Intellia Therapeutics (NASDAQ:NTLA) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Intellia Therapeutics from “sell” to “strong sell,” while broader analyst sentiment remains “Hold” with a consensus price target of $20.85.
• NTLA opened at $11.94, below its 50-day and 200-day moving averages, and has traded between $7.95 and $28.25 over the past year. The company reported quarterly revenue of $7.66 million, below the $12.98 million estimate, although its loss per share matched expectations at $0.80.
• Several company insiders sold shares in July, though one transaction was made to cover tax obligations. Institutional investors and hedge funds own approximately 88.77% of Intellia’s stock.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) was downgraded by Wall Street Zen from a "sell" rating to a "strong sell" rating in a note issued to investors on Saturday.

NTLA has been the topic of a number of other research reports. HC Wainwright reiterated a "buy" rating and set a $25.00 price objective on shares of Intellia Therapeutics in a research report on Monday, June 15th. Chardan Capital raised their target price on Intellia Therapeutics from $27.00 to $30.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. Citizens Jmp reaffirmed a "market outperform" rating and issued a $30.00 target price on shares of Intellia Therapeutics in a research note on Monday, June 15th. Wedbush lifted their price target on Intellia Therapeutics from $12.00 to $17.00 and gave the stock a "neutral" rating in a report on Friday, July 10th. Finally, Wolfe Research cut 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 investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Intellia Therapeutics presently has an average rating of "Hold" and a consensus price target of $20.85.

Intellia Therapeutics Price Performance

NTLA opened at $11.94 on Friday. The company's 50 day simple moving average is $13.65 and its two-hundred day simple moving average is $13.48. 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 $1.67 billion, a price-to-earnings ratio of -3.55 and a beta of 1.81.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share for the quarter, hitting the consensus estimate 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 return on equity of 58.80% and a negative net margin of 672.16%.The business's revenue for the quarter was down 46.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.98) EPS. On average, equities analysts anticipate that Intellia Therapeutics will post -3.18 earnings per share for the current fiscal year.

Insider Activity 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 value of $84,186.00. Following the completion of the transaction, the executive vice president directly owned 156,286 shares in the company, valued at approximately $2,813,148. This represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Michael P. Dube sold 2,641 shares of the firm's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $16.78, for a total value of $44,315.98. Following the sale, the chief accounting officer directly owned 66,886 shares of the company's stock, valued at approximately $1,122,347.08. This trade represents a 3.80% decrease in their position. 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. Corporate 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 business. Wesbanco Bank Inc. purchased a new stake in shares of Intellia Therapeutics in the 4th quarter valued at approximately $575,000. Canal Insurance CO boosted its position in shares of Intellia Therapeutics by 130.0% during the 1st quarter. Canal Insurance CO now owns 230,000 shares of the company's stock worth $2,949,000 after purchasing an additional 130,000 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Intellia Therapeutics in the 1st quarter valued at approximately $1,809,000. Massachusetts Financial Services Co. MA acquired a new stake in Intellia Therapeutics in the 4th quarter valued at approximately $318,000. Finally, GSA Capital Partners LLP increased its holdings in Intellia Therapeutics by 210.4% in the 4th quarter. GSA Capital Partners LLP now owns 233,080 shares of the company's stock valued at $2,095,000 after purchasing an additional 157,989 shares during the last quarter. 88.77% of the stock is 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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