Intellia Therapeutics (NASDAQ:NTLA) Given Underweight Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their underweight rating on shares of Intellia Therapeutics (NASDAQ:NTLA) in a report issued on Friday, Marketbeat Ratings reports. They currently have a $5.00 price objective on the stock, down from their prior price objective of $12.00.

Several other research analysts also recently issued reports on NTLA. Tudor Pickering set a $14.50 price objective on Intellia Therapeutics in a report on Tuesday, October 28th. Wells Fargo & Company restated an “equal weight” rating and set a $17.00 target price (down previously from $45.00) on shares of Intellia Therapeutics in a research report on Tuesday, October 28th. Bank of America cut their price target on Intellia Therapeutics from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, October 27th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $14.00 price objective (down from $21.00) on shares of Intellia Therapeutics in a research report on Tuesday, October 28th. Finally, Robert W. Baird set a $9.00 price objective on Intellia Therapeutics in a report on Thursday, October 30th. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $20.39.

Intellia Therapeutics Stock Down 22.7%

NASDAQ:NTLA traded down $2.80 during mid-day trading on Friday, reaching $9.52. 25,372,622 shares of the company were exchanged, compared to its average volume of 10,223,058. The stock has a market cap of $1.02 billion, a PE ratio of -2.23 and a beta of 2.44. Intellia Therapeutics has a 12 month low of $5.90 and a 12 month high of $28.25. The company has a fifty day moving average of $17.19 and a 200 day moving average of $12.47.

Intellia Therapeutics (NASDAQ:NTLA) last announced its earnings results on Thursday, November 6th. The company reported ($0.92) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.10. Intellia Therapeutics had a negative net margin of 774.94% and a negative return on equity of 56.28%. The company had revenue of $13.78 million for the quarter, compared to analyst estimates of $14.12 million. During the same period in the prior year, the business earned ($1.34) earnings per share. Intellia Therapeutics’s quarterly revenue was up 51.6% on a year-over-year basis. On average, equities research analysts anticipate that Intellia Therapeutics will post -5.07 EPS for the current fiscal year.

Insider Buying and Selling

In other Intellia Therapeutics news, CAO Michael P. Dube sold 1,871 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $17.38, for a total value of $32,517.98. Following the sale, the chief accounting officer directly owned 55,266 shares in the company, valued at approximately $960,523.08. This trade represents a 3.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William J. Chase purchased 100,000 shares of Intellia Therapeutics stock in a transaction dated Wednesday, August 20th. The shares were purchased at an average cost of $10.03 per share, for a total transaction of $1,003,000.00. Following the completion of the transaction, the director owned 134,693 shares of the company’s stock, valued at approximately $1,350,970.79. This represents a 288.24% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 3.10% of the company’s stock.

Institutional Trading of Intellia Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Intellia Therapeutics by 51.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,726 shares of the company’s stock valued at $140,000 after purchasing an additional 6,722 shares in the last quarter. D.A. Davidson & CO. increased its stake in Intellia Therapeutics by 76.2% during the 1st quarter. D.A. Davidson & CO. now owns 26,020 shares of the company’s stock worth $185,000 after purchasing an additional 11,250 shares in the last quarter. Voya Investment Management LLC raised its holdings in Intellia Therapeutics by 621.5% during the 1st quarter. Voya Investment Management LLC now owns 208,009 shares of the company’s stock worth $1,479,000 after buying an additional 179,180 shares during the period. Ballentine Partners LLC bought a new position in Intellia Therapeutics in the second quarter valued at approximately $161,000. Finally, Cyndeo Wealth Partners LLC bought a new position in Intellia Therapeutics in the second quarter valued at approximately $101,000. Institutional investors and hedge funds own 88.77% of the company’s stock.

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.