Royal Bank Of Canada Issues Pessimistic Forecast for Intellia Therapeutics (NASDAQ:NTLA) Stock Price

Intellia Therapeutics (NASDAQ:NTLA) had its price objective decreased by investment analysts at Royal Bank Of Canada from $14.00 to $9.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target suggests a potential downside of 4.61% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $5.00 price target (down previously from $12.00) on shares of Intellia Therapeutics in a research report on Friday. Citigroup restated a “market outperform” rating on shares of Intellia Therapeutics in a research report on Tuesday, October 28th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $17.00 price target (down from $45.00) on shares of Intellia Therapeutics in a research report on Tuesday, October 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intellia Therapeutics in a research note on Wednesday, October 8th. Finally, JMP Securities cut their price objective on shares of Intellia Therapeutics from $33.00 to $29.00 and set a “market outperform” rating for the company in a research report on Tuesday, October 28th. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $21.35.

Intellia Therapeutics Trading Down 23.4%

NASDAQ:NTLA traded down $2.89 during trading hours on Friday, reaching $9.44. The company had a trading volume of 21,543,798 shares, compared to its average volume of 5,089,754. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -2.01 and a beta of 2.44. The firm’s 50 day moving average price is $17.23 and its 200-day moving average price is $12.46. Intellia Therapeutics has a 52 week low of $5.90 and a 52 week high of $28.25.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.92) EPS for the quarter, topping the consensus estimate of ($1.02) by $0.10. The company had revenue of $13.78 million during the quarter, compared to analyst estimates of $14.12 million. Intellia Therapeutics had a negative return on equity of 57.48% and a negative net margin of 908.48%.Intellia Therapeutics’s revenue was up 51.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.34) earnings per share. On average, analysts forecast that Intellia Therapeutics will post -5.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Intellia Therapeutics

In other Intellia Therapeutics news, CAO Michael P. Dube sold 1,871 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $17.38, for a total transaction of $32,517.98. Following the sale, the chief accounting officer directly owned 55,266 shares of the company’s stock, valued at $960,523.08. This trade represents a 3.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William J. Chase acquired 100,000 shares of the stock in a transaction dated Wednesday, August 20th. The stock was acquired at an average price of $10.03 per share, for a total transaction of $1,003,000.00. Following the completion of the transaction, the director directly 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. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Intellia Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Intellia Therapeutics in the first quarter worth $98,000. Cambridge Investment Research Advisors Inc. grew its position in shares of Intellia Therapeutics by 51.7% during the first 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. Allspring Global Investments Holdings LLC increased its holdings in shares of Intellia Therapeutics by 30.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 16,798 shares of the company’s stock worth $112,000 after purchasing an additional 3,935 shares during the last quarter. D.A. Davidson & CO. lifted its position in shares of Intellia Therapeutics by 76.2% in the first quarter. D.A. Davidson & CO. now owns 26,020 shares of the company’s stock worth $185,000 after buying an additional 11,250 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Intellia Therapeutics by 9.7% in the first quarter. Envestnet Asset Management Inc. now owns 73,150 shares of the company’s stock worth $520,000 after buying an additional 6,496 shares in the last quarter. Institutional investors 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.