Intellia Therapeutics (NASDAQ:NTLA) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Intellia Therapeutics (NASDAQ:NTLA) in a research note released on Tuesday morning, Benzinga reports. They currently have a $65.00 target price on the stock.

Other research analysts also recently issued research reports about the stock. Bank of America boosted their target price on shares of Intellia Therapeutics from $89.00 to $91.00 in a research report on Tuesday, June 13th. Barclays decreased their price target on shares of Intellia Therapeutics from $148.00 to $90.00 and set an overweight rating for the company in a research note on Friday, August 4th. StockNews.com assumed coverage on shares of Intellia Therapeutics in a research note on Thursday, May 18th. They set a sell rating for the company. Chardan Capital reiterated a buy rating and issued a $107.00 target price on shares of Intellia Therapeutics in a research note on Monday, August 7th. Finally, Citigroup reduced their target price on shares of Intellia Therapeutics from $44.00 to $40.00 and set a neutral rating for the company in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Intellia Therapeutics presently has an average rating of Moderate Buy and a consensus target price of $81.89.

Intellia Therapeutics Stock Performance

Shares of NASDAQ NTLA opened at $38.19 on Tuesday. The company has a market capitalization of $3.38 billion, a P/E ratio of -6.99 and a beta of 1.84. Intellia Therapeutics has a 52-week low of $32.44 and a 52-week high of $69.28. The company’s 50 day moving average price is $40.79 and its 200-day moving average price is $40.25.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings results on Thursday, August 3rd. The company reported ($1.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.08). Intellia Therapeutics had a negative return on equity of 41.64% and a negative net margin of 854.92%. The firm had revenue of $13.59 million during the quarter, compared to analyst estimates of $12.08 million. During the same quarter last year, the firm posted ($1.33) EPS. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. Analysts forecast that Intellia Therapeutics will post -5.59 earnings per share for the current year.

Insider Activity at Intellia Therapeutics

In other news, Director Muna Bhanji sold 1,867 shares of the business’s stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $39.30, for a total transaction of $73,373.10. Following the sale, the director now owns 12,526 shares in the company, valued at approximately $492,271.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Muna Bhanji sold 1,867 shares of the company’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $39.30, for a total value of $73,373.10. Following the transaction, the director now owns 12,526 shares in the company, valued at approximately $492,271.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Eliana Clark sold 5,000 shares of the company’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $45.00, for a total transaction of $225,000.00. Following the completion of the transaction, the executive vice president now owns 45,146 shares in the company, valued at approximately $2,031,570. The disclosure for this sale can be found here. Insiders have sold a total of 7,492 shares of company stock worth $324,174 over the last quarter. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

A number of hedge funds have recently bought and sold shares of NTLA. Morgan Stanley raised its position in Intellia Therapeutics by 64.5% in the 4th quarter. Morgan Stanley now owns 2,518,150 shares of the company’s stock worth $87,858,000 after buying an additional 987,599 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Intellia Therapeutics by 48.7% during the 1st quarter. Wellington Management Group LLP now owns 2,966,140 shares of the company’s stock valued at $110,548,000 after purchasing an additional 971,952 shares during the last quarter. Norges Bank purchased a new stake in shares of Intellia Therapeutics during the 4th quarter valued at about $29,910,000. State Street Corp increased its holdings in Intellia Therapeutics by 31.1% in the 2nd quarter. State Street Corp now owns 3,143,811 shares of the company’s stock worth $162,724,000 after acquiring an additional 746,284 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in Intellia Therapeutics by 9.6% in the 2nd quarter. BlackRock Inc. now owns 8,054,963 shares of the company’s stock worth $328,481,000 after acquiring an additional 706,344 shares in the last quarter. Hedge funds and other institutional investors own 87.72% 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; and NTLA-2002 for the treatment of hereditary angioedema, as well as for other product candidates, including NTLA-2003 for alpha-1 antitrypsin deficiency-liver disease; and NTLA-3001 for alpha-1 antitrypsin deficiency-lung disease; and NTLA-6001 for CD30+ lymphomas.