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

Intellia Therapeutics (NASDAQ:NTLA)‘s stock had its “neutral” rating restated by equities researchers at Wedbush in a report issued on Monday,Benzinga reports. They presently have a $14.00 price target on the stock. Wedbush’s target price suggests a potential upside of 0.65% from the company’s current price.

NTLA has been the subject of a number of other reports. The Goldman Sachs Group cut their price objective on Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Robert W. Baird reduced their price target on shares of Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Oppenheimer cut their price target on Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Stifel Nicolaus decreased their price objective on Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Finally, StockNews.com raised shares of Intellia Therapeutics to a “sell” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.80.

Intellia Therapeutics Price Performance

NTLA stock traded down $0.06 during midday trading on Monday, hitting $13.91. The stock had a trading volume of 2,678,379 shares, compared to its average volume of 1,685,642. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -2.58 and a beta of 1.81. The business has a 50-day moving average of $18.64 and a two-hundred day moving average of $22.04. Intellia Therapeutics has a 52-week low of $13.54 and a 52-week high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.03. The firm had revenue of $9.10 million during the quarter, compared to analysts’ expectations of $8.28 million. During the same quarter in the previous year, the firm earned ($1.38) earnings per share. Intellia Therapeutics’s revenue was down 24.1% on a year-over-year basis. Research analysts predict that Intellia Therapeutics will post -5.13 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Michael P. Dube sold 2,012 shares of Intellia Therapeutics stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total transaction of $38,248.12. Following the completion of the transaction, the chief accounting officer now owns 47,012 shares of the company’s stock, valued at $893,698.12. The trade was a 4.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 3.20% of the stock is owned by insiders.

Institutional Trading of Intellia Therapeutics

A number of large investors have recently made changes to their positions in the stock. Blue Trust Inc. raised its holdings in Intellia Therapeutics by 1,664.3% in the 2nd quarter. Blue Trust Inc. now owns 1,482 shares of the company’s stock valued at $33,000 after acquiring an additional 1,398 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Intellia Therapeutics by 763.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock valued at $39,000 after purchasing an additional 1,550 shares during the last quarter. Eastern Bank purchased a new position in Intellia Therapeutics during the third quarter worth about $41,000. First Horizon Advisors Inc. boosted its stake in Intellia Therapeutics by 22.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company’s stock worth $58,000 after buying an additional 472 shares during the last quarter. Finally, Values First Advisors Inc. purchased a new stake in Intellia Therapeutics in the 3rd quarter valued at about $54,000. Institutional investors and hedge funds 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.