Zacks Investment Research downgraded shares of Intellia Therapeutics (NASDAQ:NTLA) from a buy rating to a hold rating in a research report released on Wednesday, Zacks.com reports.

According to Zacks, “Intellia Therapeutics is a leading genome editing company, focused on developing therapeutics utilizing a biological tool known as CRISPR-Cas9 system. It believes the CRISPR-Cas9 technology has the potential to transform medicine by permanently editing disease-associated genes in the human body with a single treatment course. The Cas9 protein acts like a pair of molecular scissors that initiates the natural cellular repair process to knockout, repair or insert a gene. The guide RNA sequence recognizes and directs the Cas9 to a specific target deoxyribonucleic acid (DNA) sequence. The Company’s sentinel in vivo programs focus on the use of Lipid Nanoparticle (LNPs) for delivery of the CRISPR/Cas9 complex to the liver. Intellia’s combination of deep scientific, technical and clinical development experience, along with its leading intellectual property portfolio, puts it in a unique position to unlock broad therapeutic applications of the CRISPR-Cas9 technology and create a new class of therapeutic products. “

NTLA has been the subject of several other research reports. BidaskClub raised Zynerba Pharmaceuticals from a hold rating to a buy rating in a report on Thursday, June 20th. Chardan Capital restated a buy rating and issued a $57.50 target price on shares of Intellia Therapeutics in a research report on Tuesday, May 28th. Roth Capital started coverage on Crispr Therapeutics in a research report on Monday, June 10th. They issued a buy rating and a $50.00 target price for the company. Evercore ISI started coverage on Homology Medicines in a research report on Thursday, April 11th. They issued an outperform rating and a $29.00 target price for the company. Finally, Robert W. Baird started coverage on Intellia Therapeutics in a research report on Monday, July 8th. They issued an outperform rating and a $23.00 target price for the company. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Intellia Therapeutics presently has a consensus rating of Hold and an average price target of $25.31.

Shares of NASDAQ NTLA opened at $16.60 on Wednesday. Intellia Therapeutics has a 12 month low of $11.03 and a 12 month high of $32.95. The company has a quick ratio of 7.74, a current ratio of 7.74 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $758.79 million, a price-to-earnings ratio of -8.38 and a beta of 2.62. The stock’s 50-day simple moving average is $15.04.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.49) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.53) by $0.04. Intellia Therapeutics had a negative return on equity of 31.68% and a negative net margin of 257.28%. The company had revenue of $10.43 million during the quarter, compared to analyst estimates of $9.43 million. During the same quarter in the previous year, the firm earned ($0.51) earnings per share. Intellia Therapeutics’s revenue was up 39.7% on a year-over-year basis. As a group, analysts anticipate that Intellia Therapeutics will post -2.4 EPS for the current year.

A number of hedge funds have recently made changes to their positions in NTLA. Tortoise Investment Management LLC lifted its position in Intellia Therapeutics by 100.0% in the first quarter. Tortoise Investment Management LLC now owns 2,000 shares of the company’s stock valued at $34,000 after purchasing an additional 1,000 shares during the last quarter. Quantamental Technologies LLC lifted its position in Intellia Therapeutics by 1,170.4% in the first quarter. Quantamental Technologies LLC now owns 3,303 shares of the company’s stock valued at $56,000 after purchasing an additional 3,043 shares during the last quarter. Resources Investment Advisors Inc. bought a new stake in Intellia Therapeutics in the first quarter valued at approximately $92,000. NumerixS Investment Technologies Inc bought a new stake in Intellia Therapeutics in the first quarter valued at approximately $110,000. Finally, BNP Paribas Arbitrage SA lifted its position in Intellia Therapeutics by 942.0% in the first quarter. BNP Paribas Arbitrage SA now owns 7,648 shares of the company’s stock valued at $131,000 after purchasing an additional 6,914 shares during the last quarter. Hedge funds and other institutional investors own 74.34% of the company’s stock.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc, a genome editing company, focuses on the development of therapeutics utilizing a biological tool known as the CRISPR/Cas9 system. The company develops in vivo programs focused on liver diseases, including transthyretin amyloidosis, alpha-1 antitrypsin deficiency, and primary hyperoxaluria.

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