Intellia Therapeutics (NASDAQ:NTLA) Upgraded at Truist Financial

Intellia Therapeutics (NASDAQ:NTLA) was upgraded by investment analysts at Truist Financial to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Other analysts have also recently issued research reports about the company. Citizens Jmp raised their target price on Intellia Therapeutics from $21.00 to $28.00 and gave the stock a “market outperform” rating in a research report on Tuesday, March 3rd. Chardan Capital reissued a “buy” rating and set a $26.00 price target on shares of Intellia Therapeutics in a research report on Friday, February 27th. KeyCorp set a $25.00 price objective on Intellia Therapeutics in a research note on Wednesday, January 28th. JonesTrading upgraded Intellia Therapeutics from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Wednesday, March 4th. Finally, reaffirmed a “buy” rating on shares of Intellia Therapeutics in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $19.59.

Intellia Therapeutics Stock Performance

Shares of NASDAQ:NTLA opened at $13.26 on Wednesday. The firm has a 50 day simple moving average of $13.14 and a 200 day simple moving average of $13.32. Intellia Therapeutics has a 52 week low of $5.90 and a 52 week high of $28.25. The company has a market cap of $1.57 billion, a PE ratio of -3.46 and a beta of 2.10.

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

Insider Activity

In related news, EVP James Basta sold 10,397 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $9.21, for a total transaction of $95,756.37. Following the completion of the sale, the executive vice president directly owned 101,528 shares in the company, valued at approximately $935,072.88. This trade represents a 9.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Birgit C. Schultes sold 8,508 shares of Intellia Therapeutics 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 sale, the executive vice president directly owned 98,533 shares of the company’s stock, valued at approximately $907,488.93. The trade was a 7.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 53,051 shares of company stock worth $488,600 in the last ninety days. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NTLA. Comerica Bank lifted its holdings in shares of Intellia Therapeutics by 45.8% during the 4th quarter. Comerica Bank now owns 2,869 shares of the company’s stock valued at $26,000 after buying an additional 901 shares during the last quarter. Headlands Technologies LLC acquired a new position in Intellia Therapeutics in the second quarter worth approximately $26,000. Blue Bell Private Wealth Management LLC acquired a new position in Intellia Therapeutics in the third quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd bought a new position in Intellia Therapeutics during the third quarter valued at approximately $30,000. Finally, Advisory Services Network LLC bought a new position in Intellia Therapeutics during the third quarter valued at approximately $33,000. 88.77% of the stock is owned by institutional investors and hedge funds.

Intellia Therapeutics Company Profile

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.