Intellia Therapeutics, Inc. (NASDAQ:NTLA)‘s stock had its “market perform” rating reaffirmed by analysts at Cann in a report issued on Monday, July 17th.
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.””
NTLA has been the subject of several other reports. Zacks Investment Research cut shares of Intellia Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, March 30th. Credit Suisse Group set a $24.00 target price on shares of Intellia Therapeutics and gave the stock a “buy” rating in a report on Wednesday, May 3rd. Wedbush reiterated an “outperform” rating and issued a $25.00 target price on shares of Intellia Therapeutics in a report on Monday, May 15th. Chardan Capital began coverage on shares of Intellia Therapeutics in a report on Monday, March 27th. They issued a “buy” rating and a $19.00 target price for the company. They noted that the move was a valuation call. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $36.00 price target on shares of Intellia Therapeutics in a research report on Thursday, June 22nd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $25.71.
Intellia Therapeutics (NASDAQ:NTLA) traded up 2.59% during trading on Monday, hitting $17.04. 149,498 shares of the stock were exchanged. The firm’s market cap is $613.92 million. Intellia Therapeutics has a 12-month low of $10.83 and a 12-month high of $24.90. The stock’s 50-day moving average price is $15.61 and its 200-day moving average price is $14.10.
Intellia Therapeutics (NASDAQ:NTLA) last announced its earnings results on Tuesday, May 2nd. The company reported ($0.36) EPS for the quarter, missing the 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 during the quarter, compared to analyst estimates of $5.30 million. On average, equities analysts expect that Intellia Therapeutics will post ($1.59) EPS for the current year.
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In related news, major shareholder Venture Fund Ix L.P. Atlas sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $16.24, for a total transaction of $2,436,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.80% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Intellia Therapeutics by 3.9% in the first quarter. Vanguard Group Inc. now owns 904,708 shares of the company’s stock valued at $12,747,000 after buying an additional 33,925 shares during the period. GMT Capital Corp bought a new position in shares of Intellia Therapeutics during the first quarter valued at approximately $4,657,000. Acadian Asset Management LLC bought a new position in shares of Intellia Therapeutics during the first quarter valued at approximately $1,355,000. Paulson & CO. Inc. bought a new position in shares of Intellia Therapeutics during the first quarter valued at approximately $1,107,000. Finally, Geode Capital Management LLC increased its position in shares of Intellia Therapeutics by 6.0% in the first quarter. Geode Capital Management LLC now owns 76,095 shares of the company’s stock valued at $1,072,000 after buying an additional 4,291 shares during the period. Institutional investors own 47.08% of the company’s stock.
About Intellia Therapeutics
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.
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