Intellia Therapeutics (NASDAQ:NTLA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Intellia Therapeutics (NASDAQ:NTLA) from a sell rating to a hold rating in a report published on Saturday.

Several other brokerages have also issued reports on NTLA. Bank of America reaffirmed a “neutral” rating on shares of Intellia Therapeutics in a report on Monday, March 2nd. HC Wainwright increased their price objective on shares of Intellia Therapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Intellia Therapeutics in a research report on Thursday, January 22nd. Barclays lowered their price target on shares of Intellia Therapeutics from $24.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, November 7th. Finally, Citizens Jmp increased their price target on Intellia Therapeutics from $21.00 to $28.00 and gave the company a “market outperform” rating in a research note on Tuesday, March 3rd. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Intellia Therapeutics has an average rating of “Hold” and a consensus price target of $19.59.

Intellia Therapeutics Stock Up 3.3%

NASDAQ:NTLA opened at $13.89 on Friday. Intellia Therapeutics has a twelve month low of $5.90 and a twelve month high of $28.25. The stock’s 50-day simple moving average is $12.42 and its 200 day simple moving average is $13.19. The firm has a market capitalization of $1.64 billion, a PE ratio of -3.63 and a beta of 2.09.

Intellia Therapeutics (NASDAQ:NTLA) last issued its earnings results on Thursday, February 26th. The company reported ($0.83) EPS for the quarter, topping the consensus estimate of ($0.99) by $0.16. The firm had revenue of $23.02 million during the quarter, compared to the consensus estimate of $12.17 million. Intellia Therapeutics had a negative return on equity of 56.81% and a negative net margin of 609.85%.The business’s quarterly revenue was up 78.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.27) earnings per share. On average, analysts anticipate that Intellia Therapeutics will post -5.07 EPS for the current fiscal year.

Insider Buying and Selling

In other Intellia Therapeutics news, CEO John M. Leonard sold 34,146 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $9.21, for a total transaction of $314,484.66. Following the sale, the chief executive officer directly owned 1,013,339 shares of the company’s stock, valued at $9,332,852.19. The trade was a 3.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Birgit C. Schultes sold 8,508 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $9.21, for a total transaction of $78,358.68. Following the completion of the transaction, the executive vice president owned 98,533 shares of the company’s stock, valued at approximately $907,488.93. This trade represents a 7.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 53,051 shares of company stock worth $488,600 in the last ninety days. Company insiders own 3.10% of the company’s stock.

Institutional Trading of Intellia Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Contrarius Group Holdings Ltd lifted its holdings in Intellia Therapeutics by 279.4% during the 3rd quarter. Contrarius Group Holdings Ltd now owns 5,889,936 shares of the company’s stock worth $101,719,000 after buying an additional 4,337,428 shares during the period. ARK Investment Management LLC increased its stake in shares of Intellia Therapeutics by 19.2% in the fourth quarter. ARK Investment Management LLC now owns 14,207,324 shares of the company’s stock valued at $127,724,000 after buying an additional 2,288,146 shares during the period. Vanguard Group Inc. raised its position in shares of Intellia Therapeutics by 17.8% during the fourth quarter. Vanguard Group Inc. now owns 13,010,001 shares of the company’s stock worth $116,960,000 after acquiring an additional 1,965,181 shares during the last quarter. State Street Corp raised its position in shares of Intellia Therapeutics by 29.1% during the fourth quarter. State Street Corp now owns 6,418,836 shares of the company’s stock worth $57,705,000 after acquiring an additional 1,447,967 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of Intellia Therapeutics in the third quarter worth approximately $23,519,000. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc (NASDAQ: NTLA) is a clinical‐stage biotechnology company focused on developing potentially curative genome editing therapies using the CRISPR/Cas9 platform. The company’s research spans both in vivo and ex vivo applications of CRISPR/Cas9, aiming to correct or disable disease‐causing genes with a single administration. Intellia’s lead in vivo program targets transthyretin amyloidosis (ATTR) by delivering CRISPR/Cas9 machinery directly to the liver, while additional preclinical efforts pursue treatments for hemophilia A, hereditary angioedema and other genetic disorders.

Beyond its in vivo pipeline, Intellia collaborates with strategic partners to extend the impact of its genome editing approach.