Intellia Therapeutics (NASDAQ:NTLA) Given "Market Perform" Rating at JMP Securities

Key Points

• JMP Securities has reaffirmed a "market perform" rating for Intellia Therapeutics (NASDAQ: NTLA), indicating a cautious outlook amid various price target adjustments from other analysts.
• Intellia reported a quarterly loss of ($0.99) earnings per share, which was better than expected, and experienced a 104.3% year-over-year revenue increase, totaling $14.25 million for the quarter.
• Insider activity includes significant buying, with Director William J. Chase acquiring 100,000 shares at an average price of $10.03, increasing his total ownership by over 288%.

JMP Securities restated their market perform rating on shares of Intellia Therapeutics (NASDAQ:NTLA - Free Report) in a research note issued to investors on Friday,Benzinga reports.

Several other research firms have also recently commented on NTLA. Wells Fargo & Company reaffirmed an "overweight" rating and set a $45.00 target price (down previously from $50.00) on shares of Intellia Therapeutics in a research note on Friday, August 8th. Wall Street Zen raised Intellia Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. Royal Bank Of Canada decreased their target price on Intellia Therapeutics from $25.00 to $21.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Canaccord Genuity Group decreased their target price on Intellia Therapeutics from $74.00 to $54.00 and set a "buy" rating for the company in a research note on Tuesday, June 3rd. Finally, Wedbush reissued a "neutral" rating and issued a $7.00 price objective on shares of Intellia Therapeutics in a research note on Monday, June 16th. Eleven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Intellia Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $27.39.

Intellia Therapeutics Trading Down 3.2%

NASDAQ NTLA traded down $0.52 during trading hours on Friday, hitting $15.59. 15,251,399 shares of the company's stock were exchanged, compared to its average volume of 4,807,543. The stock has a 50-day simple moving average of $11.84 and a 200 day simple moving average of $9.74. Intellia Therapeutics has a 1-year low of $5.90 and a 1-year high of $22.70. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of -3.32 and a beta of 2.28.

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

Insiders Place Their Bets

In other Intellia Therapeutics news, Director William J. Chase purchased 100,000 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were acquired at an average cost of $10.03 per share, for a total transaction 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. The trade was a 288.24% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Edward J. Dulac III sold 7,462 shares of Intellia Therapeutics stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $14.02, for a total value of $104,617.24. Following the sale, the executive vice president owned 106,062 shares in the company, valued at $1,486,989.24. This trade represents a 6.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,534 shares of company stock worth $153,837 over the last quarter. 3.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Intellia Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. raised its stake in shares of Intellia Therapeutics by 13.4% in the second quarter. Osaic Holdings Inc. now owns 20,064 shares of the company's stock valued at $188,000 after buying an additional 2,373 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in shares of Intellia Therapeutics in the second quarter valued at $52,000. Marex Group plc bought a new stake in shares of Intellia Therapeutics in the second quarter valued at $5,849,000. Headlands Technologies LLC bought a new stake in shares of Intellia Therapeutics in the second quarter valued at $26,000. Finally, CANADA LIFE ASSURANCE Co raised its stake in shares of Intellia Therapeutics by 89.7% in the second quarter. CANADA LIFE ASSURANCE Co now owns 21,752 shares of the company's stock valued at $204,000 after buying an additional 10,283 shares during the period. 88.77% of the stock is currently owned by institutional investors.

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.