Canaccord Genuity Group Reaffirms “Buy” Rating for Intellia Therapeutics (NASDAQ:NTLA)

Canaccord Genuity Group reissued their buy rating on shares of Intellia Therapeutics (NASDAQ:NTLA) in a report issued on Thursday morning, Benzinga reports. The brokerage currently has a $73.00 price target on the stock.

A number of other equities analysts have also weighed in on NTLA. Wedbush reissued a neutral rating and issued a $29.00 price objective on shares of Intellia Therapeutics in a research report on Tuesday, April 23rd. StockNews.com raised Intellia Therapeutics to a sell rating in a research note on Thursday. BMO Capital Markets raised their price objective on Intellia Therapeutics from $62.00 to $70.00 and gave the stock an outperform rating in a report on Friday, May 10th. Citigroup dropped their target price on Intellia Therapeutics from $31.00 to $29.00 and set a neutral rating for the company in a research note on Friday, May 10th. Finally, Truist Financial reissued a buy rating and issued a $120.00 price target on shares of Intellia Therapeutics in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $69.00.

Intellia Therapeutics Stock Performance

NTLA stock opened at $22.38 on Thursday. The stock’s 50 day moving average price is $23.76 and its 200 day moving average price is $26.31. The firm has a market cap of $2.16 billion, a P/E 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 issued its quarterly earnings data 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. The business had revenue of $28.94 million for the quarter, compared to the consensus estimate of $15.60 million. Intellia Therapeutics had a negative return on equity of 45.35% and a negative net margin of 893.34%. On average, research analysts predict that Intellia Therapeutics will post -4.98 earnings per share for the current year.

Hedge Funds Weigh In On Intellia Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in NTLA. Opaleye Management Inc. increased its holdings in Intellia Therapeutics by 157.6% in the 1st quarter. Opaleye Management Inc. now owns 255,000 shares of the company’s stock valued at $7,015,000 after purchasing an additional 156,000 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Intellia Therapeutics in the first quarter valued at about $802,000. Comerica Bank raised its holdings in shares of Intellia Therapeutics by 853.6% during the 1st quarter. Comerica Bank now owns 37,105 shares of the company’s stock valued at $1,021,000 after buying an additional 33,214 shares during the period. Bayesian Capital Management LP acquired a new position in Intellia Therapeutics during the 1st quarter worth approximately $303,000. Finally, Axxcess Wealth Management LLC boosted its holdings in Intellia Therapeutics by 6.5% in the 1st quarter. Axxcess Wealth Management LLC now owns 16,602 shares of the company’s stock worth $457,000 after acquiring an additional 1,010 shares during the period. Institutional investors and hedge funds 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.