Intellia Therapeutics (NASDAQ:NTLA) Stock Price Expected to Rise, Wedbush Analyst Says

Intellia Therapeutics (NASDAQ:NTLA) had its target price lifted by stock analysts at Wedbush from $12.00 to $13.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Wedbush’s price objective would suggest a potential upside of 2.04% from the company’s current price.

Several other research analysts have also recently commented on NTLA. Wall Street Zen cut Intellia Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. New Street Research set a $25.00 price target on shares of Intellia Therapeutics in a report on Monday, June 15th. Canaccord Genuity Group restated a “buy” rating and issued a $49.00 price objective on shares of Intellia Therapeutics in a research note on Tuesday, June 16th. Evercore raised shares of Intellia Therapeutics from a “hold” rating to an “outperform” rating and set a $24.00 price objective for the company in a report on Friday, August 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Intellia Therapeutics in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, Intellia Therapeutics presently has a consensus rating of “Hold” and an average target price of $20.98.

Intellia Therapeutics Stock Performance

Shares of NTLA stock opened at $12.74 on Wednesday. The stock has a 50 day moving average of $12.78 and a two-hundred day moving average of $13.42. Intellia Therapeutics has a 12 month low of $7.95 and a 12 month high of $28.25. The company has a market capitalization of $1.79 billion, a P/E ratio of -3.79 and a beta of 1.82.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.80) earnings per share for the quarter, hitting the consensus estimate of ($0.80). The company had revenue of $7.66 million for the quarter, compared to analyst estimates of $12.98 million. Intellia Therapeutics had a negative return on equity of 57.79% and a negative net margin of 672.16%.Intellia Therapeutics’s revenue for the quarter was down 46.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.98) EPS. Sell-side analysts predict that Intellia Therapeutics will post -3.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,641 shares of Intellia Therapeutics stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $16.78, for a total transaction of $44,315.98. Following the completion of the transaction, the chief accounting officer directly owned 66,886 shares of the company’s stock, valued at approximately $1,122,347.08. This trade represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Edward J. Dulac III sold 4,677 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $18.00, for a total transaction of $84,186.00. Following the completion of the sale, the executive vice president owned 156,286 shares in the company, valued at $2,813,148. This represents a 2.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NTLA. Comerica Bank grew its stake in Intellia Therapeutics by 45.8% during the fourth quarter. Comerica Bank now owns 2,869 shares of the company’s stock worth $26,000 after buying an additional 901 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Intellia Therapeutics by 36.4% in the first quarter. PNC Financial Services Group Inc. now owns 3,552 shares of the company’s stock valued at $46,000 after acquiring an additional 948 shares during the last quarter. Wealthfront Advisers LLC raised its stake in shares of Intellia Therapeutics by 7.6% in the first quarter. Wealthfront Advisers LLC now owns 14,450 shares of the company’s stock valued at $185,000 after acquiring an additional 1,018 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Intellia Therapeutics by 2.7% in the 2nd quarter. Wellington Management Group LLP now owns 43,484 shares of the company’s stock worth $736,000 after acquiring an additional 1,125 shares in the last quarter. Finally, Benjamin Edwards Inc. boosted its holdings in shares of Intellia Therapeutics by 1.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 63,034 shares of the company’s stock worth $591,000 after acquiring an additional 1,126 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

About Intellia Therapeutics

Intellia Therapeutics, Inc (NASDAQ: NTLA) is a clinical?stage biotechnology company focused on developing potentially curative genome editing therapies using the CRISPR/Cas9 platform. The company’s research spans both in vivo and ex vivo applications of CRISPR/Cas9, aiming to correct or disable disease?causing genes with a single administration. Intellia’s lead in vivo program targets transthyretin amyloidosis (ATTR) by delivering CRISPR/Cas9 machinery directly to the liver, while additional preclinical efforts pursue treatments for hemophilia A, hereditary angioedema and other genetic disorders.

Beyond its in vivo pipeline, Intellia collaborates with strategic partners to extend the impact of its genome editing approach.