Intellia Therapeutics (NASDAQ:NTLA) Stock Rating Upgraded by Citizens Jmp

Key Points

• Intellia Therapeutics received an upgrade from Citizens Jmp, moving from a "market perform" rating to an "outperform" rating, with a price target of $33.00, suggesting a potential upside of 65.33% from the current stock price.
• Thirteen analysts currently rate Intellia stock as a Buy, while the average price target stands at $27.95, which indicates strong market confidence in the company's future performance.
• In its most recent quarterly earnings report, Intellia Therapeutics reported a 104.3% year-over-year increase in revenue, amounting to $14.25 million, while EPS improved to ($0.99), beating estimates.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) was upgraded by investment analysts at Citizens Jmp from a "market perform" rating to an "outperform" rating in a research note issued to investors on Monday,Finviz reports. The firm currently has a $33.00 price target on the stock. Citizens Jmp's price objective indicates a potential upside of 65.33% from the stock's current price.

NTLA has been the subject of a number of other reports. HC Wainwright upped their target price on Intellia Therapeutics from $25.00 to $30.00 and gave the company a "buy" rating in a research report on Friday, September 19th. Weiss Ratings restated a "sell (d-)" rating on shares of Intellia Therapeutics in a research note on Saturday, September 27th. Guggenheim reissued a "buy" rating and issued a $14.00 price target on shares of Intellia Therapeutics in a report on Wednesday, August 13th. Wedbush restated a "neutral" rating and set a $7.00 target price on shares of Intellia Therapeutics in a report on Monday, June 16th. Finally, Royal Bank Of Canada decreased their target price on shares of Intellia Therapeutics from $25.00 to $21.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Thirteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $27.95.

Intellia Therapeutics Trading Down 2.3%

Shares of NASDAQ NTLA opened at $19.96 on Monday. The company has a market cap of $2.14 billion, a PE ratio of -4.26 and a beta of 2.37. The stock has a 50 day simple moving average of $12.88 and a 200-day simple moving average of $10.33. Intellia Therapeutics has a 12-month low of $5.90 and a 12-month high of $21.47.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.99) earnings per share for the quarter, beating analysts' consensus estimates of ($1.03) by $0.04. Intellia Therapeutics had a negative net margin of 908.48% and a negative return on equity of 57.48%. The business had revenue of $14.25 million for the quarter, compared to the consensus estimate of $12.26 million. During the same quarter last year, the firm earned ($1.52) EPS. Intellia Therapeutics's revenue for the quarter was up 104.3% on a year-over-year basis. Sell-side analysts forecast that Intellia Therapeutics will post -5.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Intellia Therapeutics

In related news, EVP Edward J. Dulac III sold 7,462 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $14.02, for a total transaction of $104,617.24. Following the transaction, the executive vice president directly owned 106,062 shares of the company's stock, valued at approximately $1,486,989.24. This represents a 6.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William J. Chase acquired 100,000 shares of Intellia Therapeutics stock in a transaction on Wednesday, August 20th. The shares were purchased at an average cost of $10.03 per share, with a total value of $1,003,000.00. Following the completion of the acquisition, the director owned 134,693 shares of the company's stock, valued at $1,350,970.79. This trade represents a 288.24% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 9,364 shares of company stock worth $137,674 over the last quarter. 3.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intellia Therapeutics

A number of institutional investors have recently made changes to their positions in NTLA. ARK Investment Management LLC increased its stake in shares of Intellia Therapeutics by 3.8% in the 1st quarter. ARK Investment Management LLC now owns 13,011,015 shares of the company's stock worth $92,508,000 after purchasing an additional 474,629 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Intellia Therapeutics by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 10,752,031 shares of the company's stock valued at $76,447,000 after acquiring an additional 561,978 shares during the period. Geode Capital Management LLC boosted its stake in Intellia Therapeutics by 5.1% in the 2nd quarter. Geode Capital Management LLC now owns 2,606,222 shares of the company's stock worth $24,449,000 after purchasing an additional 126,049 shares in the last quarter. JPMorgan Chase & Co. raised its position in Intellia Therapeutics by 73.0% during the second quarter. JPMorgan Chase & Co. now owns 940,483 shares of the company's stock valued at $8,822,000 after acquiring an additional 396,858 shares in the last quarter. Finally, Armistice Capital LLC increased its position in shares of Intellia Therapeutics by 78.6% during the second quarter. Armistice Capital LLC now owns 650,000 shares of the company's stock worth $6,097,000 after purchasing an additional 286,000 shares in the last quarter. Hedge funds and other institutional investors own 88.77% of the company's stock.

Intellia Therapeutics Company Profile

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.

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