Intellia Therapeutics’ (NTLA) “Neutral” Rating Reaffirmed at Wedbush

Wedbush reaffirmed their neutral rating on shares of Intellia Therapeutics (NASDAQ:NTLA) in a research report report published on Tuesday, Benzinga reports. They currently have a $29.00 price target on the stock.

A number of other research analysts have also recently weighed in on NTLA. Canaccord Genuity Group boosted their target price on shares of Intellia Therapeutics from $72.00 to $73.00 and gave the company a buy rating in a research note on Friday, February 23rd. Wolfe Research initiated coverage on shares of Intellia Therapeutics in a research note on Thursday, February 15th. They issued a peer perform rating on the stock. Finally, The Goldman Sachs Group cut shares of Intellia Therapeutics from a buy rating to a neutral rating and dropped their target price for the company from $136.00 to $32.00 in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $67.00.

Intellia Therapeutics Price Performance

NASDAQ:NTLA opened at $21.53 on Tuesday. The firm has a 50-day moving average of $26.96 and a 200-day moving average of $27.72. The company has a market cap of $2.08 billion, a PE ratio of -3.98 and a beta of 1.77. Intellia Therapeutics has a one year low of $20.78 and a one year high of $47.48.

Intellia Therapeutics (NASDAQ:NTLA) last posted its earnings results on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, topping the consensus estimate of ($1.47) by $0.01. Intellia Therapeutics had a negative net margin of 893.34% and a negative return on equity of 43.91%. The company had revenue of ($1.92) million during the quarter, compared to the consensus estimate of $15.10 million. During the same period in the previous year, the firm posted ($1.40) earnings per share. On average, equities research analysts expect that Intellia Therapeutics will post -5.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP James Basta sold 2,297 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $32.99, for a total transaction of $75,778.03. Following the sale, the executive vice president now owns 81,571 shares of the company’s stock, valued at approximately $2,691,027.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.00% of the stock is currently owned by insiders.

Institutional Trading of Intellia Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Los Angeles Capital Management LLC increased its holdings in Intellia Therapeutics by 3.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 11,695 shares of the company’s stock worth $357,000 after acquiring an additional 422 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Intellia Therapeutics by 7.3% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,651 shares of the company’s stock worth $210,000 after buying an additional 451 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Intellia Therapeutics by 1.8% in the 3rd quarter. Victory Capital Management Inc. now owns 27,316 shares of the company’s stock worth $864,000 after buying an additional 470 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Intellia Therapeutics by 7.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 8,144 shares of the company’s stock worth $248,000 after buying an additional 582 shares during the last quarter. Finally, Axxcess Wealth Management LLC increased its holdings in shares of Intellia Therapeutics by 4.0% in the 4th quarter. Axxcess Wealth Management LLC now owns 15,592 shares of the company’s stock worth $475,000 after buying an additional 594 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

Intellia Therapeutics Company Profile

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.