Intellia Therapeutics, Inc. (NASDAQ:NTLA) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts hold a mixed view of Intellia Therapeutics: Twenty-three analysts give the stock a consensus “Hold” rating, with 10 buys, eight holds, four sells, and one strong buy. The average 12-month price target is approximately $20.98, versus a recent share price of $12.22.
• Financial results remain weak: Intellia reported a quarterly loss of $0.80 per share, in line with estimates, but revenue of $7.66 million fell short of the $12.98 million forecast and declined 46.4% year over year. Analysts expect a full-year loss of $3.21 per share.
• Recent insider selling contrasts with strong institutional ownership: Two executives sold shares, with one sale attributed to tax withholding obligations, while institutional investors and hedge funds own 88.77% of the company. Intellia is developing CRISPR-based therapies including NTLA-2001 and NTLA-2002.

Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) has earned a consensus recommendation of "Hold" from the twenty-three analysts that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $20.9783.

Several research analysts have recently weighed in on NTLA shares. HC Wainwright reaffirmed a "buy" rating and set a $25.00 price objective on shares of Intellia Therapeutics in a research report on Wednesday, September 9th. Wall Street Zen lowered Intellia Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 8th. Wolfe Research cut Intellia Therapeutics from a "peer perform" rating to an "underperform" rating and set a $9.00 target price on the stock. in a research note on Wednesday, July 15th. Citigroup reaffirmed a "market outperform" rating on shares of Intellia Therapeutics in a research report on Tuesday, August 25th. Finally, Evercore raised shares of Intellia Therapeutics from a "hold" rating to an "outperform" rating and set a $24.00 price target for the company in a research note on Friday, August 7th.

Intellia Therapeutics Stock Up 0.7%

Shares of NASDAQ:NTLA opened at $12.22 on Tuesday. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -3.64 and a beta of 1.82. Intellia Therapeutics has a 12 month low of $7.95 and a 12 month high of $28.25. The company's fifty day simple moving average is $11.98 and its 200 day simple moving average is $13.31.

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

Insiders Place Their Bets

In other Intellia Therapeutics 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 sale, the executive vice president directly owned 156,286 shares in the company, valued at approximately $2,813,148. The trade was a 2.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Michael P. Dube sold 2,641 shares of the business's stock in a transaction dated 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 directly owned 66,886 shares in the company, valued at $1,122,347.08. This trade represents a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 Trading of Intellia Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Freestone Grove Partners LP acquired a new position in Intellia Therapeutics during the second quarter valued at approximately $33,000. Nykredit A S bought a new stake in shares of Intellia Therapeutics during the 2nd quarter worth approximately $33,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Intellia Therapeutics in the 2nd quarter valued at approximately $34,000. Fifth Third Bancorp acquired a new stake in shares of Intellia Therapeutics in the 1st quarter valued at approximately $38,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Intellia Therapeutics by 36.4% in the first quarter. PNC Financial Services Group Inc. now owns 3,552 shares of the company's stock valued at $46,000 after buying an additional 948 shares in the last quarter. Institutional investors and hedge funds own 88.77% of the company's stock.

About Intellia Therapeutics

Intellia Therapeutics, Inc is a biotechnology company focused on developing curative treatments using CRISPR-based gene-editing technology. The company's approach is designed to make targeted changes to disease-associated genes, including through in vivo therapies that edit genes directly inside the body.

Intellia's pipeline includes NTLA-2001, an investigational treatment designed to address transthyretin amyloidosis by editing the TTR gene, and NTLA-2002, an investigational therapy targeting hereditary angioedema through editing of the KLKB1 gene.

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