Intellia Therapeutics (NASDAQ:NTLA) Rating Increased to Outperform at William Blair

Intellia Therapeutics (NASDAQ:NTLA) was upgraded by stock analysts at William Blair from a “market perform” rating to an “outperform” rating in a research note issued on Monday.

Several other analysts also recently issued reports on NTLA. Evercore set a $8.00 price objective on Intellia Therapeutics and gave the stock an “in-line” rating in a report on Tuesday, November 11th. Citizens Jmp cut their price target on shares of Intellia Therapeutics from $29.00 to $21.00 and set a “market outperform” rating on the stock in a report on Friday, November 7th. Barclays reduced their price target on shares of Intellia Therapeutics from $24.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Intellia Therapeutics in a research note on Thursday, January 22nd. Finally, Royal Bank Of Canada reduced their target price on Intellia Therapeutics from $14.00 to $9.00 and set a “sector perform” rating for the company in a report on Friday, November 7th. Eight equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.90.

Intellia Therapeutics Price Performance

Shares of NTLA traded up $1.49 during trading hours on Monday, hitting $15.27. 9,479,994 shares of the company were exchanged, compared to its average volume of 5,269,262. The company has a market capitalization of $1.77 billion, a PE ratio of -3.97 and a beta of 2.10. The firm has a fifty day simple moving average of $11.89 and a 200-day simple moving average of $13.05. Intellia Therapeutics has a one year low of $5.90 and a one year high of $28.25.

Intellia Therapeutics (NASDAQ:NTLA) last announced its earnings results on Thursday, February 26th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.99) by $0.16. Intellia Therapeutics had a negative return on equity of 56.81% and a negative net margin of 609.85%.The company had revenue of $23.02 million for the quarter, compared to analyst estimates of $12.17 million. During the same period in the previous year, the firm earned ($1.27) earnings per share. Intellia Therapeutics’s revenue for the quarter was up 78.4% compared to the same quarter last year. Sell-side analysts expect that Intellia Therapeutics will post -5.07 EPS for the current year.

Insider Buying and Selling

In related news, EVP Birgit C. Schultes sold 8,508 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $9.21, for a total value of $78,358.68. Following the transaction, the executive vice president directly owned 98,533 shares in the company, valued at approximately $907,488.93. This trade represents a 7.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO John M. Leonard sold 34,146 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $9.21, for a total transaction of $314,484.66. Following the transaction, the chief executive officer directly owned 1,013,339 shares of the company’s stock, valued at approximately $9,332,852.19. This represents a 3.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 53,051 shares of company stock valued at $488,600. Company insiders own 3.10% of the company’s stock.

Institutional Trading of Intellia Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NTLA. Schroder Investment Management Group raised its stake 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 during the last quarter. Marex Group plc bought a new position in shares of Intellia Therapeutics during the 2nd quarter worth about $5,849,000. JPMorgan Chase & Co. raised its position in shares of Intellia Therapeutics by 73.0% during the second quarter. JPMorgan Chase & Co. now owns 940,483 shares of the company’s stock valued at $8,822,000 after buying an additional 396,858 shares during the last quarter. AXQ Capital LP acquired a new position in shares of Intellia Therapeutics during the second quarter valued at about $285,000. Finally, SG Americas Securities LLC lifted its stake in shares of Intellia Therapeutics by 239.7% in the third quarter. SG Americas Securities LLC now owns 131,070 shares of the company’s stock valued at $2,264,000 after buying an additional 92,485 shares during the period. Institutional investors and hedge funds own 88.77% of the company’s stock.

About Intellia Therapeutics

Intellia Therapeutics, Inc (NASDAQ: NTLA) is a clinical‐stage biotechnology company focused on developing potentially curative genome editing therapies using the CRISPR/Cas9 platform. The company’s research spans both in vivo and ex vivo applications of CRISPR/Cas9, aiming to correct or disable disease‐causing genes with a single administration. Intellia’s lead in vivo program targets transthyretin amyloidosis (ATTR) by delivering CRISPR/Cas9 machinery directly to the liver, while additional preclinical efforts pursue treatments for hemophilia A, hereditary angioedema and other genetic disorders.

Beyond its in vivo pipeline, Intellia collaborates with strategic partners to extend the impact of its genome editing approach.