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

Intellia Therapeutics (NASDAQ:NTLA)‘s stock had its “neutral” rating restated by stock analysts at Wedbush in a research note issued to investors on Monday,RTT News reports. They presently have a $7.00 price target on the stock. Wedbush’s target price would indicate a potential downside of 21.08% from the company’s previous close.

Several other equities analysts also recently issued reports on the stock. Wall Street Zen raised shares of Intellia Therapeutics to a “sell” rating in a research note on Monday, March 3rd. The Goldman Sachs Group restated a “sell” rating and set a $9.00 price objective on shares of Intellia Therapeutics in a report on Friday, February 28th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $13.00 target price (down from $45.00) on shares of Intellia Therapeutics in a research note on Friday, February 28th. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Intellia Therapeutics in a research report on Monday. Finally, Wolfe Research upgraded shares of Intellia Therapeutics from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a report on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.95.

Intellia Therapeutics Stock Performance

NTLA stock traded up $0.56 on Monday, reaching $8.87. The company had a trading volume of 2,988,969 shares, compared to its average volume of 2,820,918. The company’s fifty day moving average is $8.09 and its 200 day moving average is $9.79. The company has a market cap of $918.78 million, a P/E ratio of -1.63 and a beta of 2.14. Intellia Therapeutics has a 1 year low of $5.90 and a 1 year high of $28.18.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($1.10) EPS for the quarter, beating analysts’ consensus estimates of ($1.26) by $0.16. The company had revenue of $16.63 million for the quarter, compared to analyst estimates of $11.39 million. During the same period in the previous year, the business earned ($1.12) EPS. The firm’s revenue was down 42.6% on a year-over-year basis. On average, sell-side analysts predict that Intellia Therapeutics will post -5.07 earnings per share for the current year.

Institutional Trading of Intellia Therapeutics

Hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC bought a new stake in shares of Intellia Therapeutics in the 4th quarter worth about $185,000. Allspring Global Investments Holdings LLC increased its holdings in Intellia Therapeutics by 14.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,863 shares of the company’s stock valued at $157,000 after buying an additional 1,582 shares during the last quarter. Rhumbline Advisers raised its stake in Intellia Therapeutics by 2.1% during the fourth quarter. Rhumbline Advisers now owns 166,248 shares of the company’s stock valued at $1,938,000 after buying an additional 3,499 shares in the last quarter. LMG Wealth Partners LLC bought a new position in Intellia Therapeutics during the 4th quarter worth approximately $130,000. Finally, Handelsbanken Fonder AB lifted its holdings in Intellia Therapeutics by 7.1% during the 4th quarter. Handelsbanken Fonder AB now owns 34,700 shares of the company’s stock worth $405,000 after buying an additional 2,300 shares during the last quarter. 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.