Truist Financial Reiterates “Buy” Rating for Intellia Therapeutics (NASDAQ:NTLA)

Intellia Therapeutics (NASDAQ:NTLA)‘s stock had its “buy” rating reissued by analysts at Truist Financial in a report released on Monday, MarketBeat.com reports. They currently have a $14.00 price target on the stock, down from their prior price target of $25.00. Truist Financial’s price target would suggest a potential upside of 37.52% from the stock’s current price.

Several other equities analysts have also commented on the company. JMP Securities reduced their price target on Intellia Therapeutics from $33.00 to $29.00 and set a “market outperform” rating on the stock in a research report on Tuesday, October 28th. Guggenheim lowered shares of Intellia Therapeutics from a “buy” rating to a “neutral” rating in a research note on Monday, October 27th. Robert W. Baird set a $9.00 target price on shares of Intellia Therapeutics in a research report on Thursday, October 30th. Bank of America lowered their price target on shares of Intellia Therapeutics from $36.00 to $30.00 and set a “buy” rating for the company in a report on Monday, October 27th. Finally, William Blair downgraded shares of Intellia Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, October 27th. Twelve investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $18.25.

Intellia Therapeutics Trading Up 4.6%

Shares of Intellia Therapeutics stock opened at $10.18 on Monday. The company has a fifty day moving average price of $17.13 and a 200 day moving average price of $12.56. Intellia Therapeutics has a twelve month low of $5.90 and a twelve month high of $28.25. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -2.38 and a beta of 2.44.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.92) EPS for the quarter, beating the consensus estimate of ($1.02) by $0.10. The company had revenue of $13.78 million for the quarter, compared to analyst estimates of $14.12 million. Intellia Therapeutics had a negative return on equity of 57.01% and a negative net margin of 774.94%.The firm’s revenue was up 51.6% compared to the same quarter last year. During the same period last year, the company posted ($1.34) earnings per share. Analysts forecast that Intellia Therapeutics will post -5.07 earnings per share for the current year.

Insider Buying and Selling at Intellia Therapeutics

In other news, Director William J. Chase purchased 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was acquired at an average cost 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 trade represents a 288.24% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, the chief accounting officer owned 55,266 shares in the company, valued at $960,523.08. The trade was a 3.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. lifted its stake in Intellia Therapeutics by 51.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,726 shares of the company’s stock worth $140,000 after purchasing an additional 6,722 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Intellia Therapeutics by 9.7% during the first quarter. Envestnet Asset Management Inc. now owns 73,150 shares of the company’s stock worth $520,000 after purchasing an additional 6,496 shares during the period. CWM LLC lifted its position in shares of Intellia Therapeutics by 904.2% in the 1st quarter. CWM LLC now owns 14,912 shares of the company’s stock worth $106,000 after buying an additional 13,427 shares during the last quarter. Grandfield & Dodd LLC lifted its position in shares of Intellia Therapeutics by 56.4% in the 1st quarter. Grandfield & Dodd LLC now owns 48,645 shares of the company’s stock worth $346,000 after buying an additional 17,550 shares during the last quarter. Finally, LMG Wealth Partners LLC boosted its holdings in shares of Intellia Therapeutics by 28.4% in the 1st quarter. LMG Wealth Partners LLC now owns 14,285 shares of the company’s stock valued at $102,000 after buying an additional 3,157 shares during the period. Institutional investors and hedge funds own 88.77% of the company’s stock.

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.