Intellia Therapeutics (NASDAQ:NTLA) Cut to “Hold” at Wells Fargo & Company

Wells Fargo & Company downgraded shares of Intellia Therapeutics (NASDAQ:NTLA) from a strong-buy rating to a hold rating in a report published on Monday morning,Zacks.com reports.

Several other brokerages have also recently issued reports on NTLA. HC Wainwright cut their price objective on Intellia Therapeutics from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday. Bank of America cut their price objective on Intellia Therapeutics from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday. Chardan Capital cut their price objective on Intellia Therapeutics from $60.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday. Tudor Pickering set a $14.50 price objective on Intellia Therapeutics in a research note on Tuesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Intellia Therapeutics in a research note on Wednesday, October 8th. Twelve investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Intellia Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $24.95.

Intellia Therapeutics Stock Performance

NASDAQ:NTLA opened at $13.12 on Monday. Intellia Therapeutics has a one year low of $5.90 and a one year high of $28.25. The business’s 50-day simple moving average is $17.03 and its 200 day simple moving average is $12.27. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -2.80 and a beta of 2.37.

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

Insider Buying and Selling

In other news, CAO Michael P. Dube sold 1,871 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $17.38, for a total transaction of $32,517.98. Following the transaction, the chief accounting officer directly owned 55,266 shares in the company, valued at approximately $960,523.08. This trade represents a 3.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William J. Chase acquired 100,000 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were acquired at an average price of $10.03 per share, for a total transaction of $1,003,000.00. Following the completion of the purchase, the director owned 134,693 shares of the company’s stock, valued at approximately $1,350,970.79. This represents a 288.24% increase in their position. The SEC filing for this purchase provides additional information. 3.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intellia Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Nwam LLC purchased a new stake in Intellia Therapeutics during the third quarter valued at approximately $181,000. GWN Securities Inc. purchased a new stake in Intellia Therapeutics during the third quarter valued at approximately $218,000. Benjamin Edwards Inc. lifted its position in Intellia Therapeutics by 2.9% during the third quarter. Benjamin Edwards Inc. now owns 64,850 shares of the company’s stock valued at $1,120,000 after acquiring an additional 1,816 shares during the last quarter. SG Americas Securities LLC lifted its position in Intellia Therapeutics by 239.7% during the third quarter. SG Americas Securities LLC now owns 131,070 shares of the company’s stock valued at $2,264,000 after acquiring an additional 92,485 shares during the last quarter. Finally, KLP Kapitalforvaltning AS lifted its position in Intellia Therapeutics by 47.8% during the third quarter. KLP Kapitalforvaltning AS now owns 26,600 shares of the company’s stock valued at $459,000 after acquiring an additional 8,600 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors.

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.