Oppenheimer Holdings, Inc. Initiates Coverage on Intellia Therapeutics, Inc. (NTLA)

Oppenheimer Holdings, Inc. assumed coverage on shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) in a report published on Tuesday, July 18th. The firm issued a market perform rating on the stock. Oppenheimer Holdings also issued estimates for Intellia Therapeutics’ Q2 2017 earnings at ($0.39) EPS, Q3 2017 earnings at ($0.44) EPS, Q4 2017 earnings at ($0.47) EPS, FY2017 earnings at ($1.66) EPS, Q1 2018 earnings at ($0.51) EPS, Q2 2018 earnings at ($0.55) EPS, Q3 2018 earnings at ($0.55) EPS, Q4 2018 earnings at ($0.58) EPS, FY2018 earnings at ($2.19) EPS, FY2019 earnings at ($3.50) EPS, FY2020 earnings at ($4.77) EPS and FY2021 earnings at ($3.74) EPS.

Other equities analysts have also issued research reports about the stock. Credit Suisse Group set a $24.00 target price on shares of Intellia Therapeutics and gave the company a buy rating in a report on Wednesday, May 3rd. Jefferies Group LLC restated a buy rating and set a $36.00 target price on shares of Intellia Therapeutics in a report on Thursday, June 22nd. Chardan Capital initiated coverage on shares of Intellia Therapeutics in a report on Monday, March 27th. They set a buy rating and a $19.00 target price on the stock. They noted that the move was a valuation call. TheStreet upgraded shares of Intellia Therapeutics from a d+ rating to a c- rating in a report on Thursday, July 6th. Finally, Zacks Investment Research upgraded shares of Intellia Therapeutics from a sell rating to a hold rating in a report on Tuesday, April 18th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Intellia Therapeutics currently has an average rating of Buy and a consensus price target of $25.71.

Intellia Therapeutics (NASDAQ NTLA) traded up 2.59% on Tuesday, reaching $17.04. The company’s stock had a trading volume of 91,601 shares. The firm has a 50 day moving average price of $15.49 and a 200 day moving average price of $14.08. Intellia Therapeutics has a 52 week low of $10.83 and a 52 week high of $24.90. The stock’s market capitalization is $613.92 million.

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

In other Intellia Therapeutics news, major shareholder Venture Fund Ix L.P. Atlas sold 150,000 shares of the business’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $16.24, for a total value of $2,436,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 12.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. IHT Wealth Management LLC bought a new stake in Intellia Therapeutics during the first quarter valued at $117,000. 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. Nisa Investment Advisors LLC bought a new stake in Intellia Therapeutics during the second quarter valued at $134,000. 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. 47.08% 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.