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

Intellia Therapeutics (NASDAQ:NTLA)‘s stock had its “neutral” rating reissued by research analysts at Wedbush in a note issued to investors on Friday,RTT News reports. They presently have a $10.00 price objective on the stock, down from their previous price objective of $14.00. Wedbush’s target price would indicate a potential downside of 1.96% from the company’s current price.

A number of other equities analysts have also commented on the company. 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. Oppenheimer dropped their price target on Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. The Goldman Sachs Group reduced their price objective 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. Canaccord Genuity Group restated a “buy” rating and issued a $90.00 price objective on shares of Intellia Therapeutics in a research note on Tuesday, November 19th. Finally, StockNews.com upgraded shares of Intellia Therapeutics to a “sell” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $52.81.

Intellia Therapeutics Trading Down 15.1 %

Intellia Therapeutics stock traded down $1.82 during trading hours on Friday, reaching $10.20. 7,215,488 shares of the company were exchanged, compared to its average volume of 3,277,925. Intellia Therapeutics has a 12 month low of $9.93 and a 12 month high of $34.87. The stock has a 50-day moving average of $13.87 and a 200 day moving average of $19.10. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -1.87 and a beta of 1.83.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.37) by $0.03. The firm had revenue of $9.10 million for the quarter, compared to the consensus estimate of $8.28 million. Intellia Therapeutics’s quarterly revenue was down 24.1% on a year-over-year basis. During the same period in the prior year, the company posted ($1.38) earnings per share. As a group, research analysts forecast that Intellia Therapeutics will post -5.12 EPS for the current year.

Insider Buying and Selling at Intellia Therapeutics

In other news, CEO John M. Leonard sold 26,807 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 941,115 shares of the company’s stock, valued at $11,462,780.70. The trade was a 2.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 28,735 shares of company stock worth $349,909 over the last three months. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Intellia Therapeutics

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