Intellia Therapeutics (NASDAQ:NTLA) Receives Neutral Rating from Wedbush

Wedbush reiterated their neutral rating on shares of Intellia Therapeutics (NASDAQ:NTLA) in a research report released on Friday morning,RTT News reports. Wedbush currently has a $10.00 price objective on the stock, down from their prior price objective of $14.00.

Other equities research analysts have also issued reports about the company. Wells Fargo & Company decreased their price target on Intellia Therapeutics from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday. Canaccord Genuity Group reissued a “buy” rating and set a $90.00 price target on shares of Intellia Therapeutics in a research note on Tuesday, November 19th. Robert W. Baird decreased their price target on Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. The Goldman Sachs Group decreased their price target 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. Finally, BMO Capital Markets reduced their price objective on Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.81.

Intellia Therapeutics Price Performance

NASDAQ:NTLA opened at $10.20 on Friday. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -1.87 and a beta of 1.83. Intellia Therapeutics has a 1 year low of $9.93 and a 1 year high of $34.87. The business has a 50 day simple moving average of $13.77 and a 200-day simple moving average of $18.99.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.37) by $0.03. The company had revenue of $9.10 million during the quarter, compared to the consensus estimate of $8.28 million. Intellia Therapeutics’s revenue for the quarter was down 24.1% on a year-over-year basis. During the same period in the previous year, the business earned ($1.38) earnings per share. As a group, analysts expect that Intellia Therapeutics will post -5.12 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO John M. Leonard sold 26,807 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $12.18, for a total transaction of $326,509.26. Following the transaction, the chief executive officer now directly owns 941,115 shares in the company, valued at $11,462,780.70. The trade was a 2.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 28,735 shares of company stock worth $349,909. 3.20% of the stock is currently owned by company insiders.

Institutional Trading of Intellia Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NTLA. Rhumbline Advisers lifted its position in Intellia Therapeutics by 5.3% during the 2nd quarter. Rhumbline Advisers now owns 175,335 shares of the company’s stock worth $3,924,000 after acquiring an additional 8,797 shares during the period. Arizona State Retirement System lifted its position in Intellia Therapeutics by 9.7% during the 2nd quarter. Arizona State Retirement System now owns 25,648 shares of the company’s stock worth $574,000 after acquiring an additional 2,267 shares during the period. American Century Companies Inc. lifted its position in Intellia Therapeutics by 23.8% during the 2nd quarter. American Century Companies Inc. now owns 330,514 shares of the company’s stock worth $7,397,000 after acquiring an additional 63,550 shares during the period. Federated Hermes Inc. lifted its position in Intellia Therapeutics by 19.2% during the 2nd quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock worth $51,494,000 after acquiring an additional 371,189 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Intellia Therapeutics by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,324,561 shares of the company’s stock worth $29,648,000 after acquiring an additional 98,865 shares during the period. Institutional investors and hedge funds own 88.77% of the company’s stock.

About Intellia Therapeutics

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.