Cantor Fitzgerald Reaffirms “Overweight” Rating for Intellia Therapeutics (NASDAQ:NTLA)

Intellia Therapeutics (NASDAQ:NTLA)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $65.00 target price on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 76.97% from the stock’s current price.

A number of other research firms have also weighed in on NTLA. Citigroup lowered their target price on Intellia Therapeutics from $44.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday, August 4th. Barclays cut their target price on Intellia Therapeutics from $148.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, August 4th. StockNews.com started coverage on Intellia Therapeutics in a research note on Thursday, May 18th. They issued a “sell” rating for the company. Bank of America boosted their price target on shares of Intellia Therapeutics from $89.00 to $91.00 in a research report on Tuesday, June 13th. Finally, Canaccord Genuity Group lowered their target price on Intellia Therapeutics from $66.00 to $65.00 and set a “buy” rating for the company in a research note on Monday, August 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $81.89.

Intellia Therapeutics Stock Performance

NASDAQ NTLA traded down $0.42 during trading hours on Wednesday, hitting $36.73. The company had a trading volume of 134,856 shares, compared to its average volume of 988,664. Intellia Therapeutics has a 52 week low of $32.44 and a 52 week high of $69.28. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of -6.73 and a beta of 1.84. The firm has a 50 day simple moving average of $40.09 and a 200 day simple moving average of $40.11.

Intellia Therapeutics (NASDAQ:NTLA) last announced its earnings results on Thursday, August 3rd. The company reported ($1.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.08). Intellia Therapeutics had a negative net margin of 854.92% and a negative return on equity of 41.64%. The company had revenue of $13.59 million during the quarter, compared to analysts’ expectations of $12.08 million. During the same period in the prior year, the business earned ($1.33) earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, research analysts forecast that Intellia Therapeutics will post -5.59 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Muna Bhanji sold 1,867 shares of the firm’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $39.30, for a total value of $73,373.10. Following the completion of the sale, the director now directly owns 12,526 shares of the company’s stock, valued at approximately $492,271.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Intellia Therapeutics news, Director Muna Bhanji sold 1,867 shares of Intellia Therapeutics stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $39.30, for a total transaction of $73,373.10. Following the completion of the transaction, the director now directly owns 12,526 shares of the company’s stock, valued at $492,271.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Eliana Clark sold 5,000 shares of the business’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $45.00, for a total transaction of $225,000.00. Following the transaction, the executive vice president now owns 45,146 shares in the company, valued at approximately $2,031,570. The disclosure for this sale can be found here. Insiders have sold 7,492 shares of company stock valued at $324,174 over the last ninety days. 3.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Intellia Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of NTLA. Morgan Stanley grew its position in Intellia Therapeutics by 64.5% in the 4th quarter. Morgan Stanley now owns 2,518,150 shares of the company’s stock valued at $87,858,000 after acquiring an additional 987,599 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Intellia Therapeutics by 48.7% during the 1st quarter. Wellington Management Group LLP now owns 2,966,140 shares of the company’s stock valued at $110,548,000 after buying an additional 971,952 shares in the last quarter. Norges Bank bought a new position in Intellia Therapeutics in the 4th quarter worth about $29,910,000. State Street Corp increased its position in shares of Intellia Therapeutics by 31.1% during the second quarter. State Street Corp now owns 3,143,811 shares of the company’s stock worth $162,724,000 after acquiring an additional 746,284 shares during the period. Finally, BlackRock Inc. raised its stake in shares of Intellia Therapeutics by 9.6% during the second quarter. BlackRock Inc. now owns 8,054,963 shares of the company’s stock valued at $328,481,000 after acquiring an additional 706,344 shares in the last quarter. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc, a genome editing company, focuses on the development of curative therapeutics. The company's in vivo programs include NTLA-2001, which is in Phase 1 clinical trial for the treatment of transthyretin amyloidosis; and NTLA-2002 for the treatment of hereditary angioedema, as well as for other product candidates, including NTLA-2003 for alpha-1 antitrypsin deficiency-liver disease; and NTLA-3001 for alpha-1 antitrypsin deficiency-lung disease; and NTLA-6001 for CD30+ lymphomas.