Intellia Therapeutics (NASDAQ:NTLA) Receives Neutral Rating from Wedbush

Wedbush reissued their neutral rating on shares of Intellia Therapeutics (NASDAQ:NTLA) in a research report sent to investors on Thursday,RTT News reports. They currently have a $14.00 price target on the stock.

Several other equities research analysts have also issued reports on the company. JPMorgan Chase & Co. decreased their target price on Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Evercore ISI raised shares of Intellia Therapeutics to a “strong-buy” rating in a research report on Friday, August 9th. Stifel Nicolaus decreased their price target on shares of Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Robert W. Baird dropped their price objective on Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Finally, The Goldman Sachs Group decreased their target price on Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Intellia Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $57.94.

Intellia Therapeutics Price Performance

NTLA opened at $16.73 on Thursday. Intellia Therapeutics has a 1 year low of $13.95 and a 1 year high of $34.87. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -3.08 and a beta of 1.81. The firm’s fifty day moving average price is $19.17 and its two-hundred day moving average price is $22.22.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) EPS for the quarter, beating the consensus estimate of ($1.37) by $0.03. The firm had revenue of $9.10 million during the quarter, compared to analysts’ expectations of $8.28 million. During the same quarter last year, the business posted ($1.38) EPS. The company’s quarterly revenue was down 24.1% on a year-over-year basis. As a group, equities analysts anticipate that Intellia Therapeutics will post -5.21 EPS for the current year.

Insiders Place Their Bets

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,012 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total value of $38,248.12. Following the transaction, the chief accounting officer now directly owns 47,012 shares in the company, valued at $893,698.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

A number of institutional investors have recently made changes to their positions in NTLA. Intech Investment Management LLC purchased a new stake in Intellia Therapeutics in the third quarter worth approximately $580,000. Grandfield & Dodd LLC bought a new stake in shares of Intellia Therapeutics in the 3rd quarter worth approximately $267,000. Jennison Associates LLC boosted its stake in shares of Intellia Therapeutics by 21.6% in the 3rd quarter. Jennison Associates LLC now owns 47,899 shares of the company’s stock valued at $984,000 after purchasing an additional 8,497 shares in the last quarter. LMR Partners LLP grew its holdings in shares of Intellia Therapeutics by 35.3% during the 3rd quarter. LMR Partners LLP now owns 71,100 shares of the company’s stock valued at $1,461,000 after purchasing an additional 18,533 shares during the last quarter. Finally, Quest Partners LLC raised its position in Intellia Therapeutics by 181.6% in the 3rd quarter. Quest Partners LLC now owns 19,748 shares of the company’s stock worth $406,000 after purchasing an additional 12,734 shares during the period. Institutional investors own 88.77% of the company’s stock.

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.