Wedbush Reiterates Neutral Rating for Intellia Therapeutics (NASDAQ:NTLA)

Intellia Therapeutics (NASDAQ:NTLA)‘s stock had its “neutral” rating reaffirmed by stock analysts at Wedbush in a report issued on Tuesday,Benzinga reports. They presently have a $12.00 price objective on the stock. Wedbush’s price objective would suggest a potential downside of 16.78% from the stock’s current price.

NTLA has been the topic of several other research reports. KeyCorp set a $25.00 target price on shares of Intellia Therapeutics in a research report on Wednesday, January 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Intellia Therapeutics in a research report on Tuesday, April 21st. Robert W. Baird lifted their target price on shares of Intellia Therapeutics from $7.00 to $13.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Wall Street Zen raised shares of Intellia Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, JonesTrading raised shares of Intellia Therapeutics from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $20.77.

Intellia Therapeutics Stock Performance

NTLA stock opened at $14.42 on Tuesday. The company has a market capitalization of $1.74 billion, a P/E ratio of -3.77 and a beta of 1.93. Intellia Therapeutics has a 52-week low of $6.83 and a 52-week high of $28.25. The business has a 50-day simple moving average of $13.67 and a two-hundred day simple moving average of $12.22.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.10. The business had revenue of $15.05 million during the quarter, compared to the consensus estimate of $13.81 million. Intellia Therapeutics had a negative return on equity of 56.81% and a negative net margin of 609.85%. As a group, sell-side analysts forecast that Intellia Therapeutics will post -3.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Intellia Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Oppenheimer & Co. Inc. raised its holdings in shares of Intellia Therapeutics by 0.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 105,165 shares of the company’s stock worth $945,000 after purchasing an additional 808 shares during the period. Comerica Bank raised its holdings in shares of Intellia Therapeutics by 45.8% in the 4th quarter. Comerica Bank now owns 2,869 shares of the company’s stock worth $26,000 after purchasing an additional 901 shares during the period. Federated Hermes Inc. raised its holdings in shares of Intellia Therapeutics by 39.7% in the 3rd quarter. Federated Hermes Inc. now owns 3,263 shares of the company’s stock worth $56,000 after purchasing an additional 927 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Intellia Therapeutics by 36.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,552 shares of the company’s stock worth $46,000 after purchasing an additional 948 shares during the period. Finally, Wealthfront Advisers LLC raised its holdings in shares of Intellia Therapeutics by 7.6% in the 1st quarter. Wealthfront Advisers LLC now owns 14,450 shares of the company’s stock worth $185,000 after purchasing an additional 1,018 shares during the period. Institutional investors 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.