Wedbush Reiterates Neutral Rating for Intellia Therapeutics (NASDAQ:NTLA)

Wedbush reiterated their neutral rating on shares of Intellia Therapeutics (NASDAQ:NTLA) in a report released on Tuesday morning, Benzinga reports. They currently have a $29.00 target price on the stock.

A number of other equities research analysts also recently weighed in on NTLA. Wolfe Research assumed coverage on Intellia Therapeutics in a research report on Thursday, February 15th. They set a peer perform rating for the company. Canaccord Genuity Group lifted their price objective on Intellia Therapeutics from $72.00 to $73.00 and gave the stock a buy rating in a research note on Friday, February 23rd. Finally, The Goldman Sachs Group cut Intellia Therapeutics from a buy rating to a neutral rating and decreased their price objective for the stock from $136.00 to $32.00 in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Intellia Therapeutics presently has an average rating of Moderate Buy and a consensus target price of $67.00.

Intellia Therapeutics Trading Up 3.7 %

Shares of NTLA opened at $20.76 on Tuesday. Intellia Therapeutics has a 52-week low of $19.37 and a 52-week high of $47.48. The stock has a fifty day moving average price of $26.51 and a two-hundred day moving average price of $27.56.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.47) by $0.01. The company had revenue of ($1.92) million during the quarter, compared to the consensus estimate of $15.10 million. Intellia Therapeutics had a negative return on equity of 43.91% and a negative net margin of 893.34%. During the same quarter in the previous year, the company posted ($1.40) earnings per share. Analysts expect that Intellia Therapeutics will post -5.57 earnings per share for the current year.

Insider Buying and Selling at Intellia Therapeutics

In other Intellia Therapeutics news, EVP James Basta sold 2,297 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $32.99, for a total value of $75,778.03. Following the completion of the transaction, the executive vice president now directly owns 81,571 shares of the company’s stock, valued at $2,691,027.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.00% of the company’s stock.

Institutional Trading of Intellia Therapeutics

Institutional investors have recently modified their holdings of the company. Barclays PLC lifted its holdings in shares of Intellia Therapeutics by 15.0% in the third quarter. Barclays PLC now owns 256,626 shares of the company’s stock valued at $8,115,000 after purchasing an additional 33,558 shares in the last quarter. ARK Investment Management LLC lifted its holdings in shares of Intellia Therapeutics by 14.7% in the fourth quarter. ARK Investment Management LLC now owns 11,412,449 shares of the company’s stock valued at $347,966,000 after purchasing an additional 1,463,820 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Intellia Therapeutics by 5.9% in the third quarter. American Century Companies Inc. now owns 267,213 shares of the company’s stock valued at $8,449,000 after purchasing an additional 14,863 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Intellia Therapeutics by 13.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 36,225 shares of the company’s stock valued at $1,104,000 after purchasing an additional 4,255 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Intellia Therapeutics by 1.4% in the third quarter. Wellington Management Group LLP now owns 2,651,994 shares of the company’s stock valued at $83,856,000 after purchasing an additional 36,630 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.