Intellia Therapeutics’ (NTLA) “Neutral” Rating Reiterated at Wedbush

Wedbush reaffirmed their neutral rating on shares of Intellia Therapeutics (NASDAQ:NTLA) in a report published on Friday morning,RTT News reports. They currently have a $10.00 price objective on the stock, down from their previous price objective of $14.00.

Other equities research analysts have also issued reports about the company. Oppenheimer dropped their price target on Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Barclays dropped their target price on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $54.00 price objective on shares of Intellia Therapeutics in a research report on Thursday, September 19th. Canaccord Genuity Group reissued a “buy” rating and issued a $90.00 target price on shares of Intellia Therapeutics in a report on Tuesday, November 19th. Finally, Wells Fargo & Company lowered their target price on Intellia Therapeutics from $70.00 to $60.00 and set an “overweight” rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $52.81.

Intellia Therapeutics Price Performance

Shares of NTLA stock opened at $10.20 on Friday. The firm has a market cap of $1.04 billion, a P/E ratio of -1.87 and a beta of 1.83. The firm has a fifty day moving average of $13.77 and a two-hundred day moving average of $18.93. Intellia Therapeutics has a 1-year low of $9.93 and a 1-year high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($1.34) EPS for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.03. The firm had revenue of $9.10 million during the quarter, compared to analyst estimates of $8.28 million. During the same quarter last year, the business posted ($1.38) earnings per share. The firm’s revenue for the quarter was down 24.1% on a year-over-year basis. On average, sell-side analysts expect that Intellia Therapeutics will post -5.12 EPS for the current year.

Insider Activity

In related news, CEO John M. Leonard sold 26,807 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $12.18, for a total value of $326,509.26. Following the sale, the chief executive officer now directly owns 941,115 shares in the company, valued at $11,462,780.70. The trade was a 2.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 28,735 shares of company stock worth $349,909 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. boosted its stake in shares of Intellia Therapeutics by 10.3% during the 3rd quarter. Franklin Resources Inc. now owns 16,405 shares of the company’s stock worth $320,000 after acquiring an additional 1,538 shares in the last quarter. Sanctuary Advisors LLC boosted its position in shares of Intellia Therapeutics by 147.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 53,590 shares of the company’s stock valued at $1,101,000 after purchasing an additional 31,976 shares during the period. Virtu Financial LLC purchased a new position in Intellia Therapeutics in the 3rd quarter worth about $417,000. Geode Capital Management LLC raised its holdings in Intellia Therapeutics by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,343,310 shares of the company’s stock worth $48,164,000 after buying an additional 49,367 shares during the period. Finally, Barclays PLC lifted its stake in Intellia Therapeutics by 17.7% during the third quarter. Barclays PLC now owns 292,795 shares of the company’s stock valued at $6,017,000 after buying an additional 44,022 shares in the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

Intellia Therapeutics Company Profile

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.