Intellia Therapeutics (NASDAQ:NTLA) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of Intellia Therapeutics (NASDAQ:NTLA) from a sell rating to a strong sell rating in a research report report published on Saturday morning.

A number of other research analysts also recently weighed in on the company. Leerink Partners set a $35.00 price target on Intellia Therapeutics in a research note on Monday, April 27th. The Goldman Sachs Group upped their price objective on Intellia Therapeutics from $8.00 to $9.00 and gave the company a “sell” rating in a report on Tuesday, April 28th. Citigroup reissued a “market outperform” rating on shares of Intellia Therapeutics in a research note on Monday, June 15th. Wolfe Research cut Intellia Therapeutics from a “peer perform” rating to an “underperform” rating and set a $9.00 target price on the stock. in a report on Wednesday, July 15th. Finally, New Street Research set a $25.00 target price on Intellia Therapeutics in a research report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.85.

Intellia Therapeutics Price Performance

NTLA opened at $12.02 on Friday. The firm has a 50 day simple moving average of $13.61 and a 200 day simple moving average of $13.48. Intellia Therapeutics has a fifty-two week low of $7.95 and a fifty-two week high of $28.25. The company has a market cap of $1.68 billion, a price-to-earnings ratio of -3.58 and a beta of 1.81.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.80). Intellia Therapeutics had a negative net margin of 672.16% and a negative return on equity of 57.79%. The firm had revenue of $7.66 million for the quarter, compared to analysts’ expectations of $12.98 million. During the same period last year, the firm earned ($0.98) earnings per share. The business’s revenue for the quarter was down 46.4% on a year-over-year basis. As a group, analysts expect that Intellia Therapeutics will post -3.18 EPS for the current year.

Insider Activity at Intellia Therapeutics

In related news, CAO Michael P. Dube sold 2,641 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $16.78, for a total value of $44,315.98. Following the completion of the transaction, the chief accounting officer directly owned 66,886 shares in the company, valued at approximately $1,122,347.08. The trade was a 3.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Edward J. Dulac III sold 4,677 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $18.00, for a total transaction of $84,186.00. Following the sale, the executive vice president owned 156,286 shares in the company, valued at $2,813,148. This trade represents a 2.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intellia Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. lifted its position in Intellia Therapeutics by 0.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 105,165 shares of the company’s stock worth $945,000 after buying an additional 808 shares in the last quarter. Comerica Bank grew its holdings in shares of Intellia Therapeutics by 45.8% in the 4th quarter. Comerica Bank now owns 2,869 shares of the company’s stock valued at $26,000 after acquiring an additional 901 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Intellia Therapeutics by 36.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,552 shares of the company’s stock valued at $46,000 after acquiring an additional 948 shares in the last quarter. Wealthfront Advisers LLC increased its position in shares of Intellia Therapeutics by 7.6% in the first quarter. Wealthfront Advisers LLC now owns 14,450 shares of the company’s stock valued at $185,000 after acquiring an additional 1,018 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its position in shares of Intellia Therapeutics by 1.8% in the second quarter. Benjamin Edwards Inc. now owns 63,034 shares of the company’s stock valued at $591,000 after acquiring an additional 1,126 shares during the last quarter. 88.77% of the stock is owned by institutional investors.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc (NASDAQ: NTLA) is a clinical‐stage biotechnology company focused on developing potentially curative genome editing therapies using the CRISPR/Cas9 platform. The company’s research spans both in vivo and ex vivo applications of CRISPR/Cas9, aiming to correct or disable disease‐causing genes with a single administration. Intellia’s lead in vivo program targets transthyretin amyloidosis (ATTR) by delivering CRISPR/Cas9 machinery directly to the liver, while additional preclinical efforts pursue treatments for hemophilia A, hereditary angioedema and other genetic disorders.

Beyond its in vivo pipeline, Intellia collaborates with strategic partners to extend the impact of its genome editing approach.