, primarily due to $904.5 million in marketable securities purchases, offset by $887.1 million in maturing marketable securities[484] Research and Development - Research and development expenses increased by $15.1 million to $435.1 million in 2023, driven by higher external costs for programs like NTLA-2001 ($16.6 million increase) and NTLA-2002 ($12.9 million increase)[461][463] - Research and development expenses for NTLA-2001 increased by 44% to $54.5 million in 2023, while NTLA-2002 expenses surged by 112% to $24.6 million[463] - The company expects research and development expenses to increase in 2024 as it advances global pivotal trials for NTLA-2001 and NTLA-2002, and progresses the NTLA-3001 program[464] General and Administrative Expenses - General and administrative expenses rose by $26.2 million to $116.5 million in 2023, mainly due to increased employee-related expenses, including $16.7 million in stock-based compensation[465] - Stock-based compensation increased by $25.9 million in 2023, driven by higher employee headcount[463] Cash and Investments - The company had $1,012.1 million in cash, cash equivalents, and marketable securities as of December 31, 2023[468] - Cash equivalents, restricted cash equivalents, and marketable securities totaled $921.6 million as of December 31, 2023[507] - Primary market risk exposure is interest rate sensitivity due to investments in marketable securities[507] - A 100 basis points change in interest rates would not materially affect the fair market value of the investment portfolio[507] - Declines in interest rates would reduce future investment income[507] Strategic Initiatives and Workforce - The company announced a workforce reduction of approximately 15% in January 2024 as part of a strategic review to streamline operations[478] - The company raised $121.9 million in 2023 through the issuance of 4,122,824 shares of common stock under the 2022 Sale Agreement[472] Collaboration and Milestone Payments - The company is eligible to earn milestone payments and royalties under collaborations with SparingVision, ONK, Regeneron, and Kyverna, contingent on research and development outcomes[476] - The company does not include potential future milestone or royalty payments in its contractual obligations due to uncertainty, with a research milestone related to Rewrite achieved and settled in January 2023[492] Revenue Recognition and Accounting - Revenue recognition is based on ASC 606, with significant judgments required for determining transaction prices, standalone selling prices, and revenue recognition patterns[497][499] - Stock-based compensation expense is measured using the Black-Scholes option pricing model, with significant judgments related to volatility and expected life assumptions[502][503] Market and Economic Risks - No foreign currency or derivative financial instruments held by the company[508] - Inflation increased labor and clinical trial costs but did not materially affect 2023 results[508] Future Outlook - The company expects its cash, cash equivalents, and marketable securities as of December 31, 2023, along with research and cost reimbursement funding from collaboration agreements, to fund ongoing operating expenses and capital expenditure requirements into mid-2026[478] - The company's ability to generate revenue and achieve profitability depends on successful development of its CRISPR/Cas9 technology platform, regulatory approvals, and market acceptance of product candidates[479] Contractual Commitments - Contractual commitments for property leases as of December 31, 2023, totaled $146.5 million, with an additional $146.0 million committed for a new lease starting in the second half of 2024[489][490]

Biotech stocks, namely those involved with gene editing, have been explosive. Just look at CRISPR Therapeutics (NASADQ:CRSP), for example. Since late October, CRSP rocketed from about $40 a share to about $90.18. All thanks to positive US FDA and European Commission rulings on CRISPR’s treatments for sickle cell, and transfusion-dependent beta-thalassemia. Even shares of Beam Therapeutics (NASDAQ:BEAM) soared from about $17 to $32.90. Not only is the company working on a sickle cell treatment of its own, it ...

Wall Street analysts are quite bullish about Intellia Therapeutics (NTLA -2.56%) stock. On average, they're estimating that it'll rise by around 157% within the next 12 months. In the context of the new bull market shaping up right now, it likely has a good shot of actually delivering what analysts are hoping to see. Does that mean this stock's ascent is inevitable in the near term? Or is Wall Street getting ahead of itself?Catalysts are indeed in storeLet's start by examining the case in favor of Intellia ...