Intellia Therapeutics (NASDAQ:NTLA) Research Coverage Started at Barclays

Barclays assumed coverage on shares of Intellia Therapeutics (NASDAQ:NTLA) in a research report report published on Tuesday, Marketbeat reports. The firm issued an underweight rating and a $8.00 price target on the stock.

NTLA has been the topic of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intellia Therapeutics in a report on Friday, July 17th. Canaccord Genuity Group restated a “buy” rating and set a $49.00 price target on shares of Intellia Therapeutics in a research note on Tuesday, June 16th. Evercore upgraded shares of Intellia Therapeutics from a “hold” rating to an “outperform” rating and set a $24.00 price objective on the stock in a report on Friday, August 7th. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Intellia Therapeutics in a research note on Wednesday, September 9th. Finally, Wall Street Zen cut shares of Intellia Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $20.72.

Intellia Therapeutics Stock Performance

Shares of NASDAQ:NTLA opened at $12.60 on Tuesday. The business’s 50 day simple moving average is $12.18 and its two-hundred day simple moving average is $13.21. The firm has a market cap of $1.77 billion, a P/E ratio of -3.75 and a beta of 1.80. Intellia Therapeutics has a 52-week low of $7.95 and a 52-week high of $28.25.

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

Institutional Investors Weigh In On Intellia Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in Intellia Therapeutics during the second quarter worth about $260,721,000. Dimensional Fund Advisors LP grew its holdings in Intellia Therapeutics by 20.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,318,110 shares of the company’s stock valued at $29,709,000 after purchasing an additional 386,261 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Intellia Therapeutics during the 1st quarter worth $17,913,000. Bank of America Corp DE increased its stake in shares of Intellia Therapeutics by 11.2% in the first quarter. Bank of America Corp DE now owns 1,381,703 shares of the company’s stock worth $17,713,000 after purchasing an additional 139,325 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Intellia Therapeutics in the 2nd quarter valued at approximately $15,210,000. 88.77% of the stock is owned by hedge funds and other institutional investors.

About Intellia Therapeutics

Intellia Therapeutics, Inc is a biotechnology company focused on developing genome-editing therapies using CRISPR/Cas9 technology. The company is working to create treatments that can directly modify disease-causing genes, including through in vivo approaches in which the editing machinery is delivered into a patient’s body.

Its pipeline has included NTLA-2001, an investigational therapy designed to reduce production of transthyretin for the treatment of transthyretin amyloidosis, and NTLA-2002, an investigational program targeting kallikrein for hereditary angioedema.