Intellia Therapeutics’ (NTLA) Buy Rating Reaffirmed at Canaccord Genuity Group

Intellia Therapeutics (NASDAQ:NTLA)‘s stock had its “buy” rating reaffirmed by investment analysts at Canaccord Genuity Group in a research note issued on Tuesday,Benzinga reports. They presently have a $90.00 price target on the stock.

A number of other research analysts have also recently commented on NTLA. The Goldman Sachs Group reduced their target price on Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Barclays cut their price target on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Evercore ISI raised shares of Intellia Therapeutics to a “strong-buy” rating in a research report on Friday, August 9th. Wells Fargo & Company lowered their price objective on Intellia Therapeutics from $80.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Stifel Nicolaus decreased their price target 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. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.94.

Intellia Therapeutics Price Performance

Intellia Therapeutics stock traded down $0.04 during mid-day trading on Tuesday, reaching $14.13. 3,462,164 shares of the company were exchanged, compared to its average volume of 1,707,557. The firm has a market cap of $1.44 billion, a PE ratio of -2.60 and a beta of 1.81. Intellia Therapeutics has a 12 month low of $13.54 and a 12 month high of $34.87. The company has a fifty day simple moving average of $18.52 and a 200-day simple moving average of $21.97.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.03. The company had revenue of $9.10 million for the quarter, compared to analyst estimates of $8.28 million. The firm’s revenue was down 24.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.38) EPS. Sell-side analysts anticipate that Intellia Therapeutics will post -5.13 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Michael P. Dube sold 2,012 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total transaction of $38,248.12. Following the transaction, the chief accounting officer now directly owns 47,012 shares of the company’s stock, valued at approximately $893,698.12. This represents a 4.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Intellia Therapeutics

Large investors have recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Intellia Therapeutics by 17.9% in the third quarter. State Street Corp now owns 5,143,534 shares of the company’s stock worth $105,700,000 after purchasing an additional 780,754 shares during the period. Vanguard Group Inc. increased its stake in Intellia Therapeutics by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock worth $250,168,000 after purchasing an additional 746,263 shares during the period. ARK Investment Management LLC raised its holdings in Intellia Therapeutics by 5.7% during the 3rd quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock valued at $251,849,000 after buying an additional 659,651 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Intellia Therapeutics by 19.2% in the second quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock worth $51,494,000 after purchasing an additional 371,189 shares during the last quarter. Finally, Two Sigma Advisers LP increased its position in Intellia Therapeutics by 33.5% during the 3rd quarter. Two Sigma Advisers LP now owns 1,027,617 shares of the company’s stock valued at $21,118,000 after purchasing an additional 257,700 shares during the period. Hedge funds and other institutional investors own 88.77% of the company’s stock.

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.