Intellia Therapeutics (NASDAQ:NTLA) Stock Rating Upgraded by Truist Financial

Intellia Therapeutics (NASDAQ:NTLA) was upgraded by equities research analysts at Truist Financial to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on the stock. Chardan Capital reiterated a “buy” rating and set a $26.00 price target on shares of Intellia Therapeutics in a report on Friday, February 27th. JonesTrading upgraded shares of Intellia Therapeutics from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Wednesday, March 4th. Robert W. Baird set a $7.00 price objective on Intellia Therapeutics in a research report on Tuesday, January 27th. Citizens Jmp increased their target price on Intellia Therapeutics from $21.00 to $28.00 and gave the company a “market outperform” rating in a research note on Tuesday, March 3rd. Finally, KeyCorp set a $25.00 target price on Intellia Therapeutics in a report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Intellia Therapeutics currently has an average rating of “Hold” and an average price target of $19.59.

Intellia Therapeutics Price Performance

NTLA opened at $13.24 on Wednesday. The firm has a market cap of $1.56 billion, a PE ratio of -3.46 and a beta of 2.10. The stock has a 50-day moving average price of $13.16 and a 200-day moving average price of $13.32. Intellia Therapeutics has a 1 year low of $5.90 and a 1 year high of $28.25.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($0.99) by $0.16. The company had revenue of $23.02 million for the quarter, compared to the consensus estimate of $12.17 million. Intellia Therapeutics had a negative net margin of 609.85% and a negative return on equity of 56.81%. Intellia Therapeutics’s revenue for the quarter was up 78.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.27) EPS. As a group, sell-side analysts anticipate that Intellia Therapeutics will post -5.07 EPS for the current year.

Insider Buying and Selling

In other Intellia Therapeutics news, EVP James Basta sold 10,397 shares of Intellia Therapeutics stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $9.21, for a total value of $95,756.37. Following the completion of the sale, the executive vice president owned 101,528 shares of the company’s stock, valued at approximately $935,072.88. The trade was a 9.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Birgit C. Schultes sold 8,508 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $9.21, for a total transaction of $78,358.68. Following the sale, the executive vice president owned 98,533 shares of the company’s stock, valued at approximately $907,488.93. This represents a 7.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 53,051 shares of company stock worth $488,600. 3.10% of the stock is owned by insiders.

Institutional Trading of Intellia Therapeutics

Several large investors have recently modified their holdings of the company. Comerica Bank lifted its holdings in Intellia Therapeutics by 45.8% in the fourth quarter. Comerica Bank now owns 2,869 shares of the company’s stock valued at $26,000 after acquiring an additional 901 shares during the period. Headlands Technologies LLC bought a new stake in shares of Intellia Therapeutics during the 2nd quarter valued at about $26,000. Blue Bell Private Wealth Management LLC purchased a new stake in shares of Intellia Therapeutics during the 3rd quarter valued at about $30,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Intellia Therapeutics in the 3rd quarter worth approximately $30,000. Finally, Advisory Services Network LLC bought a new position in shares of Intellia Therapeutics in the 3rd quarter worth approximately $33,000. Institutional investors own 88.77% of the company’s stock.

Intellia Therapeutics Company Profile

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.