Wedbush Reiterates Neutral Rating for Intellia Therapeutics (NASDAQ:NTLA)

Wedbush reiterated their neutral rating on shares of Intellia Therapeutics (NASDAQ:NTLA - Free Report) in a research note released on Tuesday, Benzinga reports. The brokerage currently has a $29.00 price target on the stock.

Several other research analysts have also recently weighed in on NTLA. Canaccord Genuity Group boosted their price target on Intellia Therapeutics from $72.00 to $73.00 and gave the stock a buy rating in a research note on Friday, February 23rd. Wolfe Research started coverage on Intellia Therapeutics in a research report on Thursday, February 15th. They set a peer perform rating on the stock. Finally, The Goldman Sachs Group cut Intellia Therapeutics from a buy rating to a neutral rating and dropped their price objective for the stock from $136.00 to $32.00 in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Intellia Therapeutics currently has a consensus rating of Moderate Buy and a consensus target price of $67.00.

Intellia Therapeutics Trading Down 1.4 %

NTLA stock traded down $0.30 during trading hours on Tuesday, hitting $21.53. 848,960 shares of the stock were exchanged, compared to its average volume of 1,502,758. The company has a 50-day simple moving average of $27.05 and a two-hundred day simple moving average of $27.78. The firm has a market capitalization of $2.08 billion, a P/E ratio of -4.07 and a beta of 1.77. Intellia Therapeutics has a 12 month low of $20.78 and a 12 month high of $47.48.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, beating the consensus estimate of ($1.47) by $0.01. Intellia Therapeutics had a negative return on equity of 43.91% and a negative net margin of 893.34%. The firm had revenue of ($1.92) million during the quarter, compared to the consensus estimate of $15.10 million. During the same quarter in the previous year, the company posted ($1.40) earnings per share. On average, equities research analysts predict that Intellia Therapeutics will post -5.58 earnings per share for the current year.

Insider Buying and Selling at Intellia Therapeutics

In related news, EVP James Basta sold 2,297 shares of Intellia Therapeutics stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $32.99, for a total transaction of $75,778.03. Following the transaction, the executive vice president now owns 81,571 shares of the company's stock, valued at approximately $2,691,027.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On Intellia Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. ARK Investment Management LLC increased its stake in shares of Intellia Therapeutics by 14.7% in the fourth quarter. ARK Investment Management LLC now owns 11,412,449 shares of the company's stock valued at $347,966,000 after buying an additional 1,463,820 shares during the period. Rhenman & Partners Asset Management AB increased its holdings in Intellia Therapeutics by 1,600.0% in the 3rd quarter. Rhenman & Partners Asset Management AB now owns 850,000 shares of the company's stock worth $26,877,000 after acquiring an additional 800,000 shares during the last quarter. Norges Bank purchased a new position in Intellia Therapeutics during the 4th quarter valued at about $16,348,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Intellia Therapeutics in the 4th quarter worth approximately $9,086,000. Finally, Vestmark Advisory Solutions Inc. bought a new stake in Intellia Therapeutics in the fourth quarter valued at approximately $8,110,000. 88.77% of the stock is currently 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.