Intellia Therapeutics (NASDAQ:NTLA) Upgraded at Truist Financial

Truist Financial upgraded shares of Intellia Therapeutics (NASDAQ:NTLA) to a strong-buy rating in a report issued on Wednesday,Zacks.com reports.

Several other equities research analysts have also issued reports on the company. Robert W. Baird set a $7.00 price target on Intellia Therapeutics in a report on Tuesday, January 27th. restated a “buy” rating on shares of Intellia Therapeutics in a report on Tuesday, March 3rd. Citizens Jmp raised their price objective on shares of Intellia Therapeutics from $21.00 to $28.00 and gave the company a “market outperform” rating in a research report on Tuesday, March 3rd. Canaccord Genuity Group reduced their target price on shares of Intellia Therapeutics from $54.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Finally, Royal Bank Of Canada boosted their target price on shares of Intellia Therapeutics from $9.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Intellia Therapeutics presently has an average rating of “Hold” and a consensus price target of $19.59.

Intellia Therapeutics Trading Down 6.6%

Shares of NASDAQ:NTLA opened at $12.37 on Wednesday. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of -3.23 and a beta of 2.10. Intellia Therapeutics has a 1 year low of $5.90 and a 1 year high of $28.25. The business has a fifty day simple moving average of $13.16 and a 200 day simple moving average of $13.32.

Intellia Therapeutics (NASDAQ:NTLA) last issued its earnings results on Thursday, February 26th. The company reported ($0.83) EPS for the quarter, beating analysts’ consensus estimates of ($0.99) by $0.16. Intellia Therapeutics had a negative return on equity of 56.81% and a negative net margin of 609.85%.The firm had revenue of $23.02 million for the quarter, compared to the consensus estimate of $12.17 million. During the same quarter in the previous year, the company posted ($1.27) earnings per share. The business’s quarterly revenue was up 78.4% compared to the same quarter last year. On average, sell-side analysts forecast that Intellia Therapeutics will post -5.07 EPS for the current year.

Insider Activity

In related news, EVP Birgit C. Schultes sold 8,508 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $9.21, for a total value of $78,358.68. Following the completion of the sale, the executive vice president directly owned 98,533 shares in the company, valued at approximately $907,488.93. The trade was a 7.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James Basta sold 10,397 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $9.21, for a total value of $95,756.37. Following the sale, the executive vice president directly owned 101,528 shares of the company’s stock, valued at $935,072.88. The trade was a 9.29% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 53,051 shares of company stock valued at $488,600. Insiders own 3.10% of the company’s stock.

Institutional Trading of Intellia Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. ARK Investment Management LLC boosted its holdings in shares of Intellia Therapeutics by 19.2% during the 4th quarter. ARK Investment Management LLC now owns 14,207,324 shares of the company’s stock worth $127,724,000 after buying an additional 2,288,146 shares during the period. Vanguard Group Inc. raised its holdings in Intellia Therapeutics by 17.8% in the 4th quarter. Vanguard Group Inc. now owns 13,010,001 shares of the company’s stock worth $116,960,000 after acquiring an additional 1,965,181 shares during the period. State Street Corp lifted its position in Intellia Therapeutics by 29.1% during the 4th quarter. State Street Corp now owns 6,418,836 shares of the company’s stock worth $57,705,000 after acquiring an additional 1,447,967 shares during the last quarter. Contrarius Group Holdings Ltd lifted its position in shares of Intellia Therapeutics by 279.4% during the 3rd quarter. Contrarius Group Holdings Ltd now owns 5,889,936 shares of the company’s stock worth $101,719,000 after purchasing an additional 4,337,428 shares during the last quarter. Finally, Baker BROS. Advisors LP boosted its position in shares of Intellia Therapeutics by 2.7% in the third quarter. Baker BROS. Advisors LP now owns 2,746,674 shares of the company’s stock valued at $47,435,000 after acquiring an additional 71,000 shares during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

About Intellia Therapeutics

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.