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

Wedbush restated their neutral rating on shares of Intellia Therapeutics (NASDAQ:NTLA) in a research report sent to investors on Tuesday, Benzinga reports. They currently have a $29.00 target price on the stock.

Several other research firms have also recently issued reports on NTLA. The Goldman Sachs Group cut Intellia Therapeutics from a buy rating to a neutral rating and lowered their price objective for the stock from $136.00 to $32.00 in a research report 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 report on Friday, February 23rd. Finally, Wolfe Research assumed coverage on Intellia Therapeutics in a report on Thursday, February 15th. They issued a peer perform rating for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $67.00.

Intellia Therapeutics Price Performance

NTLA opened at $20.02 on Tuesday. Intellia Therapeutics has a 12 month low of $19.64 and a 12 month high of $47.48. The business has a fifty day moving average price of $26.64 and a 200 day moving average price of $27.62.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.47) by $0.01. The business had revenue of ($1.92) million during the quarter, compared to analysts’ expectations 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 in the prior year, the firm posted ($1.40) EPS. Research analysts anticipate that Intellia Therapeutics will post -5.58 EPS for the current year.

Insider Transactions at Intellia Therapeutics

In other news, EVP James Basta sold 2,297 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $32.99, for a total transaction of $75,778.03. Following the completion of the transaction, the executive vice president now directly owns 81,571 shares of the company’s stock, valued at approximately $2,691,027.29. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

A number of large investors have recently modified their holdings of the business. Los Angeles Capital Management LLC raised its stake in shares of Intellia Therapeutics by 3.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 11,695 shares of the company’s stock worth $357,000 after buying an additional 422 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Intellia Therapeutics by 7.3% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,651 shares of the company’s stock worth $210,000 after acquiring an additional 451 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Intellia Therapeutics by 1.8% in the 3rd quarter. Victory Capital Management Inc. now owns 27,316 shares of the company’s stock worth $864,000 after acquiring an additional 470 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Intellia Therapeutics by 7.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 8,144 shares of the company’s stock worth $248,000 after acquiring an additional 582 shares during the period. Finally, Axxcess Wealth Management LLC grew its holdings in shares of Intellia Therapeutics by 4.0% in the 4th quarter. Axxcess Wealth Management LLC now owns 15,592 shares of the company’s stock worth $475,000 after acquiring an additional 594 shares during the period. 88.77% of the stock is 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; NTLA-2002 for the treatment of hereditary angioedema; and NTLA-3001 for alpha-1 antitrypsin deficiency associated lung disease.