Intellia Therapeutics (NASDAQ:NTLA) Price Target Raised to $13.00 at Wedbush

Key Points

• Wedbush raised Intellia Therapeutics’ price target to $13 from $12 while maintaining a “neutral” rating, implying roughly 2% upside from the prior close.
• Analyst sentiment remains mixed: the stock has an average “Hold” rating and a consensus price target of $20.98, with targets ranging from $9 to $49.
• Intellia reported a quarterly loss of $0.80 per share in line with estimates, but revenue of $7.66 million fell short of expectations and declined 46.4% year over year.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) had its price target upped by equities research analysts at Wedbush from $12.00 to $13.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a "neutral" rating on the stock. Wedbush's price target suggests a potential upside of 2.04% from the stock's previous close.

Other equities analysts have also issued reports about the company. Canaccord Genuity Group restated a "buy" rating and set a $49.00 target price on shares of Intellia Therapeutics in a report on Tuesday, June 16th. Sanford C. Bernstein raised their price objective on Intellia Therapeutics from $13.00 to $17.00 and gave the company a "market perform" rating in a research note on Wednesday, May 13th. Evercore raised Intellia Therapeutics from a "hold" rating to an "outperform" rating and set a $24.00 target price for the company in a research report on Friday, August 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Intellia Therapeutics in a report on Friday, July 17th. Finally, Wolfe Research lowered shares of Intellia Therapeutics from a "peer perform" rating to an "underperform" rating and set a $9.00 price target on the stock. in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, Intellia Therapeutics presently has an average rating of "Hold" and a consensus price target of $20.98.

Intellia Therapeutics Price Performance

Shares of NTLA opened at $12.74 on Wednesday. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -3.79 and a beta of 1.82. The company's fifty day moving average is $12.78 and its 200-day moving average is $13.42. Intellia Therapeutics has a 12 month low of $7.95 and a 12 month high of $28.25.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.80). The business had revenue of $7.66 million during the quarter, compared to analyst estimates of $12.98 million. Intellia Therapeutics had a negative net margin of 672.16% and a negative return on equity of 57.79%. Intellia Therapeutics's quarterly revenue was down 46.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.98) EPS. As a group, research analysts predict that Intellia Therapeutics will post -3.21 earnings per share for the current fiscal year.

Insider Transactions at Intellia Therapeutics

In related news, EVP Edward J. Dulac III sold 4,677 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $18.00, for a total transaction of $84,186.00. Following the completion of the sale, the executive vice president owned 156,286 shares in the company, valued at $2,813,148. This represents a 2.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Michael P. Dube sold 2,641 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $16.78, for a total value of $44,315.98. Following the completion of the sale, the chief accounting officer directly owned 66,886 shares in the company, valued at $1,122,347.08. This trade represents a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 3.50% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Intellia Therapeutics in the second quarter worth $260,721,000. California State Teachers Retirement System boosted its holdings in Intellia Therapeutics by 1,766.5% in the 2nd quarter. California State Teachers Retirement System now owns 2,580,588 shares of the company's stock valued at $43,664,000 after purchasing an additional 2,442,329 shares during the period. ARK Investment Management LLC boosted its holdings in Intellia Therapeutics by 19.2% in the 4th quarter. ARK Investment Management LLC now owns 14,207,324 shares of the company's stock valued at $127,724,000 after purchasing an additional 2,288,146 shares during the period. Vanguard Group Inc. grew its position in Intellia Therapeutics by 17.8% in the 4th quarter. Vanguard Group Inc. now owns 13,010,001 shares of the company's stock worth $116,960,000 after purchasing an additional 1,965,181 shares during the last quarter. Finally, State Street Corp grew its position in Intellia Therapeutics by 29.1% in the 4th quarter. State Street Corp now owns 6,418,836 shares of the company's stock worth $57,705,000 after purchasing an additional 1,447,967 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.

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