Intellia Therapeutics’ (NTLA) “Underweight” Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their underweight rating on shares of Intellia Therapeutics (NASDAQ:NTLA) in a report released on Friday, MarketBeat reports. The firm currently has a $5.00 price target on the stock, down from their previous price target of $12.00.

A number of other brokerages have also recently weighed in on NTLA. HC Wainwright set a $18.00 price target on shares of Intellia Therapeutics in a research note on Thursday, October 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intellia Therapeutics in a research note on Wednesday, October 8th. JMP Securities lowered their price target on Intellia Therapeutics from $33.00 to $29.00 and set a “market outperform” rating on the stock in a report on Tuesday, October 28th. Wedbush set a $9.00 price objective on Intellia Therapeutics in a research note on Thursday, October 30th. Finally, William Blair cut Intellia Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday, October 27th. Twelve equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $18.70.

Intellia Therapeutics Price Performance

Shares of NTLA traded up $0.23 during midday trading on Friday, reaching $9.75. 8,573,346 shares of the stock were exchanged, compared to its average volume of 5,130,363. Intellia Therapeutics has a twelve month low of $5.90 and a twelve month high of $28.25. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -2.29 and a beta of 2.45. The business’s 50-day moving average price is $17.19 and its 200 day moving average price is $12.53.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.92) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.10. Intellia Therapeutics had a negative return on equity of 57.01% and a negative net margin of 774.94%.The firm had revenue of $13.78 million for the quarter, compared to the consensus estimate of $14.12 million. During the same quarter last year, the business posted ($1.34) EPS. The firm’s quarterly revenue was up 51.6% compared to the same quarter last year. As a group, equities research analysts expect that Intellia Therapeutics will post -5.07 earnings per share for the current fiscal year.

Insider Activity at Intellia Therapeutics

In other Intellia Therapeutics news, Director William J. Chase acquired 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were purchased at an average price of $10.03 per share, with a total value of $1,003,000.00. Following the completion of the acquisition, the director directly owned 134,693 shares of the company’s stock, valued at approximately $1,350,970.79. The trade was a 288.24% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Michael P. Dube sold 1,871 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $17.38, for a total value of $32,517.98. Following the completion of the sale, the chief accounting officer directly owned 55,266 shares of the company’s stock, valued at approximately $960,523.08. This trade represents a 3.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC purchased a new stake in Intellia Therapeutics during the second quarter worth about $26,000. Blue Bell Private Wealth Management LLC acquired a new stake in shares of Intellia Therapeutics during the 3rd quarter valued at approximately $30,000. Whipplewood Advisors LLC boosted its stake in shares of Intellia Therapeutics by 114,900.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 3,450 shares of the company’s stock worth $32,000 after acquiring an additional 3,447 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Intellia Therapeutics by 56.4% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,590 shares of the company’s stock worth $33,000 after acquiring an additional 1,655 shares during the period. Finally, Harbour Investments Inc. increased its stake in Intellia Therapeutics by 76.7% in the 1st quarter. Harbour Investments Inc. now owns 5,214 shares of the company’s stock valued at $37,000 after purchasing an additional 2,264 shares in the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

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.