Intellia Therapeutics (NASDAQ:NTLA) Now Covered by HC Wainwright

Equities research analysts at HC Wainwright initiated coverage on shares of Intellia Therapeutics (NASDAQ:NTLA) in a research report issued on Friday, The Fly reports. The brokerage set a “buy” rating on the stock.

Other research analysts have also issued reports about the company. Zacks Investment Research raised Intellia Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, March 3rd. Roth Capital raised Intellia Therapeutics from a “neutral” rating to a “buy” rating and increased their target price for the stock from $75.00 to $80.00 in a report on Friday, May 7th. Truist increased their target price on Intellia Therapeutics from $40.00 to $80.00 in a report on Friday, February 26th. JMP Securities initiated coverage on Intellia Therapeutics in a report on Thursday, March 4th. They set an “outperform” rating and a $80.00 target price on the stock. Finally, Royal Bank of Canada initiated coverage on Intellia Therapeutics in a report on Monday, May 3rd. They set an “outperform” rating and a $110.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $71.83.

Shares of NASDAQ NTLA opened at $83.15 on Friday. The firm has a fifty day moving average price of $72.48. Intellia Therapeutics has a one year low of $16.54 and a one year high of $92.00. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of -33.80 and a beta of 2.05.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings data on Thursday, May 6th. The company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.03). Intellia Therapeutics had a negative net margin of 288.47% and a negative return on equity of 33.89%. The firm had revenue of $6.45 million during the quarter, compared to analyst estimates of $8.57 million. During the same period in the prior year, the company earned ($0.63) earnings per share. The business’s quarterly revenue was down 50.1% compared to the same quarter last year. On average, sell-side analysts forecast that Intellia Therapeutics will post -2.73 earnings per share for the current fiscal year.

In other Intellia Therapeutics news, CEO John M. Leonard sold 38,209 shares of the stock in a transaction dated Thursday, April 1st. The stock was sold at an average price of $83.64, for a total value of $3,195,800.76. Following the completion of the transaction, the chief executive officer now directly owns 705,536 shares in the company, valued at $59,011,031.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jean Francois Formela sold 131,926 shares of the stock in a transaction dated Wednesday, April 28th. The shares were sold at an average price of $85.56, for a total value of $11,287,588.56. The disclosure for this sale can be found here. Insiders sold 228,896 shares of company stock worth $19,328,787 over the last ninety days. 5.10% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of NTLA. Janney Montgomery Scott LLC bought a new position in Intellia Therapeutics in the fourth quarter valued at about $463,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Intellia Therapeutics by 14.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,203 shares of the company’s stock valued at $337,000 after purchasing an additional 778 shares during the last quarter. First Trust Advisors LP bought a new position in shares of Intellia Therapeutics during the fourth quarter worth about $3,809,000. California Public Employees Retirement System raised its position in shares of Intellia Therapeutics by 0.8% during the fourth quarter. California Public Employees Retirement System now owns 114,234 shares of the company’s stock worth $6,214,000 after acquiring an additional 852 shares during the last quarter. Finally, Steel Peak Wealth Management LLC bought a new position in shares of Intellia Therapeutics during the fourth quarter worth about $348,000. Hedge funds and other institutional investors own 94.29% of the company’s stock.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc, a genome editing company, focuses on the development of therapeutics. It utilizes a biological tool known as the Clustered, Regularly Interspaced Short Palindromic Repeats/CRISPR associated 9 (CRISPR/Cas9) system. The company's in vivo programs include NTLA-2001, which is in Phase 1 clinical trial for the treatment of transthyretin amyloidosis; and NTLA-2002 for the treatment of hereditary angioedema, as well as other liver-focused programs comprising hemophilia A and hemophilia B, hyperoxaluria Type 1, and alpha-1 antitrypsin deficiency.

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