Intellia Therapeutics (NASDAQ:NTLA) Earns Buy Rating from Canaccord Genuity Group

Intellia Therapeutics (NASDAQ:NTLA)‘s stock had its “buy” rating reissued by equities research analysts at Canaccord Genuity Group in a report released on Tuesday,Benzinga reports. They currently have a $49.00 price objective on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 258.84% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Bank of America restated a “neutral” rating on shares of Intellia Therapeutics in a research report on Monday, March 2nd. Leerink Partners set a $35.00 target price on Intellia Therapeutics in a research note on Monday, April 27th. Royal Bank Of Canada boosted their target price on Intellia Therapeutics from $9.00 to $15.00 and gave the company a “sector perform” rating in a report on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Intellia Therapeutics in a research note on Tuesday, April 21st. Finally, Morgan Stanley increased their price target on Intellia Therapeutics from $11.00 to $15.00 and gave the stock an “equal weight” rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $20.46.

Intellia Therapeutics Stock Down 8.5%

NASDAQ:NTLA traded down $1.27 during trading hours on Tuesday, reaching $13.66. 3,626,204 shares of the company’s stock were exchanged, compared to its average volume of 5,609,577. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of -3.86 and a beta of 1.92. The company has a 50-day moving average of $13.64 and a 200 day moving average of $12.37. Intellia Therapeutics has a 1-year low of $7.95 and a 1-year high of $28.25.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.81) EPS for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.11. Intellia Therapeutics had a negative net margin of 597.04% and a negative return on equity of 57.47%. The company had revenue of $15.05 million for the quarter, compared to analyst estimates of $13.81 million. During the same period in the previous year, the business posted ($1.10) earnings per share. Research analysts forecast that Intellia Therapeutics will post -3.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Comerica Bank increased its holdings in shares of Intellia Therapeutics by 45.8% in the 4th quarter. Comerica Bank now owns 2,869 shares of the company’s stock valued at $26,000 after purchasing an additional 901 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Intellia Therapeutics during the second quarter worth about $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in Intellia Therapeutics during the third quarter worth about $30,000. Advisory Services Network LLC acquired a new position in Intellia Therapeutics during the third quarter worth about $33,000. Finally, Spire Wealth Management purchased a new position in Intellia Therapeutics in the fourth quarter valued at about $37,000. Institutional investors and hedge funds 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.