Intellia Therapeutics (NASDAQ:NTLA) Price Target Raised to $17.00 at Wedbush

Intellia Therapeutics (NASDAQ:NTLA) had its target price upped by Wedbush from $12.00 to $17.00 in a report released on Friday morning, MarketBeat Ratings reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages have also weighed in on NTLA. Robert W. Baird lifted their price objective on Intellia Therapeutics from $7.00 to $13.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. HC Wainwright restated a “buy” rating and set a $25.00 target price on shares of Intellia Therapeutics in a report on Monday, June 15th. Citigroup reaffirmed a “market outperform” rating on shares of Intellia Therapeutics in a research note on Monday, June 15th. Wall Street Zen downgraded shares of Intellia Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Truist Financial raised shares of Intellia Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Intellia Therapeutics presently has an average rating of “Hold” and an average target price of $20.67.

Intellia Therapeutics Stock Performance

Shares of NASDAQ NTLA traded down $1.22 during mid-day trading on Friday, hitting $14.22. The stock had a trading volume of 6,167,834 shares, compared to its average volume of 5,935,236. The business has a 50 day moving average price of $14.40 and a two-hundred day moving average price of $13.30. Intellia Therapeutics has a 1 year low of $7.95 and a 1 year high of $28.25. The firm has a market cap of $1.99 billion, a P/E ratio of -4.02 and a beta of 1.77.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.11. The business had revenue of $15.05 million during the quarter, compared to analysts’ expectations of $13.81 million. Intellia Therapeutics had a negative net margin of 597.04% and a negative return on equity of 57.47%. During the same quarter in the prior year, the company posted ($1.10) EPS. Equities research analysts predict that Intellia Therapeutics will post -3.18 EPS for the current fiscal year.

Insider Buying and Selling at Intellia Therapeutics

In other Intellia Therapeutics news, EVP Edward J. Dulac III sold 4,677 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $18.00, for a total value of $84,186.00. Following the completion of the transaction, the executive vice president owned 156,286 shares in the company, valued at approximately $2,813,148. This represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Michael P. Dube sold 2,641 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $16.78, for a total value of $44,315.98. Following the transaction, the chief accounting officer directly owned 66,886 shares of the company’s stock, valued at $1,122,347.08. This represents a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 3.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd bought a new position in shares of Intellia Therapeutics during the third quarter valued at approximately $30,000. Advisory Services Network LLC bought a new stake in shares of Intellia Therapeutics in the 3rd quarter worth approximately $33,000. Headlands Technologies LLC bought a new stake in shares of Intellia Therapeutics in the 2nd quarter worth approximately $26,000. Comerica Bank grew its stake in shares of Intellia Therapeutics by 45.8% in the 4th quarter. Comerica Bank now owns 2,869 shares of the company’s stock worth $26,000 after buying an additional 901 shares during the last quarter. Finally, Danske Bank A S purchased a new stake in shares of Intellia Therapeutics in the 3rd quarter worth approximately $50,000. 88.77% of the stock is owned by hedge funds and other institutional investors.

Intellia Therapeutics Company Profile

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.