Intellia Therapeutics (NASDAQ:NTLA) Upgraded by Wall Street Zen to “Hold” Rating

Intellia Therapeutics (NASDAQ:NTLA) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

A number of other analysts also recently weighed in on NTLA. Chardan Capital reduced their price target on shares of Intellia Therapeutics from $68.00 to $60.00 and set a “buy” rating for the company in a report on Monday, August 11th. HC Wainwright dropped their price objective on shares of Intellia Therapeutics from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Wedbush restated a “neutral” rating and issued a $7.00 price objective on shares of Intellia Therapeutics in a research note on Monday, June 16th. Wells Fargo & Company restated an “overweight” rating and issued a $45.00 price objective (down previously from $50.00) on shares of Intellia Therapeutics in a research note on Friday, August 8th. Finally, Canaccord Genuity Group dropped their price objective on shares of Intellia Therapeutics from $74.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, June 3rd. Twelve research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Intellia Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $29.05.

Intellia Therapeutics Price Performance

Shares of Intellia Therapeutics stock opened at $12.06 on Friday. Intellia Therapeutics has a fifty-two week low of $5.90 and a fifty-two week high of $23.76. The firm has a fifty day moving average price of $11.49 and a two-hundred day moving average price of $9.62. The company has a market cap of $1.29 billion, a PE ratio of -2.57 and a beta of 2.28.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.99) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.04. Intellia Therapeutics had a negative net margin of 908.48% and a negative return on equity of 57.48%. The firm had revenue of $14.25 million during the quarter, compared to the consensus estimate of $12.26 million. During the same period in the prior year, the firm earned ($1.52) EPS. The business’s revenue was up 104.3% on a year-over-year basis. Analysts expect that Intellia Therapeutics will post -5.07 earnings per share for the current fiscal year.

Insider Transactions at Intellia Therapeutics

In other news, Director William J. Chase bought 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was acquired at an average price of $10.03 per share, for a total transaction of $1,003,000.00. Following the transaction, the director directly owned 134,693 shares of the company’s stock, valued at $1,350,970.79. This trade represents a 288.24% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Edward J. Dulac III sold 7,462 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $14.02, for a total transaction of $104,617.24. Following the sale, the executive vice president owned 106,062 shares of the company’s stock, valued at $1,486,989.24. This trade represents a 6.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,534 shares of company stock valued at $153,837 in the last quarter. 3.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intellia Therapeutics

A number of hedge funds have recently made changes to their positions in NTLA. Voloridge Investment Management LLC increased its position in shares of Intellia Therapeutics by 226.8% during the 4th quarter. Voloridge Investment Management LLC now owns 1,526,994 shares of the company’s stock worth $17,805,000 after purchasing an additional 1,059,751 shares in the last quarter. Two Sigma Advisers LP grew its holdings in Intellia Therapeutics by 94.5% during the 4th quarter. Two Sigma Advisers LP now owns 1,998,317 shares of the company’s stock worth $23,300,000 after acquiring an additional 970,700 shares during the last quarter. Two Sigma Investments LP grew its holdings in Intellia Therapeutics by 88.1% during the 4th quarter. Two Sigma Investments LP now owns 1,843,743 shares of the company’s stock worth $21,498,000 after acquiring an additional 863,363 shares during the last quarter. Marex Group plc bought a new stake in Intellia Therapeutics during the 2nd quarter worth about $5,849,000. Finally, Vanguard Group Inc. grew its holdings in Intellia Therapeutics by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 10,752,031 shares of the company’s stock worth $76,447,000 after acquiring an additional 561,978 shares during the last quarter. Institutional investors and hedge funds 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.