Cann Reiterates Market Perform Rating for Intellia Therapeutics, Inc. (NTLA)

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

Other research analysts have also issued reports about the stock. Credit Suisse Group set a $24.00 target price on shares of Intellia Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. Jefferies Group LLC reiterated a “buy” rating and issued a $36.00 target price on shares of Intellia Therapeutics in a research report on Thursday, June 22nd. Chardan Capital started coverage on shares of Intellia Therapeutics in a research 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. TheStreet upgraded shares of Intellia Therapeutics from a “d+” rating to a “c-” rating in a research report on Thursday, July 6th. Finally, Zacks Investment Research upgraded shares of Intellia Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, April 18th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Intellia Therapeutics currently has an average rating of “Buy” and an average target price of $24.83.

Shares of Intellia Therapeutics (NASDAQ:NTLA) opened at 16.10 on Monday. The company’s 50 day moving average price is $15.83 and its 200 day moving average price is $14.14. Intellia Therapeutics has a 12-month low of $10.83 and a 12-month high of $24.90. The firm’s market cap is $581.40 million.

Intellia Therapeutics (NASDAQ:NTLA) last announced its earnings results on Thursday, August 3rd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by $0.03. Intellia Therapeutics had a negative return on equity of 22.70% and a negative net margin of 204.48%. The company had revenue of $5.90 million during the quarter, compared to analysts’ expectations of $5.83 million. The company’s revenue was up 40.5% compared to the same quarter last year. Equities research analysts forecast that Intellia Therapeutics will post ($1.74) EPS for the current year.

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In other Intellia Therapeutics news, major shareholder Venture Fund Ix L.P. Atlas sold 150,000 shares of the company’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $16.24, for a total transaction of $2,436,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 12.80% of the company’s stock.

A number of hedge funds have recently bought and sold shares of NTLA. SG Americas Securities LLC acquired a new stake in Intellia Therapeutics during the second quarter valued at about $101,000. Nisa Investment Advisors LLC purchased a new position in shares of Intellia Therapeutics during the second quarter valued at approximately $134,000. Bank of Montreal Can increased its position in shares of 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 period. IHT Wealth Management LLC purchased a new position in shares of Intellia Therapeutics during the first quarter valued at approximately $117,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Intellia Therapeutics during the first quarter valued at approximately $137,000. Institutional investors and hedge funds own 46.99% of the company’s stock.

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.