Intellia Therapeutics’ (NTLA) “Market Outperform” Rating Reiterated at Citizens Jmp

Citizens Jmp reaffirmed their market outperform rating on shares of Intellia Therapeutics (NASDAQ:NTLA) in a report issued on Wednesday,Benzinga reports. The firm currently has a $30.00 price target on the stock.

Several other research firms also recently issued reports on NTLA. Wall Street Zen downgraded shares of Intellia Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Wedbush increased their price objective on shares of Intellia Therapeutics from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of Intellia Therapeutics in a research report on Wednesday. Canaccord Genuity Group reiterated a “buy” rating and issued a $49.00 price target on shares of Intellia Therapeutics in a report on Tuesday, June 16th. Finally, Evercore upgraded Intellia Therapeutics from a “hold” rating to an “outperform” rating and set a $24.00 price target for the company in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $20.98.

Intellia Therapeutics Price Performance

NASDAQ NTLA opened at $11.74 on Wednesday. The firm has a market capitalization of $1.65 billion, a P/E ratio of -3.49 and a beta of 1.82. Intellia Therapeutics has a 1-year low of $7.95 and a 1-year high of $28.25. The business’s 50-day simple moving average is $12.45 and its 200-day simple moving average is $13.40.

Intellia Therapeutics (NASDAQ:NTLA) last issued its earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.80). Intellia Therapeutics had a negative return on equity of 57.79% and a negative net margin of 672.16%.The business had revenue of $7.66 million during the quarter, compared to analysts’ expectations of $12.98 million. During the same quarter in the previous year, the business earned ($0.98) EPS. The company’s revenue for the quarter was down 46.4% on a year-over-year basis. On average, equities research analysts expect that Intellia Therapeutics will post -3.21 EPS for the current fiscal year.

Insider Activity at Intellia Therapeutics

In other Intellia Therapeutics news, CAO Michael Dube sold 2,641 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $16.78, for a total value of $44,315.98. Following the completion of the sale, the chief accounting officer owned 66,886 shares of the company’s stock, valued at $1,122,347.08. This trade represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP J III sold 4,677 shares of Intellia Therapeutics stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $18.00, for a total transaction of $84,186.00. Following the sale, the executive vice president owned 156,286 shares in the company, valued at $2,813,148. This represents a 2.91% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intellia Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Opaleye Management Inc. lifted its holdings in Intellia Therapeutics by 2.0% in the 2nd quarter. Opaleye Management Inc. now owns 250,000 shares of the company’s stock worth $4,230,000 after buying an additional 5,000 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Intellia Therapeutics during the second quarter valued at about $34,000. Arizona State Retirement System grew its stake in shares of Intellia Therapeutics by 17.0% during the second quarter. Arizona State Retirement System now owns 35,356 shares of the company’s stock valued at $598,000 after acquiring an additional 5,131 shares in the last quarter. Nykredit A S purchased a new stake in shares of Intellia Therapeutics during the second quarter worth about $33,000. Finally, Wellington Grp LLC increased its position in shares of Intellia Therapeutics by 46.2% during the second quarter. Wellington Grp LLC now owns 67,688 shares of the company’s stock worth $1,145,000 after acquiring an additional 21,391 shares during the last quarter. Hedge funds and other 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.