One-glance verdict
Overvalued
$6.40 our estimate vs market $11.17
Wall Street consensus: $22.78 (256.0% higher than our fair-value estimate)
75% above our estimate, beyond the bull case
Fundamentals snapshot
Intellia Therapeutics, Inc.
NTLA · NGM · Healthcare · Biotechnology
Current price
$11.17
52-week range
$7.95 - $18.48
Market cap
$1.57B
Balance sheet
Healthy
-15.10x Concerning
Net cash $243.97M. Interest coverage shows how many times profit covers the interest bill.
What stands out
1 Reward
2 Risks
1 rewards · 2 risks
- Reward Free cash flow was positive in 1/10 years.
- Risk Operating margin compressed from -879.0% to -1707.7% over 3 years.
- Risk Return on equity was -62.6% last year — the company lost money on shareholders' equity.
What this company does
Intellia Therapeutics, Inc.
Intellia Therapeutics is a company that is developing new medicines using a special gene-editing technology called CRISPR. They are working on treatments for serious diseases like a specific type of heart condition and a rare swelling disorder, and their money primarily comes from partnerships with larger drug companies. This matters because if their experimental treatments are successful, they could offer new hope for patients with few other options.
How the company got here
Intellia Therapeutics, Inc. was founded in 2014, initially known as AZRN, Inc., and later changed its name to Intellia Therapeutics in July of that year. The company's journey began with a focus on harnessing the power of CRISPR/Cas9 gene editing technology. This groundbreaking technology allows scientists to make precise changes to DNA, offering the potential to correct genetic defects that cause diseases. Intellia has since grown into a clinical-stage company, advancing its research and development efforts to translate this scientific potential into actual therapies.
What it actually does
Intellia Therapeutics is a biotechnology company that uses a sophisticated gene editing tool called CRISPR/Cas9. Think of CRISPR/Cas9 as a highly precise molecular scissors that can find and cut specific parts of DNA. Intellia's goal is to use these "scissors" to fix faulty genes that cause serious illnesses, aiming to develop treatments that could potentially cure diseases rather than just manage symptoms. They are developing therapies that can be delivered directly into the body (in vivo) or modified outside the body and then given to patients (ex vivo).
In Vivo Therapies
This part of Intellia's business focuses on therapies delivered directly into the patient's body to edit genes within specific organs, primarily the liver. Their lead programs include NTLA-2001, which is being developed to treat transthyretin amyloidosis, a rare disease where abnormal proteins build up in organs. Another candidate, NTLA-2002, targets hereditary angioedema, a condition causing severe swelling. These 'in vivo' therapies represent a significant portion of Intellia's development efforts, aiming to address diseases with a single treatment that corrects the underlying genetic cause.
Ex Vivo Therapies and Partnerships
Intellia also works on 'ex vivo' therapies, where cells are taken from a patient or donor, edited in a lab using CRISPR/Cas9, and then given back to the patient. This approach is being explored for conditions like immuno-oncology (using the immune system to fight cancer) and autoimmune diseases. The company has formed several key partnerships with other biotech firms, such as Regeneron Pharmaceuticals, to advance these ex vivo cell therapies and explore treatments for diseases like cystic fibrosis and various cancers. These collaborations help share the costs and expertise needed to bring complex therapies to market.
What management is betting on now
Intellia's management is focused on advancing its clinical pipeline, particularly its in vivo gene editing therapies for serious genetic diseases. They are prioritizing the successful progression of their programs for transthyretin amyloidosis and hereditary angioedema through clinical trials. Additionally, the company is strategically expanding its research into new areas like immuno-oncology and autoimmune diseases, often through collaborations. The core bet is that their precise CRISPR/Cas9 technology can lead to one-time curative treatments for a range of debilitating conditions, moving beyond traditional symptom management.
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q4
$-86.18M
FY2025 Q1
$-149.66M
FY2025 Q2
$-99.86M
FY2025 Q3
$-76.93M
FY2025 Q4
$-69.41M
FY2026 Q1
$-117.42M
FY2026 Q2
$-84.92M
FY2026 Q3
$-86.32M
Revenue
$7.16M
Net income
$-127.48M
Diluted EPS
-0.91
Operating cash flow
$-85.43M
Free cash flow
$-86.32M
Fetching…
Sources
Revenue
$7.66M
Net income
$-106.63M
Diluted EPS
-0.80
Operating cash flow
$-83.11M
Free cash flow
$-84.92M
Fetching…
Sources
Revenue
$15.05M
Net income
$-96.23M
Diluted EPS
-0.81
Operating cash flow
$-117.35M
Free cash flow
$-117.42M
Fetching…
Sources
Revenue
$23.02M
Net income
$-95.79M
Diluted EPS
-0.81
Operating cash flow
$-69.28M
Free cash flow
$-69.41M
Fetching…
Sources
Revenue
$13.78M
Net income
$-101.32M
Diluted EPS
-0.92
Operating cash flow
$-76.90M
Free cash flow
$-76.93M
Fetching…
Sources
Revenue
$14.24M
Net income
$-101.25M
Diluted EPS
-0.98
Operating cash flow
$-99.62M
Free cash flow
$-99.86M
Fetching…
Sources
Revenue
$16.63M
Net income
$-114.33M
Diluted EPS
-1.10
Operating cash flow
$-148.93M
Free cash flow
$-149.66M
Fetching…
Sources
Revenue
$12.87M
Net income
$-128.90M
Diluted EPS
-1.27
Operating cash flow
$-85.19M
Free cash flow
$-86.18M
Fetching…
Sources
Is it cheap or expensive?
Fair value $6.40 vs current price $11.17
Wall Street consensus is the average analyst price target: $22.78 (256.0% higher than our fair-value estimate).
Our most-likely fair value is $6.40 a share — about 42.7% below today's price of $11.17, so the stock currently looks expensive (overvalued).
Is it drowning in debt?
Healthy
Net cash $244.0M - more cash than debt. Interest coverage -15.1x.
Net debt
$-243.97M
Interest coverage
-15.10x
Intellia Therapeutics, Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 3 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
NTLA
BASELINE
Intellia Therapeutics, Inc.
Total debt $230.14M Interest coverage -15.10x This is the baseline the peer rows are being compared against.
Total debt $243.87M Interest coverage -8.77x Neither company has much profit cushion over interest right now.
Total debt $15.51M Interest coverage -16.10x Neither company has much profit cushion over interest right now.
Total debt $26.34M Interest coverage -17,024.25x Neither company has much profit cushion over interest right now.
What you should know
The case for and against NTLA
1 Reward
2 Risks
Rewards
-
Free cash flow was positive in 1/10 years.
Risks
-
Operating margin compressed from -879.0% to -1707.7% over 3 years.
-
Return on equity was -62.6% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
-4.14x
P/B
2.56x
P/S
29.64x
EV/EBITDA
-3.40x
PEG ratio
—
Profitability
How much profit each dollar creates
Gross margin
0.0%
Operating margin
-1,707.7%
Net margin
0.0%
ROE
-62.6%
ROA
-29.9%
Health
Liquidity and balance-sheet strength
Debt / equity
0.38x
Current ratio
6.30x
Quick ratio
6.00x
Total debt
$230.14M
Total cash
$474.11M
Growth
How the business has been compounding
Revenue TTM
$52.89M
Revenue 5Y CAGR
19.6%
EPS TTM
-3.35
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-355.17M
Free CF TTM
$-395.87M
FCF margin
-748.5%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
—
Last ex-div date
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