Intellia Therapeutics (NASDAQ:NTLA) Upgraded by Wolfe Research to Outperform Rating

Wolfe Research upgraded shares of Intellia Therapeutics (NASDAQ:NTLA) from a peer perform rating to an outperform rating in a report issued on Monday morning, Marketbeat.com reports. The firm currently has $21.00 price target on the stock.

A number of other research analysts have also weighed in on NTLA. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $9.00 price target on shares of Intellia Therapeutics in a research note on Friday, February 28th. Wedbush reaffirmed a “neutral” rating and issued a $10.00 target price (down from $14.00) on shares of Intellia Therapeutics in a research note on Friday, January 10th. Morgan Stanley downgraded Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $56.00 to $11.00 in a research note on Monday, January 27th. Citigroup boosted their price target on Intellia Therapeutics from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $13.00 price objective (down from $45.00) on shares of Intellia Therapeutics in a report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Intellia Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $36.68.

Intellia Therapeutics Price Performance

NASDAQ:NTLA opened at $7.92 on Monday. The business’s 50-day simple moving average is $8.86 and its 200-day simple moving average is $12.04. Intellia Therapeutics has a fifty-two week low of $5.90 and a fifty-two week high of $28.18. The stock has a market capitalization of $819.85 million, a PE ratio of -1.46 and a beta of 2.23.

Hedge Funds Weigh In On Intellia Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of NTLA. Barclays PLC grew its position in shares of Intellia Therapeutics by 17.7% during the 3rd quarter. Barclays PLC now owns 292,795 shares of the company’s stock worth $6,017,000 after purchasing an additional 44,022 shares in the last quarter. Geode Capital Management LLC increased its stake in Intellia Therapeutics by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,343,310 shares of the company’s stock worth $48,164,000 after acquiring an additional 49,367 shares during the period. Virtu Financial LLC bought a new stake in shares of Intellia Therapeutics during the 3rd quarter valued at $417,000. Franklin Resources Inc. raised its position in shares of Intellia Therapeutics by 10.3% in the 3rd quarter. Franklin Resources Inc. now owns 16,405 shares of the company’s stock valued at $320,000 after buying an additional 1,538 shares in the last quarter. Finally, Green Alpha Advisors LLC bought a new stake in shares of Intellia Therapeutics during the 4th quarter worth $138,000. 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.