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

Canaccord Genuity Group reissued their buy rating on shares of Intellia Therapeutics (NASDAQ:NTLA) in a research note issued to investors on Tuesday,Benzinga reports. Canaccord Genuity Group currently has a $90.00 target price on the stock.

Several other equities research analysts have also recently commented on NTLA. William Blair reiterated a “neutral” rating and issued a $14.00 price target on shares of Intellia Therapeutics in a research report on Monday, November 18th. Wedbush reiterated a “neutral” rating and issued a $14.00 target price on shares of Intellia Therapeutics in a report on Monday, November 18th. Oppenheimer reduced their target price on shares of Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Barclays decreased their price target on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Finally, Stifel Nicolaus cut their price objective on Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Intellia Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $54.94.

Intellia Therapeutics Trading Up 3.6 %

Shares of NASDAQ:NTLA opened at $14.30 on Tuesday. Intellia Therapeutics has a twelve month low of $12.82 and a twelve month high of $34.87. The firm has a market cap of $1.46 billion, a P/E ratio of -2.55 and a beta of 1.81. The company has a 50 day moving average of $18.12 and a 200-day moving average of $21.79.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share for the quarter, topping analysts’ consensus estimates 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 company earned ($1.38) earnings per share. The business’s revenue for the quarter was down 24.1% on a year-over-year basis. Equities research analysts forecast that Intellia Therapeutics will post -5.13 EPS for the current year.

Insider Transactions at Intellia Therapeutics

In other news, CAO Michael P. Dube sold 2,012 shares of Intellia Therapeutics stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total transaction of $38,248.12. Following the completion of the sale, the chief accounting officer now directly owns 47,012 shares in the company, valued at $893,698.12. The trade was a 4.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intellia Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NTLA. Virtu Financial LLC bought a new stake in Intellia Therapeutics in the third quarter worth $417,000. Geode Capital Management LLC boosted its stake in shares of 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 in the last quarter. Barclays PLC boosted its stake 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 acquiring an additional 44,022 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of 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 acquiring an additional 257,700 shares during the last quarter. Finally, Sphera Funds Management LTD. raised its stake in shares of Intellia Therapeutics by 108.8% in the 3rd quarter. Sphera Funds Management LTD. now owns 291,080 shares of the company’s stock valued at $5,982,000 after acquiring an additional 151,661 shares in the last quarter. 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.