Wedbush Reiterates Neutral Rating for Intellia Therapeutics (NASDAQ:NTLA)

Intellia Therapeutics (NASDAQ:NTLA)‘s stock had its “neutral” rating reissued by Wedbush in a research report issued on Tuesday,Benzinga reports. They currently have a $12.00 target price on the stock. Wedbush’s target price would suggest a potential downside of 16.78% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. KeyCorp set a $25.00 target price on shares of Intellia Therapeutics in a report on Wednesday, January 28th. William Blair raised shares of Intellia Therapeutics from a “market perform” rating to an “outperform” rating in a report on Monday, March 2nd. Bank of America reissued a “neutral” rating on shares of Intellia Therapeutics in a report on Monday, March 2nd. Robert W. Baird boosted their target price on shares of Intellia Therapeutics from $7.00 to $13.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Finally, Wall Street Zen raised shares of Intellia Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.77.

Intellia Therapeutics Trading Up 2.3%

NASDAQ:NTLA opened at $14.42 on Tuesday. The stock has a market capitalization of $1.74 billion, a PE ratio of -3.77 and a beta of 1.93. The firm’s 50 day moving average is $13.67 and its 200 day moving average is $12.22. Intellia Therapeutics has a 12 month low of $6.83 and a 12 month high of $28.25.

Intellia Therapeutics (NASDAQ:NTLA) last issued its earnings results on Monday, May 11th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.10. Intellia Therapeutics had a negative net margin of 609.85% and a negative return on equity of 56.81%. The business had revenue of $15.05 million for the quarter, compared to analysts’ expectations of $13.81 million. Research analysts predict that Intellia Therapeutics will post -3.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NTLA. AQR Capital Management LLC grew its position in shares of Intellia Therapeutics by 154.1% during the 1st quarter. AQR Capital Management LLC now owns 90,875 shares of the company’s stock valued at $646,000 after purchasing an additional 55,118 shares in the last quarter. Woodline Partners LP purchased a new position in shares of Intellia Therapeutics during the 1st quarter valued at $171,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Intellia Therapeutics by 8.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 521,706 shares of the company’s stock valued at $3,709,000 after purchasing an additional 38,521 shares in the last quarter. Creative Planning grew its position in shares of Intellia Therapeutics by 12.9% during the 2nd quarter. Creative Planning now owns 33,102 shares of the company’s stock valued at $310,000 after purchasing an additional 3,795 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in shares of Intellia Therapeutics by 47.4% during the 2nd quarter. Cetera Investment Advisers now owns 33,532 shares of the company’s stock valued at $315,000 after purchasing an additional 10,785 shares in the last quarter. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

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.