# Intellia Therapeutics, Inc. (NTLA)

> Source: Nexqual · https://nexqual.com/NTLA · data as of 2026-10-23 13:32 UTC · cite as "Nexqual, Intellia Therapeutics, Inc. (NTLA), nexqual.com/NTLA" · informational, not investment advice.

**Price:** USD 10.86 (-2.69% today) · US market open, as of October 23, 2026 at 13:32 UTC; quotes may be delayed. Prev close 11.16 · day 10.84–11 · 52w 7.95–26.35 · market cap $1.52B · NGM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $59.5M, net income -$400M (-672.2% margin), free cash flow -$349M (SEC filings).
- Insider open-market sales, last ~7 months: 5 Form 4 filings, $530K; 3 not under a Rule 10b5-1 plan ($159K); 0 by opportunistic insiders, 1 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 2.75 on a 1–5 scale) (20 analysts), mean target USD 23.11 (range 8–61).
- Total return with dividends: 1Y -58.0% vs S&P 500 +14.9%; 5Y -91.8% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD -0.79, revenue estimate $9.8M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $33.1M | $52.1M | $36.3M | $57.9M | $67.7M | $59.5M |
| Gross profit | $33.1M | — | — | — | — | — |
| Operating income | -$268M | -$458M | -$515M | -$534M | -$441M | -$423M |
| Net income | -$268M | -$474M | -$481M | -$519M | -$413M | -$400M |
| EPS (diluted) | -$3.78 | -$6.16 | -$5.42 | -$5.25 | -$3.81 | — |
| Free cash flow | -$238M | -$347M | -$408M | -$355M | -$396M | -$349M |
| Gross margin | 100.0% | — | — | — | — | — |
| Operating margin | -810.4% | -879.0% | -1420.5% | -923.1% | -651.7% | -711.7% |
| Net margin | -810.5% | -909.8% | -1326.5% | -896.8% | -609.9% | -672.2% |
| Revenue growth | -43.0% | +57.7% | -30.4% | +59.6% | +16.9% | — |
| Cash + short-term investments | $749M | $1.19B | $912M | $602M | $450M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 25.6x · P/B 2.1x · FCF yield -22.91% · Earnings yield -26.28%

## Insider sales (SEC Form 4, open-market, last ~7 months)
2 of 5 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-02 | Dube Michael P | VP, Chief Accounting Officer | 1,864 | $23K | 2.8% | No | Too little history (no open-market trades in 2023) |
| 2026-08-20…2026-08-21 | Leonard John M | President and CEO | 22,675 | $287K | 1.8% | Yes (adopted May 21, 2026) | Routine (sold in Jan each year 2023–2025; this trade is outside those months) |
| 2026-07-22 | Dulac Edward J Iii | EVP, Chief Financial Officer | 8,111 | $91K | 5.2% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-07-02 | Dulac Edward J Iii | EVP, Chief Financial Officer | 4,677 | $84K | 2.9% | Yes (adopted September 8, 2025) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-07-01 | Dube Michael P | VP, Chief Accounting Officer | 2,641 | $44K | 3.8% | No | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 2.75 on a 1–5 scale), 20 analysts; mean target USD 23.11 (low 8, high 61).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-06 | Barclays | Initiated | Underweight | $8 |
| 2026-09-09 | Citizens | Reiterated | Market Outperform | $30 |
| 2026-09-09 | Wedbush | Target raised | Neutral | $12 → $13 |
| 2026-09-09 | HC Wainwright & Co. | Reiterated | Buy | $25 |
| 2026-08-25 | Citizens | Reiterated | Market Outperform | $30 |
| 2026-08-07 | Evercore ISI Group | Upgrade | In-Line → Outperform | $16 → $24 |
| 2026-07-16 | Wolfe Research | Downgrade | Peer Perform → Underperform | $9 |
| 2026-07-10 | Wedbush | Target raised | Neutral | $12 → $17 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -58.0% | -91.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -58.1% | -39.4% |
| Volatility (annualized) | 96.5% | 79.3% |
| Max drawdown | -69.0% (Oct 2025→Nov 2025) | -95.1% (Nov 2021→Mar 2025) |

## Peers (Biotechnology)
LGND (Ligand Pharmaceuticals Incorpor) USD 307.51 -0.10% · RYTM (Rhythm Pharmaceuticals, Inc.) USD 89.88 -1.12% · IOVA (Iovance Biotherapeutics, Inc.) USD 14 -1.03% · PRAX (Praxis Precision Medicines, Inc) USD 255.42 -1.35% · IONS (Ionis Pharmaceuticals, Inc.) USD 43.68 -0.52% · ABVX (Abivax SA) USD 88.97 -1.40%

