Intellia Therapeutics (NASDAQ:NTLA) Lowered to Sell Rating by Wall Street Zen

Intellia Therapeutics (NASDAQ:NTLA) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Several other equities research analysts also recently issued reports on NTLA. Sanford C. Bernstein set a $14.50 price objective on shares of Intellia Therapeutics in a research note on Tuesday, October 28th. Citigroup restated a “market outperform” rating on shares of Intellia Therapeutics in a research report on Tuesday, October 28th. Wedbush dropped their price objective on shares of Intellia Therapeutics from $9.00 to $7.00 and set a “neutral” rating on the stock in a report on Friday. Barclays reduced their target price on shares of Intellia Therapeutics from $24.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Oppenheimer set a $27.00 price target on Intellia Therapeutics in a research note on Friday. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $20.39.

Intellia Therapeutics Stock Performance

Shares of Intellia Therapeutics stock traded down $2.80 during trading on Friday, reaching $9.52. The company’s stock had a trading volume of 25,372,622 shares, compared to its average volume of 10,223,058. Intellia Therapeutics has a one year low of $5.90 and a one year high of $28.25. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -2.23 and a beta of 2.44. The business’s fifty day moving average price is $17.19 and its 200-day moving average price is $12.47.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Thursday, November 6th. The company reported ($0.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.10. The firm had revenue of $13.78 million for the quarter, compared to analyst estimates of $14.12 million. Intellia Therapeutics had a negative return on equity of 56.28% and a negative net margin of 774.94%.The company’s revenue was up 51.6% on a year-over-year basis. During the same quarter last year, the firm posted ($1.34) EPS. Sell-side analysts anticipate that Intellia Therapeutics will post -5.07 EPS for the current year.

Insider Buying and Selling

In related news, Director William J. Chase bought 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was acquired at an average price of $10.03 per share, for a total transaction of $1,003,000.00. Following the transaction, the director directly owned 134,693 shares of the company’s stock, valued at $1,350,970.79. This represents a 288.24% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Michael P. Dube sold 1,871 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $17.38, for a total value of $32,517.98. Following the completion of the sale, the chief accounting officer directly owned 55,266 shares in the company, valued at approximately $960,523.08. This represents a 3.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Intellia Therapeutics

A number of hedge funds have recently made changes to their positions in the company. Marex Group plc bought a new stake in Intellia Therapeutics during the second quarter worth about $5,849,000. Vanguard Group Inc. boosted its holdings in shares of Intellia Therapeutics by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 10,752,031 shares of the company’s stock worth $76,447,000 after acquiring an additional 561,978 shares in the last quarter. ARK Investment Management LLC grew its position in Intellia Therapeutics by 3.8% during the 1st quarter. ARK Investment Management LLC now owns 13,011,015 shares of the company’s stock worth $92,508,000 after acquiring an additional 474,629 shares during the last quarter. JPMorgan Chase & Co. grew its position in Intellia Therapeutics by 73.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 940,483 shares of the company’s stock worth $8,822,000 after acquiring an additional 396,858 shares during the last quarter. Finally, Schroder Investment Management Group increased its holdings in Intellia Therapeutics by 1,593.4% during the 2nd quarter. Schroder Investment Management Group now owns 406,425 shares of the company’s stock valued at $3,812,000 after purchasing an additional 382,425 shares in the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

About Intellia Therapeutics

Intellia Therapeutics, Inc, a genome editing company, focuses on the development of curative therapeutics. The company's in vivo programs include NTLA-2001, which is in Phase 1 clinical trial for the treatment of transthyretin amyloidosis; NTLA-2002 for the treatment of hereditary angioedema; and NTLA-3001 for alpha-1 antitrypsin deficiency associated lung disease.