Intellia Therapeutics (NASDAQ:NTLA) Cut to “Sell” at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen downgraded shares of Intellia Therapeutics (NASDAQ:NTLA – Free Report) from a hold rating to a sell rating in a research note issued to investors on Sunday morning.

NTLA has been the topic of several other reports. Wedbush dropped their price target on shares of Intellia Therapeutics from $9.00 to $7.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Royal Bank Of Canada dropped their target price on shares of Intellia Therapeutics from $14.00 to $9.00 and set a “sector perform” rating on the stock in a research report on Friday, November 7th. Citizens Jmp cut their price target on shares of Intellia Therapeutics from $29.00 to $21.00 and set a “market outperform” rating on the stock in a research note on Friday, November 7th. Evercore ISI set a $8.00 price objective on shares of Intellia Therapeutics and gave the company an “in-line” rating in a research note on Tuesday, November 11th. Finally, William Blair lowered Intellia Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, October 27th. Nine equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Intellia Therapeutics has an average rating of “Hold” and a consensus target price of $17.00.

Check Out Our Latest Research Report on NTLA

Intellia Therapeutics Price Performance

Intellia Therapeutics stock opened at $12.83 on Friday. Intellia Therapeutics has a 1-year low of $5.90 and a 1-year high of $28.25. The stock has a market cap of $1.49 billion, a PE ratio of -3.00 and a beta of 2.05. The stock’s fifty day moving average is $9.52 and its two-hundred day moving average is $12.82.

Intellia Therapeutics (NASDAQ:NTLA – Get Free Report) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.02) by $0.10. Intellia Therapeutics had a negative return on equity of 57.01% and a negative net margin of 774.94%.The business had revenue of $13.78 million during the quarter, compared to analysts’ expectations of $14.12 million. During the same period in the prior year, the firm posted ($1.34) EPS. The business’s quarterly revenue was up 51.6% compared to the same quarter last year. On average, research analysts expect that Intellia Therapeutics will post -5.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Intellia Therapeutics

In other news, EVP Birgit C. Schultes sold 8,508 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $9.21, for a total value of $78,358.68. Following the transaction, the executive vice president owned 98,533 shares of the company’s stock, valued at approximately $907,488.93. The trade was a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John M. Leonard sold 34,146 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $9.21, for a total value of $314,484.66. Following the sale, the chief executive officer owned 1,013,339 shares of the company’s stock, valued at $9,332,852.19. This trade represents a 3.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 53,051 shares of company stock valued at $488,600 in the last ninety days. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

A number of large investors have recently bought and sold shares of the company. Contrarius Group Holdings Ltd lifted its stake in shares of Intellia Therapeutics by 279.4% in the 3rd quarter. Contrarius Group Holdings Ltd now owns 5,889,936 shares of the company’s stock worth $101,719,000 after acquiring an additional 4,337,428 shares during the period. Jupiter Asset Management Ltd. purchased a new position in Intellia Therapeutics during the third quarter worth about $23,519,000. Marex Group plc acquired a new stake in Intellia Therapeutics in the second quarter valued at about $5,849,000. Farallon Capital Management LLC purchased a new stake in Intellia Therapeutics in the 3rd quarter valued at approximately $10,486,000. Finally, JPMorgan Chase & Co. boosted its holdings in Intellia Therapeutics by 73.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 940,483 shares of the company’s stock valued at $8,822,000 after purchasing an additional 396,858 shares in the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Intellia Therapeutics Company Profile

(Get Free Report)

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.

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