Zacks Investment Research upgraded shares of Intellia Therapeutics (NASDAQ:NTLA) from a hold rating to a buy rating in a research report sent to investors on Saturday, August 4th. Zacks Investment Research currently has $30.00 target price on the stock.
According to Zacks, “Intellia Therapeutics is a leading genome editing company, focused on developing therapeutics utilizing a biological tool known as CRISPR-Cas9 system. It believes the CRISPR-Cas9 technology has the potential to transform medicine by permanently editing disease-associated genes in the human body with a single treatment course. The Cas9 protein acts like a pair of molecular scissors that initiates the natural cellular repair process to knockout, repair or insert a gene. The guide RNA sequence recognizes and directs the Cas9 to a specific target deoxyribonucleic acid (DNA) sequence. The Company’s sentinel in vivo programs focus on the use of Lipid Nanoparticle (LNPs) for delivery of the CRISPR/Cas9 complex to the liver. Intellia’s combination of deep scientific, technical and clinical development experience, along with its leading intellectual property portfolio, puts it in a unique position to unlock broad therapeutic applications of the CRISPR-Cas9 technology and create a new class of therapeutic products. “
Several other equities research analysts also recently issued reports on NTLA. Chardan Capital raised shares of Intellia Therapeutics from a neutral rating to a buy rating in a research note on Tuesday, May 15th. BidaskClub raised shares of Intellia Therapeutics from a hold rating to a buy rating in a research report on Wednesday, May 16th. TheStreet downgraded shares of Intellia Therapeutics from a c- rating to a d rating in a research report on Monday, May 7th. Cann reissued a hold rating on shares of Intellia Therapeutics in a research report on Tuesday, May 1st. Finally, Wedbush reissued an outperform rating and issued a $36.00 target price on shares of Intellia Therapeutics in a research report on Friday, May 18th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Intellia Therapeutics presently has an average rating of Buy and an average price target of $34.14.
Shares of Intellia Therapeutics traded up $0.18, reaching $27.67, during mid-day trading on Friday, according to MarketBeat. The company had a trading volume of 404,637 shares, compared to its average volume of 665,178. The firm has a market cap of $1.19 billion, a PE ratio of -14.72 and a beta of 2.93. Intellia Therapeutics has a fifty-two week low of $15.06 and a fifty-two week high of $35.99.
Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings results on Wednesday, August 1st. The company reported ($0.52) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.55) by $0.03. The company had revenue of $7.68 million for the quarter, compared to analyst estimates of $6.39 million. Intellia Therapeutics had a negative net margin of 284.56% and a negative return on equity of 31.54%. Intellia Therapeutics’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.45) EPS. equities research analysts anticipate that Intellia Therapeutics will post -1.97 EPS for the current year.
In related news, Director Jean Francois Formela sold 6,686 shares of the business’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $25.04, for a total value of $167,417.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John M. Leonard sold 8,400 shares of the business’s stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $24.00, for a total transaction of $201,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,458 shares of company stock valued at $764,361. Company insiders own 12.80% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in shares of Intellia Therapeutics by 1.9% during the fourth quarter. BlackRock Inc. now owns 1,710,947 shares of the company’s stock valued at $32,885,000 after acquiring an additional 31,662 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Intellia Therapeutics by 675.6% during the first quarter. JPMorgan Chase & Co. now owns 27,884 shares of the company’s stock valued at $588,000 after acquiring an additional 24,289 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Intellia Therapeutics by 306.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 129,900 shares of the company’s stock valued at $2,497,000 after acquiring an additional 97,936 shares during the period. Teachers Advisors LLC raised its holdings in shares of Intellia Therapeutics by 22.4% during the fourth quarter. Teachers Advisors LLC now owns 31,950 shares of the company’s stock valued at $614,000 after acquiring an additional 5,856 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in shares of Intellia Therapeutics by 108.0% during the fourth quarter. Wells Fargo & Company MN now owns 34,767 shares of the company’s stock valued at $668,000 after acquiring an additional 18,050 shares during the period. Institutional investors and hedge funds own 59.81% of the company’s stock.
Intellia Therapeutics Company Profile
Intellia Therapeutics, Inc, a gene editing company, focuses on the development of therapeutics utilizing a biological tool known as the CRISPR/Cas9 system. The company develops in vivo programs focused on liver diseases, including transthyretin amyloidosis, alpha-1 antitrypsin deficiency, hepatitis B virus, and inborn errors of metabolism programs.
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