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

Wedbush reiterated their neutral rating on shares of Intellia Therapeutics (NASDAQ:NTLA) in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has a $29.00 price objective on the stock.

Other research analysts also recently issued research reports about the stock. The Goldman Sachs Group downgraded shares of Intellia Therapeutics from a buy rating to a neutral rating and reduced their price target for the stock from $136.00 to $32.00 in a research note on Friday, February 23rd. Wolfe Research assumed coverage on shares of Intellia Therapeutics in a research note on Thursday, February 15th. They issued a peer perform rating on the stock. Finally, Canaccord Genuity Group raised their price target on shares of Intellia Therapeutics from $72.00 to $73.00 and gave the stock a buy rating in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $67.00.

Intellia Therapeutics Trading Down 1.4 %

Shares of NTLA opened at $21.53 on Tuesday. Intellia Therapeutics has a twelve month low of $20.78 and a twelve month high of $47.48. The company has a market cap of $2.08 billion, a P/E ratio of -3.98 and a beta of 1.77. The company’s fifty day simple moving average is $26.96 and its 200-day simple moving average is $27.72.

Intellia Therapeutics (NASDAQ:NTLA) last announced its earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share for the quarter, beating the consensus estimate of ($1.47) by $0.01. Intellia Therapeutics had a negative net margin of 893.34% and a negative return on equity of 43.91%. The business had revenue of ($1.92) million for the quarter, compared to the consensus estimate of $15.10 million. During the same quarter in the prior year, the firm posted ($1.40) earnings per share. Analysts predict that Intellia Therapeutics will post -5.58 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP James Basta sold 2,297 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $32.99, for a total value of $75,778.03. Following the sale, the executive vice president now directly owns 81,571 shares in the company, valued at approximately $2,691,027.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.00% of the company’s stock.

Institutional Trading of Intellia Therapeutics

Institutional investors have recently bought and sold shares of the stock. ARK Investment Management LLC raised its position in Intellia Therapeutics by 14.7% during the 4th quarter. ARK Investment Management LLC now owns 11,412,449 shares of the company’s stock worth $347,966,000 after buying an additional 1,463,820 shares during the last quarter. Rhenman & Partners Asset Management AB increased its holdings in shares of Intellia Therapeutics by 1,600.0% during the 3rd quarter. Rhenman & Partners Asset Management AB now owns 850,000 shares of the company’s stock valued at $26,877,000 after purchasing an additional 800,000 shares in the last quarter. Norges Bank purchased a new position in shares of Intellia Therapeutics during the 4th quarter valued at approximately $16,348,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Intellia Therapeutics in the 4th quarter valued at $9,086,000. Finally, Vestmark Advisory Solutions Inc. acquired a new stake in Intellia Therapeutics in the 4th quarter valued at $8,110,000. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.