Intellia Therapeutics, Inc. (NTLA) Rating Reiterated by Cann

Intellia Therapeutics, Inc. (NASDAQ:NTLA)‘s stock had its “market perform” rating reissued by research analysts at Cann in a report released on Monday.

The analysts wrote, “We are initiating coverage of Intellia Therapeutics, a development-stage biotechnology platform company, with a Perform rating. Intellia Therapeutics is developing gene editing therapies for the treatment of various human diseases. This gene editing system, CRISPR, utilizes short sequences of RNA to guide a DNA cutting enzyme (DNA nuclease) to cut specific sequences of DNA. We anticipate Intellia will continue to form collaborations for its CRISPR technology and advance its current collaborations into later stages of development. We believe Intellia is currently in a weaker patent position than competitor Editas Medicine, but this is subject to litigation appeal.””

Several other equities research analysts also recently issued reports on NTLA. TheStreet raised shares of Intellia Therapeutics from a “d+” rating to a “c-” rating in a research note on Thursday, July 6th. Credit Suisse Group set a $24.00 price target on shares of Intellia Therapeutics and gave the stock a “buy” rating in a research note on Saturday, June 3rd. Zacks Investment Research downgraded shares of Intellia Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, March 30th. Jefferies Group LLC reaffirmed a “buy” rating and set a $36.00 price target on shares of Intellia Therapeutics in a research note on Thursday, June 22nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $25.00 price target on shares of Intellia Therapeutics in a research note on Monday, May 15th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $25.71.

Shares of Intellia Therapeutics (NASDAQ NTLA) traded up 2.76% during trading on Monday, hitting $16.00. 43,340 shares of the company were exchanged. Intellia Therapeutics has a 12 month low of $10.83 and a 12 month high of $24.90. The stock’s market cap is $576.45 million. The company’s 50-day moving average price is $14.53 and its 200 day moving average price is $13.93.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings results on Tuesday, May 2nd. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by $0.02. Intellia Therapeutics had a negative return on equity of 17.65% and a negative net margin of 179.64%. The firm had revenue of $6.22 million for the quarter, compared to analysts’ expectations of $5.30 million. On average, equities analysts predict that Intellia Therapeutics will post ($1.59) earnings per share for the current fiscal year.

In other news, major shareholder Venture Fund Ix L.P. Atlas sold 150,000 shares of the business’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $16.24, for a total value of $2,436,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.80% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in NTLA. Nisa Investment Advisors LLC bought a new stake in Intellia Therapeutics during the second quarter valued at $134,000. Bank of Montreal Can increased its stake in Intellia Therapeutics by 1,031.7% in the second quarter. Bank of Montreal Can now owns 7,922 shares of the company’s stock valued at $127,000 after buying an additional 7,222 shares during the last quarter. IHT Wealth Management LLC bought a new stake in Intellia Therapeutics during the first quarter valued at $117,000. Russell Investments Group Ltd. bought a new stake in Intellia Therapeutics during the first quarter valued at $137,000. Finally, Meridian Investment Counsel Inc. bought a new stake in Intellia Therapeutics during the first quarter valued at $141,000. 47.07% of the stock is owned by institutional investors.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc is a genome editing company. The Company is focused on developing therapeutics utilizing a biological tool known as CRISPR/Cas9. The CRISPR/Cas9 genome editing system includes two components: the Cas9 protein and the guide RNA sequence. The Cas9 protein acts like a pair of molecular scissors that initiates the natural cellular repair process to knockout, repair or insert a gene.