Intellia Therapeutics' (NTLA) "Buy" Rating Reaffirmed at HC Wainwright

Key Points

• HC Wainwright reaffirmed a “buy” rating on Intellia Therapeutics and set a $25 price target, implying approximately 96% upside from the stock’s $12.74 opening price.
• Analyst sentiment is mixed: MarketBeat reports a consensus rating of “Hold” and an average price target of $21.15, despite several firms maintaining “buy” or “outperform” ratings.
• Intellia’s latest quarter met the expected loss of $0.80 per share, but revenue of $7.66 million missed estimates and declined 46.4% year over year; institutional investors own 88.77% of the company.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report)'s stock had its "buy" rating restated by analysts at HC Wainwright in a research note issued on Wednesday, Benzinga reports. They currently have a $25.00 target price on the stock. HC Wainwright's price target suggests a potential upside of 96.23% from the company's current price.

Several other analysts have also recently issued reports on the stock. Citizens Jmp reissued a "market outperform" rating and set a $30.00 price target on shares of Intellia Therapeutics in a research report on Tuesday, August 25th. Evercore upgraded Intellia Therapeutics from a "hold" rating to an "outperform" rating and set a $24.00 price objective on the stock in a research note on Friday, August 7th. Canaccord Genuity Group restated a "buy" rating and set a $49.00 price target on shares of Intellia Therapeutics in a report on Tuesday, June 16th. Sanford C. Bernstein increased their price target on Intellia Therapeutics from $13.00 to $17.00 and gave the company a "market perform" rating in a research report on Wednesday, May 13th. Finally, Citigroup reissued a "market outperform" rating on shares of Intellia Therapeutics in a research report on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, Intellia Therapeutics presently has a consensus rating of "Hold" and a consensus target price of $21.15.

Intellia Therapeutics Price Performance

NTLA stock opened at $12.74 on Wednesday. Intellia Therapeutics has a 1 year low of $7.95 and a 1 year high of $28.25. The firm has a market capitalization of $1.79 billion, a PE ratio of -3.79 and a beta of 1.82. The business has a 50 day simple moving average of $12.78 and a 200-day simple moving average of $13.42.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Intellia Therapeutics during the second quarter worth $260,721,000. ARK Investment Management LLC raised its stake in shares of Intellia Therapeutics by 19.2% during the 4th quarter. ARK Investment Management LLC now owns 14,207,324 shares of the company's stock worth $127,724,000 after buying an additional 2,288,146 shares in the last quarter. Vanguard Group Inc. grew its holdings in Intellia Therapeutics by 17.8% during the fourth quarter. Vanguard Group Inc. now owns 13,010,001 shares of the company's stock worth $116,960,000 after acquiring an additional 1,965,181 shares during the period. State Street Corp lifted its holdings in Intellia Therapeutics by 29.1% in the fourth quarter. State Street Corp now owns 6,418,836 shares of the company's stock valued at $57,705,000 after acquiring an additional 1,447,967 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Intellia Therapeutics by 4.1% during the 4th quarter. Geode Capital Management LLC now owns 2,696,187 shares of the company's stock worth $24,243,000 after purchasing an additional 107,333 shares during the period. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

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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