Intellia Therapeutics’ (NTLA) Buy Rating Reiterated at Truist Financial

Truist Financial reaffirmed their buy rating on shares of Intellia Therapeutics (NASDAQ:NTLA) in a report published on Monday morning, Benzinga reports. They currently have a $120.00 price objective on the stock.

Several other research firms have also recently issued reports on NTLA. Wedbush reissued a neutral rating and set a $29.00 target price on shares of Intellia Therapeutics in a research note on Tuesday, April 23rd. Cantor Fitzgerald reaffirmed an overweight rating and issued a $65.00 price target on shares of Intellia Therapeutics in a research note on Tuesday, June 18th. BMO Capital Markets upped their price target on Intellia Therapeutics from $62.00 to $70.00 and gave the stock an outperform rating in a research note on Friday, May 10th. StockNews.com raised Intellia Therapeutics to a sell rating in a research note on Friday, May 10th. Finally, Citigroup reduced their price target on Intellia Therapeutics from $31.00 to $29.00 and set a neutral rating on the stock in a research note on Friday, May 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Intellia Therapeutics has a consensus rating of Moderate Buy and a consensus price target of $69.00.

Intellia Therapeutics Stock Performance

NTLA opened at $22.91 on Monday. Intellia Therapeutics has a 52-week low of $19.37 and a 52-week high of $46.50. The stock has a market capitalization of $2.21 billion, a PE ratio of -4.27 and a beta of 1.84. The stock’s 50 day moving average price is $23.70 and its 200-day moving average price is $26.38.

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

Institutional Investors Weigh In On Intellia Therapeutics

Several hedge funds have recently added to or reduced their stakes in NTLA. Avidity Partners Management LP lifted its holdings in shares of Intellia Therapeutics by 18.0% during the fourth quarter. Avidity Partners Management LP now owns 447,434 shares of the company’s stock valued at $13,642,000 after purchasing an additional 68,334 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Intellia Therapeutics by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 700,228 shares of the company’s stock valued at $21,350,000 after purchasing an additional 18,987 shares in the last quarter. ARK Investment Management LLC lifted its holdings in shares of Intellia Therapeutics by 14.7% during the fourth quarter. ARK Investment Management LLC now owns 11,412,449 shares of the company’s stock valued at $347,966,000 after purchasing an additional 1,463,820 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Intellia Therapeutics by 5.9% during the third quarter. American Century Companies Inc. now owns 267,213 shares of the company’s stock valued at $8,449,000 after purchasing an additional 14,863 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Intellia Therapeutics by 13.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 36,225 shares of the company’s stock valued at $1,104,000 after purchasing an additional 4,255 shares in the last quarter. 88.77% of the stock is 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.