Michael P. Dube, VP and Chief Accounting Officer of Intellia Therapeutics, Inc. (NASDAQ:NTLA), recently sold 1,372 shares of the company's common stock. The transaction occurred on January 3, 2025, at a price of $12.18 per share, resulting in a total value of $16,710. The stock, which InvestingPro analysis indicates is currently trading near Fair Value, has shown significant volatility with a beta of 1.83.
According to the filing, this sale was a mandatory "sell-to-cover" transaction. It was conducted to satisfy tax withholding obligations tied to the vesting of restricted stock units (RSUs) on January 1, 2025. Consequently, this transaction does not represent a discretionary trade by Dube. Following the sale, Dube retains ownership of 45,640 shares of Intellia Therapeutics. The company maintains strong liquidity with a current ratio of 6.73, and 13 analysts have revised their earnings expectations upward. InvestingPro subscribers can access detailed financial health metrics and 8 additional ProTips for deeper insight into NTLA's performance.
In other recent news, Intellia Therapeutics has made significant strides in its clinical programs and financial status. The company reported its third-quarter financials for 2024, which included $123.4 million in research and development expenses and a decrease in cash reserves to $944.7 million, primarily due to operational expenses. Despite this, the company's cash reserves are anticipated to fund operations until late 2026.
Intellia has also reported positive results from a Phase 2 study of NTLA-2002 in Hereditary Angioedema (HAE), indicating potential for a functional cure with a single infusion. The FDA has cleared the IND application for NEX-Z, a treatment for hereditary ATTR Amyloidosis with Polyneuropathy, with a Phase III study planned.
Oppenheimer has adjusted its price target on shares of Intellia, bringing it down to $60 from the previous $70, while still maintaining an Outperform rating on the stock. This adjustment reflects an updated model from Oppenheimer, which supports a continued positive outlook for Intellia despite the reduction.
In addition to these developments, Intellia is progressing on several key fronts. The enrollment for the Phase 3 MAGNITUDE study of NTLA-2001, aimed at treating ATTR amyloidosis with cardiomyopathy, is advancing faster than anticipated. The company also plans to share new data from the ongoing Phase 1 study of NTLA-2001 at the American Heart Association (AHA) meeting. Lastly, the first patient in the Phase 1/2 study of NTLA-3001 for Alpha-1 Antitrypsin Deficiency (AATD) is expected to receive dosing by year-end.
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