Wall Street Zen Downgrades Intellia Therapeutics (NASDAQ:NTLA) to Sell

Intellia Therapeutics (NASDAQ:NTLA) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

A number of other research analysts have also issued reports on the company. Guggenheim lowered Intellia Therapeutics from a “buy” rating to a “neutral” rating in a report on Monday, October 27th. Wolfe Research reissued a “peer perform” rating on shares of Intellia Therapeutics in a research note on Wednesday, November 12th. HC Wainwright reduced their target price on shares of Intellia Therapeutics from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, November 10th. Wedbush lowered their target price on shares of Intellia Therapeutics from $9.00 to $7.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Finally, JMP Securities cut their price target on shares of Intellia Therapeutics from $33.00 to $29.00 and set a “market outperform” rating for the company in a report on Tuesday, October 28th. Eleven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $18.43.

Intellia Therapeutics Stock Performance

Shares of NASDAQ:NTLA opened at $9.44 on Friday. Intellia Therapeutics has a one year low of $5.90 and a one year high of $28.25. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -2.21 and a beta of 2.13. The company has a 50-day simple moving average of $11.48 and a 200-day simple moving average of $12.70.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.92) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.10. The firm had revenue of $13.78 million for the quarter, compared to analyst estimates of $14.12 million. Intellia Therapeutics had a negative return on equity of 57.01% and a negative net margin of 774.94%.The business’s revenue was up 51.6% on a year-over-year basis. During the same quarter last year, the company posted ($1.34) earnings per share. As a group, research analysts forecast that Intellia Therapeutics will post -5.07 EPS for the current fiscal year.

Insider Activity at Intellia Therapeutics

In related news, CAO Michael P. Dube sold 1,871 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $17.38, for a total transaction of $32,517.98. Following the sale, the chief accounting officer owned 55,266 shares of the company’s stock, valued at approximately $960,523.08. The trade was a 3.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC purchased a new stake in shares of Intellia Therapeutics during the 2nd quarter worth approximately $26,000. Blue Bell Private Wealth Management LLC purchased a new position in Intellia Therapeutics in the 3rd quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd acquired a new position in Intellia Therapeutics during the third quarter worth $30,000. Whipplewood Advisors LLC boosted its position in Intellia Therapeutics by 114,900.0% during the second quarter. Whipplewood Advisors LLC now owns 3,450 shares of the company’s stock worth $32,000 after purchasing an additional 3,447 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Intellia Therapeutics by 56.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,590 shares of the company’s stock valued at $33,000 after purchasing an additional 1,655 shares during the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.

About Intellia Therapeutics

Intellia Therapeutics, Inc (NASDAQ: NTLA) is a clinical‐stage biotechnology company focused on developing potentially curative genome editing therapies using the CRISPR/Cas9 platform. The company’s research spans both in vivo and ex vivo applications of CRISPR/Cas9, aiming to correct or disable disease‐causing genes with a single administration. Intellia’s lead in vivo program targets transthyretin amyloidosis (ATTR) by delivering CRISPR/Cas9 machinery directly to the liver, while additional preclinical efforts pursue treatments for hemophilia A, hereditary angioedema and other genetic disorders.

Beyond its in vivo pipeline, Intellia collaborates with strategic partners to extend the impact of its genome editing approach.