Intellia Therapeutics, Inc. (NASDAQ:NTLA) Receives $61.77 Average PT from Brokerages

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) have been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $61.77.

A number of research analysts have recently issued reports on NTLA shares. Canaccord Genuity Group restated a “buy” rating and issued a $73.00 price target on shares of Intellia Therapeutics in a research report on Thursday, June 27th. Evercore ISI raised shares of Intellia Therapeutics to a “strong-buy” rating in a research report on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $54.00 price target on shares of Intellia Therapeutics in a report on Thursday, September 19th. Stifel Nicolaus dropped their price objective on Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Finally, StockNews.com upgraded Intellia Therapeutics to a “sell” rating in a research report on Thursday, June 27th.

Intellia Therapeutics Stock Down 6.6 %

Shares of NTLA opened at $19.20 on Friday. The business has a 50-day simple moving average of $22.64 and a two-hundred day simple moving average of $23.74. The stock has a market cap of $1.85 billion, a PE ratio of -3.58 and a beta of 1.77. Intellia Therapeutics has a 12-month low of $18.96 and a 12-month high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last announced its earnings results on Thursday, August 8th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.29). The company had revenue of $7.00 million during the quarter, compared to analyst estimates of $19.68 million. During the same period in the prior year, the company posted ($1.40) earnings per share. The firm’s revenue was down 48.5% compared to the same quarter last year. On average, equities research analysts expect that Intellia Therapeutics will post -5.22 EPS for the current year.

Hedge Funds Weigh In On Intellia Therapeutics

A number of large investors have recently modified their holdings of NTLA. Vanguard Group Inc. boosted its stake in Intellia Therapeutics by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock valued at $250,168,000 after purchasing an additional 746,263 shares during the last quarter. ARK Investment Management LLC boosted its position in Intellia Therapeutics by 5.5% in the second quarter. ARK Investment Management LLC now owns 11,595,789 shares of the company’s stock worth $259,514,000 after purchasing an additional 606,507 shares during the last quarter. Norges Bank bought a new position in Intellia Therapeutics during the fourth quarter valued at about $16,348,000. Federated Hermes Inc. grew its position in shares of Intellia Therapeutics by 19.2% during the 2nd quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock valued at $51,494,000 after acquiring an additional 371,189 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Intellia Therapeutics during the fourth quarter valued at $9,086,000. 88.77% of the stock is currently 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.