Why Intellia Therapeutics, Inc. Outpaced The Stock Market

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The most recent trading session ended with Intellia Therapeutics, Inc. (NTLA - Free Report) standing at $23.60, reflecting a +1.42% shift from the previouse trading day's closing. This change outpaced the S&P 500's 1.26% gain on the day. On the other hand, the Dow registered a gain of 1.18%, and the technology-centric Nasdaq increased by 1.99%.

The the stock of company has fallen by 6.81% in the past month, lagging the Medical sector's loss of 1.54% and the S&P 500's loss of 2.68%.

Investors will be eagerly watching for the performance of Intellia Therapeutics, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 9, 2024. On that day, Intellia Therapeutics, Inc. is projected to report earnings of -$1.35 per share, which would represent a year-over-year decline of 15.38%. In the meantime, our current consensus estimate forecasts the revenue to be $15.6 million, indicating a 23.74% growth compared to the corresponding quarter of the prior year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$5.57 per share and revenue of $50.96 million, indicating changes of -2.77% and +40.49%, respectively, compared to the previous year.

Investors might also notice recent changes to analyst estimates for Intellia Therapeutics, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Intellia Therapeutics, Inc. currently has a Zacks Rank of #3 (Hold).

The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 69, placing it within the top 28% of over 250 industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

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Disclosure: Zacks.com contains statements and statistics that have been obtained from sources believed to be reliable but are not guaranteed as to accuracy or completeness. References to any ...

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