Intellia Therapeutics (NTLA) Cut to “Sell” at BidaskClub
Intellia Therapeutics (NASDAQ:NTLA) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
Several other brokerages have also recently issued reports on NTLA. Jefferies Group set a $42.00 target price on shares of Intellia Therapeutics and gave the company a “buy” rating in a report on Tuesday, October 31st. Zacks Investment Research upgraded shares of Intellia Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. Leerink Swann upped their target price on shares of Intellia Therapeutics from $29.00 to $37.00 and gave the company an “outperform” rating in a report on Tuesday, October 31st. They noted that the move was a valuation call. Wedbush restated an “ourperform” rating and issued a $25.00 target price (down previously from $29.00) on shares of Intellia Therapeutics in a report on Wednesday, September 27th. Finally, ValuEngine upgraded shares of Intellia Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. Intellia Therapeutics currently has an average rating of “Hold” and an average price target of $30.17.
Intellia Therapeutics (NTLA) opened at $17.39 on Friday. Intellia Therapeutics has a twelve month low of $10.83 and a twelve month high of $33.34.
Intellia Therapeutics (NASDAQ:NTLA) last issued its earnings results on Tuesday, October 31st. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.06. Intellia Therapeutics had a negative net margin of 215.92% and a negative return on equity of 28.01%. The business had revenue of $7.30 million during the quarter, compared to analysts’ expectations of $5.83 million. During the same quarter in the prior year, the business posted ($0.22) EPS. The company’s revenue for the quarter was up 49.0% on a year-over-year basis. analysts forecast that Intellia Therapeutics will post -1.68 earnings per share for the current fiscal year.
In related news, major shareholder Institutes For Biomed Novartis sold 1,523,000 shares of the stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $18.30, for a total transaction of $27,870,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nessan Bermingham sold 111,500 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $20.34, for a total transaction of $2,267,910.00. Following the sale, the chief executive officer now owns 696,000 shares of the company’s stock, valued at approximately $14,156,640. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,971,283 shares of company stock valued at $37,137,161. 12.80% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in NTLA. GMT Capital Corp purchased a new position in Intellia Therapeutics during the 3rd quarter worth $8,214,000. Ark Investment Management LLC increased its holdings in shares of Intellia Therapeutics by 118.9% in the 2nd quarter. Ark Investment Management LLC now owns 174,810 shares of the company’s stock valued at $2,797,000 after purchasing an additional 94,960 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Intellia Therapeutics by 10.2% in the 2nd quarter. Vanguard Group Inc. now owns 997,288 shares of the company’s stock valued at $15,957,000 after purchasing an additional 92,580 shares in the last quarter. OxFORD Asset Management LLP purchased a new position in shares of Intellia Therapeutics in the 2nd quarter valued at about $1,132,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Intellia Therapeutics in the 2nd quarter valued at about $907,000. Institutional investors own 49.55% of the company’s stock.
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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.
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