Intellia Therapeutics, Inc. (NASDAQ:NTLA) Receives Consensus Rating of “Buy” from Brokerages

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) have been assigned a consensus recommendation of “Buy” from the nineteen brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and fifteen have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $150.38.

Several analysts have recently commented on NTLA shares. Oppenheimer upped their price objective on shares of Intellia Therapeutics from $125.00 to $160.00 and gave the company a “market perform” rating in a report on Friday, August 6th. Jefferies Financial Group upped their target price on Intellia Therapeutics from $83.00 to $109.00 and gave the company a “buy” rating in a research report on Tuesday, June 22nd. Truist boosted their price target on shares of Intellia Therapeutics from $80.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, June 28th. Wedbush upped their target price on Intellia Therapeutics from $73.00 to $87.00 and gave the stock a “neutral” rating in a research report on Monday, June 28th. They noted that the move was a valuation call. Finally, Barclays upped their price objective on Intellia Therapeutics from $88.00 to $134.00 and gave the stock an “overweight” rating in a report on Monday, June 28th.

Shares of NASDAQ:NTLA traded down $8.17 during midday trading on Thursday, reaching $139.41. The company had a trading volume of 965,955 shares, compared to its average volume of 1,670,608. The firm has a market cap of $10.24 billion, a price-to-earnings ratio of -51.60 and a beta of 2.14. The company has a fifty day simple moving average of $153.50 and a two-hundred day simple moving average of $109.97. Intellia Therapeutics has a 1-year low of $18.81 and a 1-year high of $202.73.

Intellia Therapeutics (NASDAQ:NTLA) last issued its earnings results on Thursday, August 5th. The company reported ($1.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.61) by ($0.40). The business had revenue of $6.55 million during the quarter, compared to analyst estimates of $12.21 million. Intellia Therapeutics had a negative net margin of 442.58% and a negative return on equity of 39.01%. The company’s revenue for the quarter was down 59.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.61) EPS. As a group, sell-side analysts forecast that Intellia Therapeutics will post -3.12 earnings per share for the current fiscal year.

In other Intellia Therapeutics news, CFO Glenn Goddard sold 3,482 shares of the stock in a transaction that occurred on Tuesday, September 7th. The shares were sold at an average price of $180.12, for a total transaction of $627,177.84. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP David Lebwohl sold 2,400 shares of the firm’s stock in a transaction on Monday, August 9th. The shares were sold at an average price of $164.05, for a total transaction of $393,720.00. Following the sale, the executive vice president now directly owns 3,191 shares of the company’s stock, valued at $523,483.55. The disclosure for this sale can be found here. Over the last quarter, insiders sold 282,303 shares of company stock worth $44,075,415. Company insiders own 3.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its holdings in shares of Intellia Therapeutics by 2.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 30,700 shares of the company’s stock worth $2,464,000 after purchasing an additional 718 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Intellia Therapeutics by 12.7% in the first quarter. Victory Capital Management Inc. now owns 40,095 shares of the company’s stock valued at $3,218,000 after buying an additional 4,503 shares in the last quarter. Commonwealth Equity Services LLC raised its position in Intellia Therapeutics by 0.8% in the first quarter. Commonwealth Equity Services LLC now owns 24,758 shares of the company’s stock valued at $1,986,000 after purchasing an additional 199 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Intellia Therapeutics by 46.8% during the first quarter. Envestnet Asset Management Inc. now owns 22,641 shares of the company’s stock worth $1,817,000 after acquiring an additional 7,213 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Intellia Therapeutics by 48.0% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,400 shares of the company’s stock worth $835,000 after purchasing an additional 3,374 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc is a clinical stage genome editing company, which engages in the development of curative therapeutics using the CRISPR/Cas9 system. Its CRISPR/Cas9 system transforms medicine by both producing therapeutics that permanently edit and/or correct disease-associated genes in the human body with a single treatment course, and creates engineered cells that can treat oncological and immunological diseases.

Further Reading: Death Cross

Analyst Recommendations for Intellia Therapeutics (NASDAQ:NTLA)

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