Intellia Therapeutics (NASDAQ:NTLA) Upgraded at Barclays

Key Points

• Barclays rated Intellia Therapeutics “strong sell” and set an $8.00 price target, implying 31.68% downside from the prior close.
• Analyst opinion remains mixed, with a consensus rating of “Hold” and an average price target of $20.72; other firms maintain Buy or Market Outperform ratings.
• Intellia shares fell 5.3% to open at $11.71, while the company reported a quarterly loss of $0.80 per share and $7.66 million in revenue, down 46.4% year over year.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) was upgraded by investment analysts at Barclays to a "strong sell" rating in a report released on Tuesday, Marketbeat.com reports. The brokerage currently has a $8.00 price objective on the stock. Barclays's price target would indicate a potential downside of 31.68% from the company's previous close.

Several other research firms have also commented on NTLA. Citizens Jmp restated a "market outperform" rating and set a $30.00 price target on shares of Intellia Therapeutics in a research report on Wednesday, September 9th. Wall Street Zen downgraded shares of Intellia Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 8th. Canaccord Genuity Group restated a "buy" rating and set a $49.00 target price on shares of Intellia Therapeutics in a research report on Tuesday, June 16th. HC Wainwright restated a "buy" rating and set a $25.00 target price on shares of Intellia Therapeutics in a research report on Wednesday, September 9th. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Intellia Therapeutics in a report on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, Intellia Therapeutics presently has a consensus rating of "Hold" and a consensus price target of $20.72.

Intellia Therapeutics Trading Down 5.3%

Intellia Therapeutics stock opened at $11.71 on Tuesday. Intellia Therapeutics has a 12 month low of $7.95 and a 12 month high of $28.25. The stock's 50 day simple moving average is $12.15 and its two-hundred day simple moving average is $13.21. The firm has a market cap of $1.64 billion, a PE ratio of -3.49 and a beta of 1.80.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.80) EPS for the quarter, hitting analysts' consensus estimates of ($0.80). The business had revenue of $7.66 million for the quarter, compared to analysts' expectations of $12.98 million. Intellia Therapeutics had a negative net margin of 672.16% and a negative return on equity of 57.79%. The business's revenue was down 46.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.98) EPS. On average, equities research analysts forecast that Intellia Therapeutics will post -3.21 EPS for the current year.

Hedge Funds Weigh In On Intellia Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its position in shares of Intellia Therapeutics by 11.2% in the first quarter. Bank of America Corp DE now owns 1,381,703 shares of the company's stock valued at $17,713,000 after acquiring an additional 139,325 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Intellia Therapeutics by 1,082.1% in the first quarter. Royal Bank of Canada now owns 465,499 shares of the company's stock worth $5,968,000 after acquiring an additional 426,121 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Intellia Therapeutics during the second quarter worth approximately $1,595,000. BlackRock Inc. purchased a new stake in shares of Intellia Therapeutics during the second quarter worth approximately $260,721,000. Finally, Bank of New York Mellon Corp acquired a new position in Intellia Therapeutics in the 2nd quarter valued at $6,948,000. 88.77% of the stock is owned by hedge funds and other institutional investors.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc is a biotechnology company focused on developing genome-editing therapies using CRISPR/Cas9 technology. The company is working to create treatments that can directly modify disease-causing genes, including through in vivo approaches in which the editing machinery is delivered into a patient's body.

Its pipeline has included NTLA-2001, an investigational therapy designed to reduce production of transthyretin for the treatment of transthyretin amyloidosis, and NTLA-2002, an investigational program targeting kallikrein for hereditary angioedema.

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