Intellia Therapeutics (NASDAQ:NTLA) Stock Rating Lowered by Royal Bank Of Canada

Intellia Therapeutics (NASDAQ:NTLA) was downgraded by analysts at Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. They presently have a $14.00 target price on the stock, down from their prior target price of $21.00. Royal Bank Of Canada’s price objective would indicate a potential upside of 6.71% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Sanford C. Bernstein set a $14.50 price target on Intellia Therapeutics in a report on Tuesday. William Blair downgraded Intellia Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday. Citigroup reiterated a “market outperform” rating on shares of Intellia Therapeutics in a report on Tuesday. Barclays reduced their price objective on Intellia Therapeutics from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, HC Wainwright reduced their price objective on Intellia Therapeutics from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Monday. Twelve analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $24.95.

Intellia Therapeutics Stock Performance

Shares of NTLA stock opened at $13.12 on Tuesday. The company has a market cap of $1.41 billion, a P/E ratio of -2.80 and a beta of 2.37. The stock has a 50 day simple moving average of $17.03 and a two-hundred day simple moving average of $12.27. Intellia Therapeutics has a fifty-two week low of $5.90 and a fifty-two week high of $28.25.

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

Insider Transactions at Intellia Therapeutics

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

Institutional Trading of Intellia Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of NTLA. Headlands Technologies LLC purchased a new stake in shares of Intellia Therapeutics in the 2nd quarter valued at about $26,000. Blue Bell Private Wealth Management LLC purchased a new stake in shares of Intellia Therapeutics in the 3rd quarter valued at about $30,000. Whipplewood Advisors LLC raised its holdings in shares of Intellia Therapeutics by 114,900.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 3,450 shares of the company’s stock valued at $32,000 after acquiring an additional 3,447 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Intellia Therapeutics by 56.4% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,590 shares of the company’s stock valued at $33,000 after acquiring an additional 1,655 shares in the last quarter. Finally, Harbour Investments Inc. raised its holdings in shares of Intellia Therapeutics by 76.7% in the 1st quarter. Harbour Investments Inc. now owns 5,214 shares of the company’s stock valued at $37,000 after acquiring an additional 2,264 shares in the last quarter. 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.