Intellia Therapeutics (NASDAQ:NTLA) Upgraded at StockNews.com

StockNews.com upgraded shares of Intellia Therapeutics (NASDAQ:NTLA) to a sell rating in a research note issued to investors on Friday morning.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus reduced their target price on shares of Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Citigroup cut their price target on shares of Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Wedbush reiterated a “neutral” rating and issued a $14.00 price target on shares of Intellia Therapeutics in a report on Thursday, November 7th. The Goldman Sachs Group cut their price target on shares of Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. cut their price target on shares of Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating for the company in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.33.

Intellia Therapeutics Stock Performance

NTLA stock opened at $17.50 on Friday. Intellia Therapeutics has a one year low of $13.95 and a one year high of $34.87. The stock has a market capitalization of $1.78 billion, a PE ratio of -3.22 and a beta of 1.81. The company has a fifty day moving average of $19.17 and a 200-day moving average of $22.23.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Thursday, November 7th. The company reported ($1.34) EPS for the quarter, topping the consensus estimate of ($1.37) by $0.03. The firm had revenue of $9.10 million during the quarter, compared to analyst estimates of $8.28 million. During the same quarter last year, the business posted ($1.38) EPS. The firm’s revenue was down 24.1% on a year-over-year basis. Equities analysts forecast that Intellia Therapeutics will post -5.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Michael P. Dube sold 2,012 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total value of $38,248.12. Following the sale, the chief accounting officer now directly owns 47,012 shares of the company’s stock, valued at approximately $893,698.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intellia Therapeutics

Several hedge funds have recently modified their holdings of the stock. First Horizon Advisors Inc. boosted its position in shares of Intellia Therapeutics by 22.1% in the second quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company’s stock worth $58,000 after acquiring an additional 472 shares during the last quarter. Elmwood Wealth Management Inc. boosted its position in shares of Intellia Therapeutics by 0.9% in the third quarter. Elmwood Wealth Management Inc. now owns 67,774 shares of the company’s stock worth $1,393,000 after acquiring an additional 600 shares during the last quarter. Interchange Capital Partners LLC boosted its position in shares of Intellia Therapeutics by 6.5% in the first quarter. Interchange Capital Partners LLC now owns 10,909 shares of the company’s stock worth $303,000 after acquiring an additional 670 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Intellia Therapeutics by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,894 shares of the company’s stock worth $245,000 after acquiring an additional 750 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Intellia Therapeutics by 27.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock valued at $77,000 after buying an additional 794 shares in the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

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.