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

Intellia Therapeutics (NASDAQ:NTLA)‘s stock had its “neutral” rating reaffirmed by analysts at Wedbush in a note issued to investors on Monday,Benzinga reports. They presently have a $12.00 target price on the stock. Wedbush’s price target would suggest a potential downside of 11.03% from the company’s previous close.

Several other research firms also recently commented on NTLA. Wall Street Zen downgraded shares of Intellia Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intellia Therapeutics in a research report on Tuesday, April 21st. William Blair upgraded Intellia Therapeutics from a “market perform” rating to an “outperform” rating in a report on Monday, March 2nd. restated a “buy” rating on shares of Intellia Therapeutics in a report on Tuesday, March 3rd. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $30.00 price objective on shares of Intellia Therapeutics in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Intellia Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $20.46.

Intellia Therapeutics Stock Up 11.4%

NTLA stock traded up $1.38 during trading on Monday, reaching $13.49. The company’s stock had a trading volume of 2,150,354 shares, compared to its average volume of 5,486,125. The company’s fifty day moving average is $13.60 and its 200-day moving average is $12.32. The company has a market capitalization of $1.88 billion, a P/E ratio of -3.81 and a beta of 1.92. Intellia Therapeutics has a 1 year low of $7.95 and a 1 year high of $28.25.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Monday, May 11th. The company reported ($0.81) EPS for the quarter, topping the consensus estimate of ($0.92) by $0.11. The firm had revenue of $15.05 million for the quarter, compared to the consensus estimate 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 previous year, the firm earned ($1.10) earnings per share. Analysts anticipate that Intellia Therapeutics will post -3.18 earnings per share for the current year.

Hedge Funds Weigh In On Intellia Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of NTLA. Caitong International Asset Management Co. Ltd bought a new stake in Intellia Therapeutics in the third quarter worth $30,000. Advisory Services Network LLC bought a new position in Intellia Therapeutics during the third quarter valued at $33,000. Headlands Technologies LLC bought a new position in Intellia Therapeutics during the second quarter valued at $26,000. Comerica Bank raised its stake in shares of Intellia Therapeutics by 45.8% in the fourth quarter. Comerica Bank now owns 2,869 shares of the company’s stock valued at $26,000 after acquiring an additional 901 shares during the period. Finally, Danske Bank A S purchased a new stake in shares of Intellia Therapeutics in the third quarter valued at $50,000. Hedge funds and other institutional investors 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.