Intellia Therapeutics, Inc. (NASDAQ:NTLA) Receives $61.77 Average PT from Analysts

Intellia Therapeutics, Inc. (NASDAQ:NTLA) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $61.77.

NTLA has been the topic of a number of recent research reports. Stifel Nicolaus reduced their price objective on shares of Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Royal Bank of Canada restated an “outperform” rating and issued a $54.00 price target on shares of Intellia Therapeutics in a research report on Thursday, September 19th. JPMorgan Chase & Co. dropped their price objective on Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating for the company in a report on Monday, August 12th. Evercore ISI upgraded Intellia Therapeutics to a “strong-buy” rating in a report on Friday, August 9th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $73.00 price target on shares of Intellia Therapeutics in a research note on Thursday, June 27th.

Intellia Therapeutics Stock Down 4.9 %

Intellia Therapeutics stock opened at $17.65 on Friday. The stock has a 50-day simple moving average of $22.17 and a 200 day simple moving average of $23.60. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -3.29 and a beta of 1.77. Intellia Therapeutics has a 12-month low of $17.48 and a 12-month high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.29). The business had revenue of $7.00 million during the quarter, compared to analysts’ expectations of $19.68 million. During the same quarter last year, the company posted ($1.40) earnings per share. The business’s quarterly revenue was down 48.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Intellia Therapeutics will post -5.22 EPS for the current year.

Institutional Investors Weigh In On Intellia Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Avidity Partners Management LP increased its holdings in Intellia Therapeutics by 18.0% during the 4th quarter. Avidity Partners Management LP now owns 447,434 shares of the company’s stock worth $13,642,000 after purchasing an additional 68,334 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Intellia Therapeutics by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,324,561 shares of the company’s stock worth $29,648,000 after buying an additional 98,865 shares in the last quarter. Opaleye Management Inc. acquired a new stake in Intellia Therapeutics in the 4th quarter valued at approximately $3,019,000. American Century Companies Inc. lifted its stake in Intellia Therapeutics by 23.8% in the 2nd quarter. American Century Companies Inc. now owns 330,514 shares of the company’s stock valued at $7,397,000 after acquiring an additional 63,550 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Intellia Therapeutics by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 8,347,449 shares of the company’s stock worth $254,514,000 after acquiring an additional 155,579 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.