Intellia Therapeutics (NASDAQ:NTLA) Rating Increased to Strong-Buy at Truist Financial

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

Other equities research analysts also recently issued reports about the company. Chardan Capital restated a “buy” rating and issued a $26.00 target price on shares of Intellia Therapeutics in a research report on Friday, February 27th. HC Wainwright lifted their price target on Intellia Therapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Bank of America reissued a “neutral” rating on shares of Intellia Therapeutics in a research note on Monday, March 2nd. restated a “buy” rating on shares of Intellia Therapeutics in a report on Tuesday, March 3rd. Finally, Wall Street Zen raised Intellia Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Intellia Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $19.59.

Intellia Therapeutics Trading Up 3.5%

NTLA stock opened at $13.26 on Wednesday. The firm’s 50-day moving average is $13.14 and its two-hundred day moving average is $13.32. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of -3.46 and a beta of 2.10. Intellia Therapeutics has a 52 week low of $5.90 and a 52 week high of $28.25.

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

Insiders Place Their Bets

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 transaction, the executive vice president owned 101,528 shares in the company, valued at approximately $935,072.88. The trade was a 9.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO John M. Leonard sold 34,146 shares of the company’s stock in a transaction on Monday, January 5th. The shares were 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 $9,332,852.19. This represents a 3.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 53,051 shares of company stock worth $488,600. 3.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Intellia Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Rockefeller Capital Management L.P. lifted its holdings in shares of Intellia Therapeutics by 1.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 140,218 shares of the company’s stock valued at $1,261,000 after purchasing an additional 2,277 shares during the last quarter. Virtu Financial LLC purchased a new position in Intellia Therapeutics in the 4th quarter worth about $245,000. Invesco Ltd. increased its stake in Intellia Therapeutics by 5.8% in the 4th quarter. Invesco Ltd. now owns 433,290 shares of the company’s stock worth $3,895,000 after purchasing an additional 23,870 shares in the last quarter. Axxcess Wealth Management LLC raised its holdings in Intellia Therapeutics by 20.1% during the 4th quarter. Axxcess Wealth Management LLC now owns 21,399 shares of the company’s stock worth $192,000 after buying an additional 3,583 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Intellia Therapeutics during the 4th quarter worth about $90,000. 88.77% of the stock is owned by institutional investors and hedge funds.

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.