Wedbush Reaffirms “Neutral” Rating for Intellia Therapeutics (NASDAQ:NTLA)

Intellia Therapeutics (NASDAQ:NTLA)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Wedbush in a research note issued on Friday,RTT News reports. They presently have a $10.00 target price on the stock, down from their prior target price of $14.00. Wedbush’s price objective suggests a potential downside of 1.96% from the company’s current price.

A number of other equities research analysts have also recently commented on NTLA. Canaccord Genuity Group reiterated a “buy” rating and set a $90.00 target price on shares of Intellia Therapeutics in a research note on Tuesday, November 19th. Barclays decreased their price objective on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Citigroup dropped their target price on shares of Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Wells Fargo & Company decreased their price target on shares of Intellia Therapeutics from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday. Finally, StockNews.com raised shares of Intellia Therapeutics to a “sell” rating in a report on Friday, November 8th. 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.81.

Intellia Therapeutics Stock Performance

NASDAQ:NTLA opened at $10.20 on Friday. Intellia Therapeutics has a 52 week low of $9.93 and a 52 week high of $34.87. The firm has a 50-day moving average price of $13.77 and a two-hundred day moving average price of $18.96. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -1.87 and a beta of 1.83.

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 the consensus estimate of ($1.37) by $0.03. The business had revenue of $9.10 million during the quarter, compared to the consensus estimate of $8.28 million. The business’s revenue was down 24.1% on a year-over-year basis. During the same period in the prior year, the company earned ($1.38) earnings per share. As a group, sell-side analysts forecast that Intellia Therapeutics will post -5.12 earnings per share for the current year.

Insider Activity

In related news, CEO John M. Leonard sold 26,807 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $12.18, for a total value of $326,509.26. Following the sale, the chief executive officer now owns 941,115 shares in the company, valued at approximately $11,462,780.70. This trade represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 28,735 shares of company stock worth $349,909. 3.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intellia Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. State Street Corp grew its holdings in shares of Intellia Therapeutics by 17.9% during 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 in the last quarter. ARK Investment Management LLC grew its stake in Intellia Therapeutics by 5.7% in the 3rd quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock worth $251,849,000 after buying an additional 659,651 shares in the last quarter. Federated Hermes Inc. grew its stake in Intellia Therapeutics by 19.2% in the 2nd quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock worth $51,494,000 after buying an additional 371,189 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of Intellia Therapeutics by 33.5% in the 3rd quarter. Two Sigma Advisers LP now owns 1,027,617 shares of the company’s stock worth $21,118,000 after buying an additional 257,700 shares during the last quarter. Finally, Sphera Funds Management LTD. raised its position in shares of Intellia Therapeutics by 108.8% during the 3rd quarter. Sphera Funds Management LTD. now owns 291,080 shares of the company’s stock valued at $5,982,000 after buying an additional 151,661 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors.

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.