Intellia Therapeutics (NASDAQ:NTLA) Upgraded at Wall Street Zen

Intellia Therapeutics (NASDAQ:NTLA) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

NTLA has been the topic of a number of other reports. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $5.00 price target (down from $12.00) on shares of Intellia Therapeutics in a report on Friday, November 7th. Truist Financial reissued a “buy” rating and issued a $14.00 target price (down previously from $25.00) on shares of Intellia Therapeutics in a research report on Monday, November 10th. Guggenheim downgraded shares of Intellia Therapeutics from a “buy” rating to a “neutral” rating in a report on Monday, October 27th. Bank of America reduced their price target on shares of Intellia Therapeutics from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, October 27th. Finally, Robert W. Baird set a $9.00 price objective on shares of Intellia Therapeutics in a research report on Thursday, October 30th. Ten equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $17.00.

Intellia Therapeutics Stock Down 1.1%

NASDAQ:NTLA opened at $10.41 on Friday. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -2.44 and a beta of 2.05. The company’s 50 day moving average price is $9.44 and its 200-day moving average price is $12.68. Intellia Therapeutics has a 52 week low of $5.90 and a 52 week high of $28.25.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.92) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.10. Intellia Therapeutics had a negative net margin of 774.94% and a negative return on equity of 57.01%. The company had revenue of $13.78 million during the quarter, compared to analyst estimates of $14.12 million. During the same period in the previous year, the business earned ($1.34) EPS. The firm’s revenue for the quarter was up 51.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Intellia Therapeutics will post -5.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP James Basta sold 10,397 shares of Intellia Therapeutics stock in a transaction on Monday, January 5th. The shares were sold at an average price of $9.21, for a total transaction of $95,756.37. Following the transaction, the executive vice president owned 101,528 shares in the company, valued at $935,072.88. This trade represents a 9.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John M. Leonard sold 34,146 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $9.21, for a total value of $314,484.66. Following the completion of the transaction, the chief executive officer directly owned 1,013,339 shares in the company, valued at approximately $9,332,852.19. This represents a 3.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 53,051 shares of company stock worth $488,600. Company insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Intellia Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NTLA. Vanguard Group Inc. boosted its position in shares of Intellia Therapeutics by 1.8% in the third quarter. Vanguard Group Inc. now owns 11,044,820 shares of the company’s stock worth $190,744,000 after purchasing an additional 192,651 shares during the period. Contrarius Group Holdings Ltd boosted its holdings in Intellia Therapeutics by 279.4% in the 3rd quarter. Contrarius Group Holdings Ltd now owns 5,889,936 shares of the company’s stock worth $101,719,000 after buying an additional 4,337,428 shares during the period. Baker BROS. Advisors LP increased its stake in Intellia Therapeutics by 2.7% in the 3rd quarter. Baker BROS. Advisors LP now owns 2,746,674 shares of the company’s stock worth $47,435,000 after buying an additional 71,000 shares in the last quarter. Geode Capital Management LLC raised its holdings in Intellia Therapeutics by 5.1% during the second quarter. Geode Capital Management LLC now owns 2,606,222 shares of the company’s stock valued at $24,449,000 after acquiring an additional 126,049 shares during the period. Finally, Two Sigma Investments LP lifted its position in shares of Intellia Therapeutics by 7.6% in the third quarter. Two Sigma Investments LP now owns 2,449,607 shares of the company’s stock valued at $42,305,000 after acquiring an additional 173,033 shares in the last quarter. Institutional investors own 88.77% of the company’s stock.

About Intellia Therapeutics

Intellia Therapeutics, Inc (NASDAQ: NTLA) is a clinical‐stage biotechnology company focused on developing potentially curative genome editing therapies using the CRISPR/Cas9 platform. The company’s research spans both in vivo and ex vivo applications of CRISPR/Cas9, aiming to correct or disable disease‐causing genes with a single administration. Intellia’s lead in vivo program targets transthyretin amyloidosis (ATTR) by delivering CRISPR/Cas9 machinery directly to the liver, while additional preclinical efforts pursue treatments for hemophilia A, hereditary angioedema and other genetic disorders.

Beyond its in vivo pipeline, Intellia collaborates with strategic partners to extend the impact of its genome editing approach.