Intellia Therapeutics (NASDAQ:NTLA) Downgraded to “Equal Weight” Rating by Morgan Stanley

Morgan Stanley cut shares of Intellia Therapeutics (NASDAQ:NTLA) from an overweight rating to an equal weight rating in a report published on Monday morning, MarketBeat reports. The brokerage currently has $11.00 price objective on the stock, down from their previous price objective of $56.00.

A number of other research firms have also weighed in on NTLA. BMO Capital Markets cut their target price on shares of Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. The Goldman Sachs Group cut their target price on shares of Intellia Therapeutics from $19.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Chardan Capital upped their target price on shares of Intellia Therapeutics from $88.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Citigroup cut 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. Finally, Canaccord Genuity Group restated a “buy” rating and set a $90.00 target price on shares of Intellia Therapeutics in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.71.

Intellia Therapeutics Stock Performance

Shares of NTLA opened at $10.55 on Monday. The stock has a market capitalization of $1.07 billion, a PE ratio of -1.94 and a beta of 1.83. Intellia Therapeutics has a 1 year low of $9.25 and a 1 year high of $34.87. The company’s 50-day simple moving average is $12.62 and its 200-day simple moving average is $18.04.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.37) by $0.03. The business had revenue of $9.10 million for the quarter, compared to analyst estimates of $8.28 million. The firm’s revenue for the quarter was down 24.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.38) EPS. On average, sell-side analysts predict that Intellia Therapeutics will post -5.09 earnings per share for the current year.

Insider Transactions at Intellia Therapeutics

In other news, CEO John M. Leonard sold 26,807 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $12.18, for a total transaction of $326,509.26. Following the transaction, the chief executive officer now directly 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 legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 28,735 shares of company stock worth $349,909. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

A number of hedge funds have recently modified their holdings of NTLA. Eastern Bank purchased a new position in shares of Intellia Therapeutics during the third quarter worth approximately $41,000. Values First Advisors Inc. purchased a new position in shares of Intellia Therapeutics during the third quarter worth approximately $54,000. KBC Group NV lifted its holdings in shares of Intellia Therapeutics by 62.4% during the fourth quarter. KBC Group NV now owns 6,093 shares of the company’s stock worth $71,000 after purchasing an additional 2,340 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of 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 worth $77,000 after purchasing an additional 794 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of Intellia Therapeutics by 182.7% during the third quarter. Blue Trust Inc. now owns 4,189 shares of the company’s stock worth $94,000 after purchasing an additional 2,707 shares during the period. 88.77% of the stock is currently owned by hedge funds and other 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.