## More
Full page: https://nexqual.com/NTLA · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in NTLA's own 10-K filed 2026-02-26 (https://www.sec.gov/Archives/edgar/data/1652130/000119312526076550/ntla-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | REGENERON PHARMACEUTICALS, INC. (REGN) | "Our technological advancements and any potential for revenue may be derived in part from our collaborations, including, for example, with Regeneron Pharmaceuticals, Inc. ("Regeneron"), and if the collaboration or co-deve…" |
| Partner | Caribou Biosciences, Inc. (CRBU) | "We co-own some of these patent portfolios with our collaboration partners, such as Regeneron, and we have in-licensed some of these patent portfolios from licensors, including Caribou Biosciences, Inc. ("Caribou") and ot…" |
| Partner | AvenCell Therapeutics | "AvenCell Therapeutics, Inc. ("AvenCell") was formed in July 2021 as a joint venture between us, Cellex Cell Professionals GmbH ("Cellex") and funds managed by Blackstone Life Sciences Advisors L.L.C. ("BXLS")." |
| Partner | Kyverna Therapeutics, Inc. (KYTX) | "In December 2021, we entered into a licensing and collaboration agreement with Kyverna Therapeutics, Inc. ("Kyverna"), a cell therapy company engineering a new class of therapies for autoimmune and inflammatory diseases,…" |
| Partner | Cellex Cell Professionals | "AvenCell Therapeutics, Inc. ("AvenCell") was formed in July 2021 as a joint venture between us, Cellex Cell Professionals GmbH ("Cellex") and funds managed by Blackstone Life Sciences Advisors L.L.C. ("BXLS")." |
| Partner | Blackstone Life Sciences Advisors | "AvenCell Therapeutics, Inc. ("AvenCell") was formed in July 2021 as a joint venture between us, Cellex Cell Professionals GmbH ("Cellex") and funds managed by Blackstone Life Sciences Advisors L.L.C. ("BXLS")." |
| Partner | CRISPR Therapeutics AG (CRSP) | "For example, with respect to our sublicensed rights from Caribou to UC/Vienna/Charpentier intellectual property, UC retained the right to control the prosecution, enforcement and defense of this intellectual property in …" |
| Partner | ERS Genomics | "For example, with respect to our sublicensed rights from Caribou to UC/Vienna/Charpentier intellectual property, UC retained the right to control the prosecution, enforcement and defense of this intellectual property in …" |

Other companies that name NTLA in their own reports (relationship from NTLA's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | Kyverna Therapeutics, Inc. (KYTX) | 10-K 2026-03-26 | "To that end, we established a partnership with Intellia to create allogeneic T-cell therapies." |
| partner | Caribou Biosciences, Inc. (CRBU) | 10-K 2026-03-05 | "On July 16, 2014, we entered into a License Agreement (as amended, "Intellia Agreement") with Intellia, LLC (now Intellia Therapeutics, Inc.), under which we granted Intellia an exclusive worldwide li…" |
| partner | REGENERON PHARMACEUTICALS, INC. (REGN) | 10-K 2026-02-04 | "See the "Collaboration, License, and Other Agreements" section below for descriptions of our agreements with Alnylam Pharmaceuticals, Inc. and Intellia Therapeutics, Inc." |

## Company outlook (8-K filed 2026-08-06)

- "The company's existing cash resources are expected to fund its operations at least into 2028 and well beyond lonvo-z's anticipated U.S. commercial launch for HAE in the first half of 2027."
- "This guidance excludes all potential commercial revenues from lonvo-z. • Collaboration Revenue : Collaboration revenue was $7.7 million for the second quarter of 2026, compared to $14.2 million for the second quarter of 2025."
- "("Regeneron") and their co-development program for ATTR amyloidosis; and its growth as a company and expectations regarding its uses of capital, expenses, future accumulated deficit and financial results, including its ability to fund operations at least into 2028 and well beyond lonvo-z's anticipated U.S. commercial launch for HAE in the first half of 2027."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.79 | $-0.78 | +0.7% | $9.8M | 16 |
| Next quarter (ends 2026-12-31) | $-0.75 | $-0.77 | -1.9% | $17.1M | 16 |
| Current fiscal year (ends 2026-12-31) | $-3.14 | $-3.14 | +0.1% | $51.9M | 17 |
| Next fiscal year (ends 2027-12-31) | $-2.56 | $-1.76 | +45.9% | $126.3M | 17 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-05): ±18.3%; last 8 reports averaged ±9%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 82.1% | ±18.3% |
| 2026-12-18 | 56 | 76.6% | ±23.9% |
| 2027-01-15 | 84 | 74.9% | ±28.6% |
| 2027-04-16 | 175 | 78.9% | ±38.2% |