Intellia Therapeutics (NASDAQ:NTLA) Given Neutral Rating at Wedbush

Wedbush restated their neutral rating on shares of Intellia Therapeutics (NASDAQ:NTLA) in a research note released on Monday morning,Benzinga reports. They currently have a $14.00 target price on the stock.

Several other brokerages have also issued reports on NTLA. Royal Bank of Canada restated an “outperform” rating and set a $54.00 target price on shares of Intellia Therapeutics in a research report on Thursday, September 19th. Evercore ISI raised shares of Intellia Therapeutics to a “strong-buy” rating in a report on Friday, August 9th. Citigroup lowered their price target on shares of Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Barclays lowered their price target on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Finally, Chardan Capital lifted their price target on shares of Intellia Therapeutics from $88.00 to $91.00 and gave the company a “buy” rating in a report on Monday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Intellia Therapeutics has an average rating of “Moderate Buy” and an average target price of $53.88.

Intellia Therapeutics Trading Up 1.4 %

Shares of NTLA stock opened at $14.17 on Monday. The company has a 50 day moving average price of $18.64 and a 200-day moving average price 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 results on Thursday, November 7th. The company reported ($1.34) EPS for the quarter, topping analysts’ consensus estimates 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. During the same quarter in the prior year, the firm earned ($1.38) earnings per share. The business’s revenue was down 24.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Intellia Therapeutics will post -5.13 EPS for the current year.

Insider Buying and Selling at Intellia Therapeutics

In other news, CAO Michael P. Dube sold 2,012 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total value of $38,248.12. Following the transaction, the chief accounting officer now directly owns 47,012 shares in the company, valued at approximately $893,698.12. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. ARK Investment Management LLC grew its holdings in shares of Intellia Therapeutics by 5.7% in the third quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock worth $251,849,000 after purchasing an additional 659,651 shares during the last quarter. Vanguard Group Inc. lifted its stake in Intellia Therapeutics by 8.9% in the first quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock worth $250,168,000 after acquiring an additional 746,263 shares during the period. State Street Corp lifted its stake in Intellia Therapeutics by 17.9% in the third quarter. State Street Corp now owns 5,143,534 shares of the company’s stock worth $105,700,000 after acquiring an additional 780,754 shares during the period. Geode Capital Management LLC lifted its stake in Intellia Therapeutics by 2.2% in the third quarter. Geode Capital Management LLC now owns 2,343,310 shares of the company’s stock worth $48,164,000 after acquiring an additional 49,367 shares during the period. Finally, FMR LLC lifted its stake in Intellia Therapeutics by 5.0% in the third quarter. FMR LLC now owns 2,339,522 shares of the company’s stock worth $48,077,000 after acquiring an additional 111,104 shares during the period. 88.77% of the stock is currently owned by institutional investors.

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.