Intellia Therapeutics’ (NTLA) Neutral Rating Reaffirmed at Wedbush

Intellia Therapeutics (NASDAQ:NTLA)‘s stock had its “neutral” rating restated by analysts at Wedbush in a research note issued to investors on Friday,RTT News reports. They currently have a $10.00 price objective on the stock, down from their prior price objective of $14.00. Wedbush’s target price points to a potential downside of 1.96% from the stock’s current price.

Several other equities analysts have also weighed in on the company. Canaccord Genuity Group reissued a “buy” rating and issued a $90.00 target price on shares of Intellia Therapeutics in a research note on Tuesday, November 19th. Royal Bank of Canada restated an “outperform” rating and set a $54.00 price objective on shares of Intellia Therapeutics in a report on Thursday, September 19th. Robert W. Baird cut their target price on shares of Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. BMO Capital Markets decreased their price target on shares of Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating for the company in a report on Friday. Finally, StockNews.com raised Intellia Therapeutics to a “sell” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Intellia Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $52.81.

Intellia Therapeutics Trading Down 15.1 %

Shares of NTLA traded down $1.82 on Friday, reaching $10.20. 7,215,488 shares of the company’s stock were exchanged, compared to its average volume of 3,277,925. The business has a 50 day moving average price of $13.87 and a two-hundred day moving average price of $19.10. Intellia Therapeutics has a 12 month low of $9.93 and a 12 month high of $34.87. The stock has a market capitalization of $1.04 billion, a P/E ratio of -1.87 and a beta of 1.83.

Intellia Therapeutics (NASDAQ:NTLA) last issued its earnings results on Thursday, November 7th. The company reported ($1.34) EPS for the quarter, beating the consensus estimate of ($1.37) by $0.03. The business had revenue of $9.10 million for the quarter, compared to the consensus estimate of $8.28 million. The business’s revenue was down 24.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.38) EPS. Equities research analysts predict that Intellia Therapeutics will post -5.12 EPS for the current year.

Insider Activity at Intellia Therapeutics

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of Intellia Therapeutics stock in a transaction 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 approximately $11,462,780.70. The trade was a 2.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have sold 28,735 shares of company stock valued at $349,909. 3.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Intellia Therapeutics

Large investors have recently modified their holdings of the business. ARK Investment Management LLC raised its holdings in Intellia Therapeutics by 5.7% during the third quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock worth $251,849,000 after acquiring an additional 659,651 shares in the last quarter. State Street Corp raised its stake in shares of Intellia Therapeutics by 17.9% during the 3rd quarter. State Street Corp now owns 5,143,534 shares of the company’s stock worth $105,700,000 after purchasing an additional 780,754 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of 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 purchasing an additional 49,367 shares in the last quarter. FMR LLC boosted its holdings in shares of Intellia Therapeutics by 5.0% in the 3rd quarter. FMR LLC now owns 2,339,522 shares of the company’s stock valued at $48,077,000 after buying an additional 111,104 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Intellia Therapeutics by 19.2% in the second quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock valued at $51,494,000 after buying an additional 371,189 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.