Intellia Therapeutics (NASDAQ:NTLA) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Intellia Therapeutics (NASDAQ:NTLA) in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a $54.00 price target on the stock.

Several other analysts have also recently issued reports on NTLA. Cantor Fitzgerald reiterated an overweight rating and issued a $65.00 price objective on shares of Intellia Therapeutics in a research note on Monday, June 24th. Evercore ISI raised Intellia Therapeutics to a strong-buy rating in a research report on Friday, August 9th. Truist Financial reiterated a buy rating and issued a $120.00 price objective on shares of Intellia Therapeutics in a research note on Monday, June 24th. JPMorgan Chase & Co. cut their target price on shares of Intellia Therapeutics from $61.00 to $55.00 and set an overweight rating on the stock in a research note on Monday, August 12th. Finally, StockNews.com upgraded shares of Intellia Therapeutics to a sell rating in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Intellia Therapeutics presently has an average rating of Moderate Buy and an average price target of $61.77.

Intellia Therapeutics Trading Down 4.6 %

Shares of NTLA opened at $21.88 on Thursday. The company’s 50-day moving average price is $23.26 and its 200 day moving average price is $24.08. Intellia Therapeutics has a 12-month low of $19.21 and a 12-month high of $34.87. The firm has a market cap of $2.11 billion, a P/E ratio of -4.08 and a beta of 1.77.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.29). The firm had revenue of $7.00 million for the quarter, compared to analyst estimates of $19.68 million. During the same quarter last year, the business earned ($1.40) earnings per share. The business’s revenue for the quarter was down 48.5% on a year-over-year basis. Equities research analysts forecast that Intellia Therapeutics will post -5.19 earnings per share for the current 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. Vanguard Group Inc. grew its holdings in shares of Intellia Therapeutics by 8.9% during the first quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock worth $250,168,000 after purchasing an additional 746,263 shares during the last quarter. ARK Investment Management LLC grew its stake in Intellia Therapeutics by 5.5% during the 2nd quarter. ARK Investment Management LLC now owns 11,595,789 shares of the company’s stock worth $259,514,000 after buying an additional 606,507 shares during the last quarter. Norges Bank acquired a new position in Intellia Therapeutics during the fourth quarter worth approximately $16,348,000. Federated Hermes Inc. lifted its stake in Intellia Therapeutics by 19.2% in the second quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock valued at $51,494,000 after buying an additional 371,189 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Intellia Therapeutics in the fourth quarter valued at approximately $9,086,000. 88.77% of the stock is 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.