Intellia Therapeutics' (NTLA) Buy Rating Reiterated at HC Wainwright

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $30.00 price target on the stock. HC Wainwright's price target suggests a potential upside of 227.51% from the company's previous close.

A number of other research analysts have also recently weighed in on the stock. Wolfe Research upgraded shares of Intellia Therapeutics from a "peer perform" rating to an "outperform" rating and set a $21.00 target price on the stock in a research note on Monday, April 21st. Truist Financial decreased their price target on shares of Intellia Therapeutics from $90.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Wedbush reissued a "neutral" rating and issued a $10.00 price target on shares of Intellia Therapeutics in a report on Monday, May 19th. Barclays reduced their target price on shares of Intellia Therapeutics from $55.00 to $26.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Finally, Morgan Stanley lowered shares of Intellia Therapeutics from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $56.00 to $11.00 in a report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $36.90.

Intellia Therapeutics Trading Down 3.2%

Intellia Therapeutics stock traded down $0.30 during mid-day trading on Tuesday, reaching $9.16. The company had a trading volume of 2,184,137 shares, compared to its average volume of 2,568,653. Intellia Therapeutics has a fifty-two week low of $5.90 and a fifty-two week high of $28.18. The company has a market cap of $948.82 million, a P/E ratio of -1.68 and a beta of 2.33. The business has a fifty day simple moving average of $7.98 and a 200 day simple moving average of $10.55.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($1.10) earnings per share for the quarter, beating the consensus estimate of ($1.26) by $0.16. The company had revenue of $16.63 million during the quarter, compared to the consensus estimate of $11.39 million. The company's revenue for the quarter was down 42.6% on a year-over-year basis. During the same period last year, the firm posted ($1.12) earnings per share. Research analysts forecast that Intellia Therapeutics will post -5.07 EPS for the current year.

Hedge Funds Weigh In On Intellia Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ensign Peak Advisors Inc lifted its holdings in shares of Intellia Therapeutics by 2.9% during the fourth quarter. Ensign Peak Advisors Inc now owns 39,169 shares of the company's stock worth $457,000 after purchasing an additional 1,100 shares during the period. HighTower Advisors LLC increased its position in Intellia Therapeutics by 8.2% during the 1st quarter. HighTower Advisors LLC now owns 16,921 shares of the company's stock worth $120,000 after purchasing an additional 1,282 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Intellia Therapeutics by 14.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,863 shares of the company's stock worth $157,000 after buying an additional 1,582 shares during the last quarter. Arizona State Retirement System boosted its stake in Intellia Therapeutics by 6.1% in the 4th quarter. Arizona State Retirement System now owns 28,006 shares of the company's stock worth $327,000 after buying an additional 1,615 shares during the last quarter. Finally, E Fund Management Co. Ltd. boosted its stake in Intellia Therapeutics by 10.0% in the 4th quarter. E Fund Management Co. Ltd. now owns 18,053 shares of the company's stock worth $210,000 after buying an additional 1,634 shares during the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

About Intellia Therapeutics

Intellia Therapeutics, Inc, a genome editing company, focuses on the development of curative therapeutics. The company's in vivo programs include NTLA-2001, which is in Phase 1 clinical trial for the treatment of transthyretin amyloidosis; NTLA-2002 for the treatment of hereditary angioedema; and NTLA-3001 for alpha-1 antitrypsin deficiency associated lung disease.