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

Intellia Therapeutics (NASDAQ:NTLA)‘s stock had its “neutral” rating reiterated by stock analysts at Wedbush in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $29.00 price target on the stock. Wedbush’s price target would indicate a potential upside of 36.99% from the stock’s previous close.

A number of other research firms have also recently commented on NTLA. The Goldman Sachs Group cut shares of Intellia Therapeutics from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $136.00 to $32.00 in a research note on Friday, February 23rd. Canaccord Genuity Group boosted their target price on Intellia Therapeutics from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Finally, Wolfe Research began coverage on Intellia Therapeutics in a report on Thursday, February 15th. They issued a “peer perform” rating on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Intellia Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Intellia Therapeutics Price Performance

NASDAQ:NTLA opened at $21.17 on Tuesday. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of -3.91 and a beta of 1.77. The business has a 50 day simple moving average of $26.81 and a 200-day simple moving average of $27.68. Intellia Therapeutics has a 1 year low of $20.78 and a 1 year high of $47.48.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.47) by $0.01. The company had revenue of ($1.92) million during the quarter, compared to the consensus estimate of $15.10 million. Intellia Therapeutics had a negative return on equity of 43.91% and a negative net margin of 893.34%. During the same period last year, the company earned ($1.40) earnings per share. As a group, analysts expect that Intellia Therapeutics will post -5.58 earnings per share for the current fiscal year.

Insider Activity

In other Intellia Therapeutics news, EVP James Basta sold 2,297 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $32.99, for a total transaction of $75,778.03. Following the transaction, the executive vice president now directly owns 81,571 shares in the company, valued at approximately $2,691,027.29. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.00% of the company’s stock.

Institutional Trading of Intellia Therapeutics

Hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. bought a new position in shares of Intellia Therapeutics in the 4th quarter worth $26,000. Signaturefd LLC boosted its position in Intellia Therapeutics by 89.3% during the fourth quarter. Signaturefd LLC now owns 1,592 shares of the company’s stock valued at $49,000 after purchasing an additional 751 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Intellia Therapeutics by 95.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,263 shares of the company’s stock valued at $72,000 after purchasing an additional 1,108 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in Intellia Therapeutics by 35.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,056 shares of the company’s stock worth $93,000 after purchasing an additional 793 shares in the last quarter. Finally, Spire Wealth Management lifted its position in shares of Intellia Therapeutics by 3,789.0% during the fourth quarter. Spire Wealth Management now owns 3,889 shares of the company’s stock valued at $119,000 after buying an additional 3,789 shares during the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

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; NTLA-2002 for the treatment of hereditary angioedema; and NTLA-3001 for alpha-1 antitrypsin deficiency associated lung disease.