Intellia Therapeutics, Inc. (NASDAQ:NTLA) Given Consensus Rating of “Hold” by Brokerages

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) have earned a consensus recommendation of “Hold” from the twenty-three brokerages that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $21.1522.

A number of equities research analysts have commented on the company. HC Wainwright reiterated a “buy” rating and issued a $25.00 price target on shares of Intellia Therapeutics in a research note on Monday, June 15th. Wolfe Research downgraded shares of Intellia Therapeutics from a “peer perform” rating to an “underperform” rating and set a $9.00 price objective on the stock. in a report on Wednesday, July 15th. Wedbush increased their price objective on shares of Intellia Therapeutics from $12.00 to $17.00 and gave the company a “neutral” rating in a research report on Friday, July 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intellia Therapeutics in a research note on Friday, July 17th. Finally, New Street Research set a $25.00 target price on shares of Intellia Therapeutics in a research report on Monday, June 15th.

Insider Buying and Selling

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

Hedge Funds Weigh In On Intellia Therapeutics

Large investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Intellia Therapeutics during the second quarter worth $260,721,000. California State Teachers Retirement System increased its holdings in Intellia Therapeutics by 1,766.5% in the second quarter. California State Teachers Retirement System now owns 2,580,588 shares of the company’s stock valued at $43,664,000 after buying an additional 2,442,329 shares in the last quarter. ARK Investment Management LLC increased its holdings in Intellia Therapeutics by 19.2% in the fourth quarter. ARK Investment Management LLC now owns 14,207,324 shares of the company’s stock valued at $127,724,000 after buying an additional 2,288,146 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Intellia Therapeutics by 17.8% in the fourth quarter. Vanguard Group Inc. now owns 13,010,001 shares of the company’s stock worth $116,960,000 after acquiring an additional 1,965,181 shares during the period. Finally, State Street Corp raised its position in shares of Intellia Therapeutics by 29.1% in the fourth quarter. State Street Corp now owns 6,418,836 shares of the company’s stock worth $57,705,000 after acquiring an additional 1,447,967 shares during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Intellia Therapeutics Trading Down 0.6%

Shares of NTLA opened at $13.11 on Friday. Intellia Therapeutics has a 12 month low of $7.95 and a 12 month high of $28.25. The stock has a fifty day moving average price of $13.31 and a 200-day moving average price of $13.38. The firm has a market cap of $1.84 billion, a PE ratio of -3.90 and a beta of 1.81.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.80) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.80). Intellia Therapeutics had a negative return on equity of 57.79% and a negative net margin of 672.16%.The firm had revenue of $7.66 million during the quarter, compared to analysts’ expectations of $12.98 million. During the same quarter last year, the firm earned ($0.98) EPS. The business’s quarterly revenue was down 46.4% on a year-over-year basis. As a group, research analysts forecast that Intellia Therapeutics will post -3.21 EPS for the current year.

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.