Intellia Therapeutics, Inc. (NTLA) Upgraded to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) from a sell rating to a hold rating in a report issued on Wednesday.
According to Zacks, “Intellia Therapeutics is a leading genome editing company, focused on developing therapeutics utilizing a biological tool known as CRISPR-Cas9 system. It believes the CRISPR-Cas9 technology has the potential to transform medicine by permanently editing disease-associated genes in the human body with a single treatment course. The Cas9 protein acts like a pair of molecular scissors that initiates the natural cellular repair process to knockout, repair or insert a gene. The guide RNA sequence recognizes and directs the Cas9 to a specific target deoxyribonucleic acid (DNA) sequence. The Company’s sentinel in vivo programs focus on the use of Lipid Nanoparticle (LNPs) for delivery of the CRISPR/Cas9 complex to the liver. Intellia’s combination of deep scientific, technical and clinical development experience, along with its leading intellectual property portfolio, puts it in a unique position to unlock broad therapeutic applications of the CRISPR-Cas9 technology and create a new class of therapeutic products. “
NTLA has been the topic of several other reports. ValuEngine raised shares of Intellia Therapeutics from a sell rating to a hold rating in a report on Friday, September 22nd. Wedbush reaffirmed an ourperform rating and set a $25.00 price objective (down from $29.00) on shares of Intellia Therapeutics in a report on Wednesday, September 27th. Jefferies Group LLC reaffirmed a buy rating and set a $36.00 price objective on shares of Intellia Therapeutics in a report on Tuesday, October 3rd. Cann reaffirmed a market perform rating on shares of Intellia Therapeutics in a report on Monday, July 17th. Finally, Barclays PLC initiated coverage on shares of Intellia Therapeutics in a report on Wednesday, September 6th. They set an overweight rating and a $29.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $26.80.
Intellia Therapeutics (NASDAQ:NTLA) opened at 30.93 on Wednesday. The company’s market capitalization is $1.12 billion. Intellia Therapeutics has a 52-week low of $10.83 and a 52-week high of $31.90. The company’s 50-day moving average is $24.93 and its 200-day moving average is $24.93.
Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings data on Thursday, August 3rd. The company reported ($0.45) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.03). The business had revenue of $5.90 million for the quarter, compared to analysts’ expectations of $5.83 million. Intellia Therapeutics had a negative net margin of 204.48% and a negative return on equity of 22.70%. The firm’s revenue was up 40.5% compared to the same quarter last year. On average, analysts expect that Intellia Therapeutics will post ($1.78) earnings per share for the current fiscal year.
In other news, major shareholder Venture Fund Ix L.P. Atlas sold 150,000 shares of the company’s stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $16.24, for a total transaction of $2,436,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 12.80% of the company’s stock.
Several hedge funds have recently bought and sold shares of NTLA. SG Americas Securities LLC bought a new position in shares of Intellia Therapeutics in the second quarter worth approximately $101,000. IHT Wealth Management LLC bought a new position in shares of Intellia Therapeutics in the first quarter worth approximately $117,000. Bank of Montreal Can increased its position in shares of Intellia Therapeutics by 1,031.7% in the second quarter. Bank of Montreal Can now owns 7,922 shares of the company’s stock worth $127,000 after purchasing an additional 7,222 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of Intellia Therapeutics by 117.7% in the second quarter. Nationwide Fund Advisors now owns 8,048 shares of the company’s stock worth $129,000 after purchasing an additional 4,351 shares during the last quarter. Finally, Nisa Investment Advisors LLC bought a new position in shares of Intellia Therapeutics in the second quarter worth approximately $134,000. Institutional investors own 46.52% of the company’s stock.
About Intellia Therapeutics
Intellia Therapeutics, Inc is a genome editing company. The Company is focused on developing therapeutics utilizing a biological tool known as CRISPR/Cas9. The CRISPR/Cas9 genome editing system includes two components: the Cas9 protein and the guide RNA sequence. The Cas9 protein acts like a pair of molecular scissors that initiates the natural cellular repair process to knockout, repair or insert a gene.
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