Intellia Therapeutics (NASDAQ:NTLA) Raised to "Hold" at Wall Street Zen

Key Points

• Intellia Therapeutics was upgraded from a "sell" to a "hold" rating by Wall Street Zen, indicating a more favorable outlook by analysts.
• Chardan Capital lowered its price target for Intellia from $68 to $60, while Wells Fargo also cut its target from $50 to $45, reflecting ongoing adjustments in market expectations.
• Insider transactions show that Director William J. Chase purchased 100,000 shares at $10.03 each, significantly increasing his stake in the company.

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

A number of other brokerages have also commented on NTLA. HC Wainwright cut their price objective on shares of Intellia Therapeutics from $30.00 to $25.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Citigroup decreased their price objective on shares of Intellia Therapeutics from $14.00 to $10.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Royal Bank Of Canada decreased their price objective on shares of Intellia Therapeutics from $25.00 to $21.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Canaccord Genuity Group decreased their price objective on shares of Intellia Therapeutics from $74.00 to $54.00 and set a "buy" rating for the company in a research report on Tuesday, June 3rd. Finally, Guggenheim reissued a "buy" rating and issued a $14.00 price objective on shares of Intellia Therapeutics in a research report on Wednesday, August 13th. Eleven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.11.

Intellia Therapeutics Stock Performance

Shares of NASDAQ:NTLA traded up $0.13 during midday trading on Friday, hitting $11.42. 5,058,837 shares of the company's stock traded hands, compared to its average volume of 3,991,886. The company has a market cap of $1.23 billion, a PE ratio of -2.43 and a beta of 2.28. The firm's fifty day moving average price is $11.61 and its two-hundred day moving average price is $9.61. Intellia Therapeutics has a twelve month low of $5.90 and a twelve month high of $23.76.

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

Insider Transactions at Intellia Therapeutics

In related news, Director William J. Chase bought 100,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were acquired at an average price of $10.03 per share, for a total transaction of $1,003,000.00. Following the purchase, the director owned 134,693 shares in the company, valued at $1,350,970.79. This trade represents a 288.24% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Edward J. Dulac III sold 7,462 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $14.02, for a total transaction of $104,617.24. Following the sale, the executive vice president owned 106,062 shares in the company, valued at approximately $1,486,989.24. This trade represents a 6.57% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,534 shares of company stock worth $153,837. Company insiders own 3.10% of the company's stock.

Hedge Funds Weigh In On Intellia Therapeutics

Several institutional investors have recently made changes to their positions in the stock. ARK Investment Management LLC grew its holdings in shares of Intellia Therapeutics by 3.8% during the first quarter. ARK Investment Management LLC now owns 13,011,015 shares of the company's stock valued at $92,508,000 after purchasing an additional 474,629 shares during the last quarter. Vanguard Group Inc. boosted its position in Intellia Therapeutics by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 10,752,031 shares of the company's stock valued at $76,447,000 after purchasing an additional 561,978 shares during the period. Geode Capital Management LLC boosted its position in Intellia Therapeutics by 5.1% during the 2nd quarter. Geode Capital Management LLC now owns 2,606,222 shares of the company's stock valued at $24,449,000 after purchasing an additional 126,049 shares during the period. Two Sigma Advisers LP boosted its position in Intellia Therapeutics by 94.5% during the 4th quarter. Two Sigma Advisers LP now owns 1,998,317 shares of the company's stock valued at $23,300,000 after purchasing an additional 970,700 shares during the period. Finally, Two Sigma Investments LP boosted its position in Intellia Therapeutics by 88.1% during the 4th quarter. Two Sigma Investments LP now owns 1,843,743 shares of the company's stock valued at $21,498,000 after purchasing an additional 863,363 shares during the period. 88.77% of the stock is owned by institutional investors.

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.