Canaccord Genuity Group Reaffirms Buy Rating for Intellia Therapeutics (NASDAQ:NTLA)

Canaccord Genuity Group reiterated their buy rating on shares of Intellia Therapeutics (NASDAQ:NTLA) in a research note released on Tuesday,Benzinga reports. Canaccord Genuity Group currently has a $90.00 price target on the stock.

NTLA has been the subject of a number of other research reports. Stifel Nicolaus reduced their target price on Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Chardan Capital upped their target price on Intellia Therapeutics from $88.00 to $91.00 and gave the company a “buy” rating in a research report on Monday. Barclays reduced their price target on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Wedbush reaffirmed a “neutral” rating and issued a $14.00 price objective on shares of Intellia Therapeutics in a report on Monday. Finally, The Goldman Sachs Group cut their price objective on shares of Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.94.

Intellia Therapeutics Stock Performance

Shares of NTLA stock opened at $14.13 on Tuesday. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -2.60 and a beta of 1.81. The stock’s 50-day simple moving average is $18.52 and its 200-day simple moving average is $21.97. Intellia Therapeutics has a fifty-two week low of $13.54 and a fifty-two week high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share for the quarter, topping the consensus estimate of ($1.37) by $0.03. The company had revenue of $9.10 million for the quarter, compared to analysts’ expectations of $8.28 million. The firm’s revenue for the quarter was down 24.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.38) EPS. As a group, equities analysts forecast that Intellia Therapeutics will post -5.13 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Michael P. Dube sold 2,012 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total transaction of $38,248.12. Following the completion of the transaction, the chief accounting officer now directly owns 47,012 shares of the company’s stock, valued at $893,698.12. This represents a 4.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intellia Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in Intellia Therapeutics during the first quarter valued at $160,000. ProShare Advisors LLC raised its position in shares of Intellia Therapeutics by 11.9% during the 1st quarter. ProShare Advisors LLC now owns 23,235 shares of the company’s stock worth $639,000 after purchasing an additional 2,466 shares during the last quarter. Vanguard Group Inc. lifted its stake in Intellia Therapeutics by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock valued at $250,168,000 after buying an additional 746,263 shares in the last quarter. EntryPoint Capital LLC boosted its holdings in Intellia Therapeutics by 61.1% in the 1st quarter. EntryPoint Capital LLC now owns 4,122 shares of the company’s stock worth $113,000 after buying an additional 1,563 shares during the last quarter. Finally, Axxcess Wealth Management LLC increased its stake in Intellia Therapeutics by 6.5% during the 1st quarter. Axxcess Wealth Management LLC now owns 16,602 shares of the company’s stock worth $457,000 after buying an additional 1,010 shares in the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

About Intellia Therapeutics

Intellia Therapeutics, Inc, a genome editing company, focuses on the development of curative therapeutics. The company's in vivo programs include NTLA-2001, which is in Phase 1 clinical trial for the treatment of transthyretin amyloidosis; NTLA-2002 for the treatment of hereditary angioedema; and NTLA-3001 for alpha-1 antitrypsin deficiency associated lung disease.