Intellia Therapeutics (NASDAQ:NTLA) Earns “Buy” Rating from HC Wainwright

Intellia Therapeutics (NASDAQ:NTLA)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a note issued to investors on Wednesday, Benzinga reports. They currently have a $25.00 target price on the stock. HC Wainwright’s target price indicates a potential upside of 96.23% from the stock’s current price.

A number of other analysts have also commented on the company. Citigroup reaffirmed a “market outperform” rating on shares of Intellia Therapeutics in a research note on Tuesday, August 25th. Evercore raised shares of Intellia Therapeutics from a “hold” rating to an “outperform” rating and set a $24.00 target price for the company in a research note on Friday, August 7th. Wedbush upped their target price on shares of Intellia Therapeutics from $12.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, July 10th. Canaccord Genuity Group reiterated a “buy” rating and set a $49.00 price target on shares of Intellia Therapeutics in a report on Tuesday, June 16th. Finally, Sanford C. Bernstein lifted their target price on shares of Intellia Therapeutics from $13.00 to $17.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $21.15.

Intellia Therapeutics Stock Performance

NASDAQ:NTLA opened at $12.74 on Wednesday. The firm has a 50-day moving average price of $12.78 and a two-hundred day moving average price of $13.42. Intellia Therapeutics has a twelve month low of $7.95 and a twelve month high of $28.25. The company has a market capitalization of $1.79 billion, a P/E ratio of -3.79 and a beta of 1.82.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.80). Intellia Therapeutics had a negative net margin of 672.16% and a negative return on equity of 57.79%. The company had revenue of $7.66 million for the quarter, compared to the consensus estimate of $12.98 million. During the same quarter in the prior year, the firm earned ($0.98) earnings per share. The company’s revenue for the quarter was down 46.4% compared to the same quarter last year. On average, equities research analysts predict that Intellia Therapeutics will post -3.21 earnings per share for the current year.

Insider Activity at Intellia Therapeutics

In other Intellia Therapeutics news, CAO Michael Dube sold 2,641 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was 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. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP J III sold 4,677 shares of Intellia Therapeutics stock in a transaction 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 completion of the sale, the executive vice president owned 156,286 shares of the company’s stock, valued at approximately $2,813,148. This trade represents a 2.91% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Integrated Wealth Concepts LLC purchased a new position in shares of Intellia Therapeutics in the second quarter worth approximately $34,000. Arizona State Retirement System boosted its holdings in shares of Intellia Therapeutics by 17.0% during the second quarter. Arizona State Retirement System now owns 35,356 shares of the company’s stock worth $598,000 after purchasing an additional 5,131 shares during the period. Nykredit A S acquired a new stake in shares of Intellia Therapeutics during the second quarter worth approximately $33,000. Wellington Grp LLC grew its position in Intellia Therapeutics by 46.2% during the second quarter. Wellington Grp LLC now owns 67,688 shares of the company’s stock valued at $1,145,000 after purchasing an additional 21,391 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in Intellia Therapeutics by 338.7% in the 2nd quarter. HighTower Advisors LLC now owns 49,129 shares of the company’s stock valued at $831,000 after buying an additional 37,931 shares during the period. Institutional investors and hedge funds own 88.77% of the company’s stock.

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.