Intellia Therapeutics (NASDAQ:NTLA) Given Buy Rating at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of Intellia Therapeutics (NASDAQ:NTLA) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $73.00 price target on the stock.

Several other brokerages also recently issued reports on NTLA. BMO Capital Markets boosted their target price on shares of Intellia Therapeutics from $62.00 to $70.00 and gave the company an outperform rating in a research note on Friday, May 10th. Truist Financial reissued a buy rating and set a $120.00 price target on shares of Intellia Therapeutics in a research report on Monday, June 24th. Citigroup decreased their price objective on Intellia Therapeutics from $31.00 to $29.00 and set a neutral rating for the company in a research report on Friday, May 10th. StockNews.com upgraded Intellia Therapeutics to a sell rating in a report on Thursday. Finally, Cantor Fitzgerald restated an overweight rating and set a $65.00 price target on shares of Intellia Therapeutics in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Intellia Therapeutics has a consensus rating of Moderate Buy and a consensus price target of $69.00.

Intellia Therapeutics Stock Down 3.5 %

NASDAQ:NTLA opened at $22.38 on Thursday. The stock has a fifty day simple moving average of $23.76 and a 200 day simple moving average of $26.31. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of -4.18 and a beta of 1.84. Intellia Therapeutics has a 1-year low of $19.37 and a 1-year high of $46.50.

Intellia Therapeutics (NASDAQ:NTLA) last announced its earnings results on Thursday, May 9th. The company reported ($1.06) EPS for the quarter, topping the consensus estimate of ($1.35) by $0.29. The company had revenue of $28.94 million during the quarter, compared to analysts’ expectations of $15.60 million. Intellia Therapeutics had a negative net margin of 893.34% and a negative return on equity of 45.35%. Equities analysts predict that Intellia Therapeutics will post -4.98 earnings per share for the current year.

Hedge Funds Weigh In On Intellia Therapeutics

Institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. acquired a new position in shares of Intellia Therapeutics during the 4th quarter valued at about $26,000. Signaturefd LLC boosted its position in Intellia Therapeutics by 89.3% during the fourth quarter. Signaturefd LLC now owns 1,592 shares of the company’s stock worth $49,000 after purchasing an additional 751 shares during the period. Daiwa Securities Group Inc. grew its holdings in Intellia Therapeutics by 35.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,056 shares of the company’s stock valued at $93,000 after purchasing an additional 793 shares during the last quarter. EntryPoint Capital LLC raised its position in shares of Intellia Therapeutics by 61.1% in the first quarter. EntryPoint Capital LLC now owns 4,122 shares of the company’s stock valued at $113,000 after purchasing an additional 1,563 shares during the period. Finally, Spire Wealth Management lifted its stake in shares of Intellia Therapeutics by 3,789.0% in the fourth quarter. Spire Wealth Management now owns 3,889 shares of the company’s stock worth $119,000 after buying an additional 3,789 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors.

About Intellia Therapeutics

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.