Wedbush Reaffirms “Neutral” Rating for Intellia Therapeutics (NASDAQ:NTLA)

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

Several other analysts also recently issued reports on NTLA. Wolfe Research assumed coverage on Intellia Therapeutics in a research note on Thursday, February 15th. They set a peer perform rating on the stock. The Goldman Sachs Group downgraded Intellia Therapeutics from a buy rating to a neutral rating and decreased their target price for the company from $136.00 to $32.00 in a research note on Friday, February 23rd. Finally, Canaccord Genuity Group lifted their target price on Intellia Therapeutics from $72.00 to $73.00 and gave the company a buy rating 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 assigned a buy rating to the company. Based on data from MarketBeat, Intellia Therapeutics has a consensus rating of Moderate Buy and a consensus price target of $67.00.

Intellia Therapeutics Stock Down 5.4 %

NTLA stock opened at $20.02 on Tuesday. Intellia Therapeutics has a twelve month low of $19.64 and a twelve month high of $47.48. The business’s 50-day moving average price is $26.64 and its 200-day moving average price is $27.62.

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

Insider Activity

In other news, EVP James Basta sold 2,297 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $32.99, for a total transaction of $75,778.03. Following the transaction, 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 filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Intellia Therapeutics

Hedge funds have recently made changes to their positions in the company. Blue Trust Inc. purchased a new stake in shares of Intellia Therapeutics in the 4th quarter worth $26,000. Signaturefd LLC lifted its stake in shares of Intellia Therapeutics by 89.3% during the 4th quarter. Signaturefd LLC now owns 1,592 shares of the company’s stock worth $49,000 after purchasing an additional 751 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Intellia Therapeutics by 95.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,263 shares of the company’s stock worth $72,000 after purchasing an additional 1,108 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Intellia Therapeutics by 35.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,056 shares of the company’s stock worth $93,000 after purchasing an additional 793 shares during the last quarter. Finally, Spire Wealth Management lifted its stake in shares of Intellia Therapeutics by 3,789.0% during the 4th quarter. Spire Wealth Management now owns 3,889 shares of the company’s stock worth $119,000 after purchasing an additional 3,789 shares during the last quarter. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

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.