Intellia Therapeutics (NASDAQ:NTLA) Upgraded by Citizens Jmp to “Outperform” Rating

Citizens Jmp upgraded shares of Intellia Therapeutics (NASDAQ:NTLA) from a market perform rating to an outperform rating in a report issued on Monday, Marketbeat reports. The firm currently has $33.00 price target on the stock.

NTLA has been the topic of several other research reports. Guggenheim restated a “buy” rating and issued a $14.00 target price on shares of Intellia Therapeutics in a research report on Wednesday, August 13th. Wall Street Zen upgraded Intellia Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Wedbush reaffirmed a “neutral” rating and set a $7.00 target price on shares of Intellia Therapeutics in a report on Monday, June 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intellia Therapeutics in a research report on Saturday, September 27th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $45.00 price target (down from $50.00) on shares of Intellia Therapeutics in a research note on Friday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.95.

Intellia Therapeutics Stock Performance

NASDAQ:NTLA opened at $20.54 on Monday. The company has a fifty day moving average of $13.03 and a two-hundred day moving average of $10.41. Intellia Therapeutics has a fifty-two week low of $5.90 and a fifty-two week high of $21.49. The stock has a market capitalization of $2.20 billion, a PE ratio of -4.38 and a beta of 2.37.

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

Insider Buying and Selling

In other news, EVP Edward J. Dulac III sold 7,462 shares of Intellia Therapeutics stock in a transaction that occurred on Wednesday, July 23rd. The shares were 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 approximately $1,486,989.24. The trade was a 6.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Michael P. Dube sold 1,871 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $17.38, for a total value of $32,517.98. Following the completion of the transaction, the chief accounting officer owned 55,266 shares in the company, valued at $960,523.08. This represents a 3.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,364 shares of company stock worth $137,674. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Intellia Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new position in shares of Intellia Therapeutics during the 2nd quarter worth $26,000. Whipplewood Advisors LLC lifted its position in Intellia Therapeutics by 114,900.0% in the second quarter. Whipplewood Advisors LLC now owns 3,450 shares of the company’s stock valued at $32,000 after buying an additional 3,447 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Intellia Therapeutics by 56.4% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,590 shares of the company’s stock worth $33,000 after buying an additional 1,655 shares during the period. Harbour Investments Inc. boosted its stake in Intellia Therapeutics by 76.7% during the first quarter. Harbour Investments Inc. now owns 5,214 shares of the company’s stock worth $37,000 after buying an additional 2,264 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Intellia Therapeutics during the second quarter valued at about $52,000. Hedge funds and other institutional investors 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.