Intellia Therapeutics (NASDAQ:NTLA) Price Target Raised to $13.00

Intellia Therapeutics (NASDAQ:NTLA) had its price target upped by Wedbush from $12.00 to $13.00 in a research report released on Wednesday, Marketbeat reports. They currently have a neutral rating on the stock.

NTLA has been the subject of several other reports. Evercore upgraded Intellia Therapeutics from a “hold” rating to an “outperform” rating and set a $24.00 target price for the company in a research note on Friday, August 7th. New Street Research set a $25.00 price target on Intellia Therapeutics in a report on Monday, June 15th. HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of Intellia Therapeutics in a research note on Wednesday. Sanford C. Bernstein boosted their price objective on Intellia Therapeutics from $13.00 to $17.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen lowered Intellia Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Intellia Therapeutics has an average rating of “Hold” and an average price target of $20.98.

Intellia Therapeutics Stock Down 1.6%

Shares of NASDAQ NTLA opened at $11.74 on Wednesday. The firm has a market cap of $1.65 billion, a PE ratio of -3.49 and a beta of 1.82. Intellia Therapeutics has a 12-month low of $7.95 and a 12-month high of $28.25. The company’s fifty day simple moving average is $12.45 and its 200 day simple moving average is $13.40.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share for the quarter, meeting the consensus estimate of ($0.80). Intellia Therapeutics had a negative net margin of 672.16% and a negative return on equity of 57.79%. The firm had revenue of $7.66 million during the quarter, compared to the consensus estimate of $12.98 million. During the same period in the previous year, the firm posted ($0.98) earnings per share. The business’s revenue was down 46.4% compared to the same quarter last year. On average, equities analysts predict that Intellia Therapeutics will post -3.21 earnings per share for the current year.

Insider Activity

In other Intellia Therapeutics news, EVP J III sold 4,677 shares of Intellia Therapeutics stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $18.00, for a total transaction of $84,186.00. Following the completion of the transaction, the executive vice president owned 156,286 shares in the company, valued at approximately $2,813,148. The trade was a 2.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Michael Dube sold 2,641 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $16.78, for a total value of $44,315.98. Following the sale, the chief accounting officer directly owned 66,886 shares of the company’s stock, valued at $1,122,347.08. This represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 3.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intellia Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of NTLA. Comerica Bank lifted its stake in Intellia Therapeutics by 45.8% during the 4th quarter. Comerica Bank now owns 2,869 shares of the company’s stock valued at $26,000 after acquiring an additional 901 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Intellia Therapeutics in the 2nd quarter worth $26,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Intellia Therapeutics in the 3rd quarter worth $30,000. Freestone Grove Partners LP bought a new stake in shares of Intellia Therapeutics in the 2nd quarter worth $33,000. Finally, Nykredit A S purchased a new stake in shares of Intellia Therapeutics in the second quarter valued at about $33,000. 88.77% of the stock is owned by hedge funds and other institutional investors.

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.