Intellia Therapeutics’ (NTLA) Neutral Rating Reaffirmed at Wedbush

Intellia Therapeutics (NASDAQ:NTLA)‘s stock had its “neutral” rating reiterated by equities researchers at Wedbush in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $29.00 price objective on the stock. Wedbush’s target price suggests a potential upside of 31.70% from the company’s previous close.

A number of other research firms have also recently issued reports on NTLA. Canaccord Genuity Group increased their target price on Intellia Therapeutics from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. The Goldman Sachs Group downgraded shares of Intellia Therapeutics from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $136.00 to $32.00 in a research note on Friday, February 23rd. Finally, Wolfe Research started coverage on shares of Intellia Therapeutics in a research note on Thursday, February 15th. They set a “peer perform” rating for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Intellia Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Intellia Therapeutics Price Performance

NTLA stock traded up $0.19 during trading hours on Tuesday, reaching $22.02. 343,709 shares of the stock were exchanged, compared to its average volume of 1,496,162. The firm’s 50-day moving average is $27.05 and its 200-day moving average is $27.78. The company has a market cap of $2.12 billion, a price-to-earnings ratio of -4.07 and a beta of 1.77. Intellia Therapeutics has a 12 month low of $20.78 and a 12 month high of $47.48.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.47) by $0.01. The firm had revenue of ($1.92) million during the quarter, compared to analysts’ expectations of $15.10 million. Intellia Therapeutics had a negative return on equity of 43.91% and a negative net margin of 893.34%. During the same quarter in the prior year, the company earned ($1.40) EPS. As a group, equities research analysts forecast that Intellia Therapeutics will post -5.58 earnings per share for the current year.

Insider Buying and Selling at Intellia Therapeutics

In other Intellia Therapeutics news, EVP James Basta sold 2,297 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $32.99, for a total value of $75,778.03. Following the transaction, the executive vice president now directly owns 81,571 shares of the company’s stock, valued at approximately $2,691,027.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Barclays PLC increased its holdings in shares of Intellia Therapeutics by 15.0% during the third quarter. Barclays PLC now owns 256,626 shares of the company’s stock worth $8,115,000 after purchasing an additional 33,558 shares during the period. ARK Investment Management LLC increased its holdings in shares of Intellia Therapeutics by 14.7% during the fourth quarter. ARK Investment Management LLC now owns 11,412,449 shares of the company’s stock worth $347,966,000 after purchasing an additional 1,463,820 shares during the period. American Century Companies Inc. increased its holdings in shares of Intellia Therapeutics by 5.9% during the third quarter. American Century Companies Inc. now owns 267,213 shares of the company’s stock worth $8,449,000 after purchasing an additional 14,863 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Intellia Therapeutics by 13.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 36,225 shares of the company’s stock worth $1,104,000 after purchasing an additional 4,255 shares during the period. Finally, Wellington Management Group LLP increased its stake in Intellia Therapeutics by 1.4% in the third quarter. Wellington Management Group LLP now owns 2,651,994 shares of the company’s stock valued at $83,856,000 after acquiring an additional 36,630 shares during the last quarter. 88.77% of the stock is owned by institutional investors.

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.