Wedbush Reiterates Neutral Rating for Intellia Therapeutics (NASDAQ:NTLA)

Wedbush reiterated their neutral rating on shares of Intellia Therapeutics (NASDAQ:NTLA) in a report released on Friday morning,RTT News reports. They currently have a $10.00 price objective on the stock, down from their previous price objective of $14.00.

NTLA has been the subject of a number of other research reports. Chardan Capital upped their price target on Intellia Therapeutics from $88.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Robert W. Baird reduced their target price on Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, October 25th. The Goldman Sachs Group reduced their target price on Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Barclays cut their price target on Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Finally, William Blair reaffirmed a “neutral” rating and issued a $14.00 price target on shares of Intellia Therapeutics in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.81.

Intellia Therapeutics Stock Down 15.1 %

Shares of NTLA stock opened at $10.20 on Friday. The stock has a market cap of $1.04 billion, a PE ratio of -1.87 and a beta of 1.83. Intellia Therapeutics has a 52-week low of $9.93 and a 52-week high of $34.87. The business has a 50-day simple moving average of $13.77 and a 200-day simple moving average of $18.99.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.03. The business had revenue of $9.10 million during the quarter, compared to analyst estimates of $8.28 million. The business’s revenue for the quarter was down 24.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.38) EPS. Sell-side analysts anticipate that Intellia Therapeutics will post -5.12 earnings per share for the current fiscal year.

Insider Transactions at Intellia Therapeutics

In related news, CEO John M. Leonard sold 26,807 shares of Intellia Therapeutics stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $12.18, for a total value of $326,509.26. Following the completion of the transaction, the chief executive officer now directly owns 941,115 shares in the company, valued at approximately $11,462,780.70. This trade represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 28,735 shares of company stock worth $349,909 over the last ninety days. Company insiders own 3.20% of the company’s stock.

Institutional Trading of Intellia Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp raised its stake in Intellia Therapeutics by 17.9% in the third quarter. State Street Corp now owns 5,143,534 shares of the company’s stock valued at $105,700,000 after buying an additional 780,754 shares in the last quarter. Patient Square Capital LP acquired a new position in Intellia Therapeutics in the 3rd quarter valued at about $2,642,000. Dimensional Fund Advisors LP increased its position in Intellia Therapeutics by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,324,561 shares of the company’s stock valued at $29,648,000 after acquiring an additional 98,865 shares during the period. Charles Schwab Investment Management Inc. increased its position in Intellia Therapeutics by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 827,545 shares of the company’s stock valued at $17,006,000 after acquiring an additional 37,714 shares during the period. Finally, Verition Fund Management LLC increased its position in Intellia Therapeutics by 116.3% in the 3rd quarter. Verition Fund Management LLC now owns 94,426 shares of the company’s stock valued at $1,940,000 after acquiring an additional 50,763 shares during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.