Intellia Therapeutics (NASDAQ:NTLA) Upgraded at William Blair

Intellia Therapeutics (NASDAQ:NTLA) was upgraded by equities research analysts at William Blair from a “market perform” rating to an “outperform” rating in a research report issued on Monday.

A number of other brokerages have also recently issued reports on NTLA. KeyCorp set a $25.00 target price on Intellia Therapeutics in a report on Wednesday, January 28th. Wolfe Research reiterated a “peer perform” rating on shares of Intellia Therapeutics in a research report on Wednesday, November 12th. Royal Bank Of Canada cut their price objective on Intellia Therapeutics from $14.00 to $9.00 and set a “sector perform” rating for the company in a report on Friday, November 7th. Robert W. Baird set a $7.00 target price on shares of Intellia Therapeutics in a report on Tuesday, January 27th. Finally, HC Wainwright increased their target price on shares of Intellia Therapeutics from $15.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Eight research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $17.90.

Intellia Therapeutics Stock Performance

Shares of NTLA stock traded up $1.49 during mid-day trading on Monday, reaching $15.27. The company’s stock had a trading volume of 9,479,994 shares, compared to its average volume of 5,269,262. The firm’s 50-day moving average is $11.89 and its two-hundred day moving average is $13.05. The company has a market cap of $1.77 billion, a P/E ratio of -3.97 and a beta of 2.10. Intellia Therapeutics has a 1-year low of $5.90 and a 1-year high of $28.25.

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

Insider Activity

In other Intellia Therapeutics news, EVP James Basta sold 10,397 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $9.21, for a total value of $95,756.37. Following the transaction, the executive vice president owned 101,528 shares of the company’s stock, valued at approximately $935,072.88. This represents a 9.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John M. Leonard sold 34,146 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $9.21, for a total value of $314,484.66. Following the transaction, the chief executive officer owned 1,013,339 shares of the company’s stock, valued at $9,332,852.19. The trade was a 3.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 53,051 shares of company stock valued at $488,600. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

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

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.