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

Canaccord Genuity Group restated their buy rating on shares of Intellia Therapeutics (NASDAQ:NTLA) in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a $90.00 price objective on the stock.

A number of other equities analysts have also recently commented on the company. Oppenheimer dropped their target price on Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Chardan Capital boosted their price objective on shares of Intellia Therapeutics from $88.00 to $91.00 and gave the company a “buy” rating in a research report on Monday. StockNews.com upgraded shares of Intellia Therapeutics to a “sell” rating in a report on Friday, November 8th. The Goldman Sachs Group cut their price target on shares of Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Finally, 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 research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.94.

Intellia Therapeutics Stock Performance

Shares of NTLA opened at $14.13 on Tuesday. The stock has a market capitalization of $1.44 billion, a PE ratio of -2.60 and a beta of 1.81. The company’s fifty day moving average is $18.52 and its 200 day moving average is $21.97. Intellia Therapeutics has a fifty-two week low of $13.54 and a fifty-two week high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last posted 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 business had revenue of $9.10 million during the quarter, compared to the consensus estimate of $8.28 million. During the same quarter last year, the firm earned ($1.38) earnings per share. The business’s quarterly revenue was down 24.1% on a year-over-year basis. As a group, research analysts forecast that Intellia Therapeutics will post -5.13 earnings per share for the current year.

Insider Activity

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,012 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 47,012 shares of the company’s stock, valued at approximately $893,698.12. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Intellia Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in Intellia Therapeutics in the first quarter worth about $160,000. ProShare Advisors LLC grew its position in shares of Intellia Therapeutics by 11.9% in the 1st quarter. ProShare Advisors LLC now owns 23,235 shares of the company’s stock worth $639,000 after buying an additional 2,466 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Intellia Therapeutics by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock worth $250,168,000 after acquiring an additional 746,263 shares in the last quarter. EntryPoint Capital LLC lifted its position in Intellia Therapeutics by 61.1% during the first quarter. EntryPoint Capital LLC now owns 4,122 shares of the company’s stock valued at $113,000 after acquiring an additional 1,563 shares during the last quarter. Finally, Axxcess Wealth Management LLC boosted its stake in Intellia Therapeutics by 6.5% in the first quarter. Axxcess Wealth Management LLC now owns 16,602 shares of the company’s stock valued at $457,000 after acquiring an additional 1,010 shares in the last quarter. 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.