Intellia Therapeutics (NASDAQ:NTLA) Receives "Neutral" Rating from Wedbush

Wedbush reiterated their neutral rating on shares of Intellia Therapeutics (NASDAQ:NTLA - Free Report) in a research report released on Monday,Benzinga reports. Wedbush currently has a $14.00 target price on the stock.

NTLA has been the subject of a number of other research reports. Citigroup reduced their target price on Intellia Therapeutics from $25.00 to $19.00 and set a "neutral" rating for the company in a report on Friday, October 25th. Robert W. Baird reduced their target price on shares of Intellia Therapeutics from $24.00 to $18.00 and set a "neutral" rating for the company in a research note on Friday, October 25th. Evercore ISI upgraded shares of Intellia Therapeutics to a "strong-buy" rating in a research note on Friday, August 9th. StockNews.com raised shares of Intellia Therapeutics to a "sell" rating in a report on Friday, November 8th. Finally, Chardan Capital lifted their price target on shares of Intellia Therapeutics from $88.00 to $91.00 and gave the stock a "buy" rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $53.88.

Intellia Therapeutics Stock Performance

Intellia Therapeutics stock traded up $0.20 during midday trading on Monday, reaching $14.17. The stock had a trading volume of 5,612,627 shares, compared to its average volume of 1,699,631. Intellia Therapeutics has a twelve month low of $13.54 and a twelve month high of $34.87. The stock has a market capitalization of $1.44 billion, a PE ratio of -2.58 and a beta of 1.81. The stock's 50-day simple moving average is $18.64 and its 200 day simple moving average is $22.04.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) earnings per share for the quarter, beating the consensus estimate of ($1.37) by $0.03. The firm had revenue of $9.10 million during the quarter, compared to the consensus estimate of $8.28 million. The firm's quarterly revenue was down 24.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.38) earnings per share. Equities analysts predict that Intellia Therapeutics will post -5.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Michael P. Dube sold 2,012 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total value of $38,248.12. Following the completion of the transaction, the chief accounting officer now owns 47,012 shares of the company's stock, valued at $893,698.12. This represents a 4.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.20% of the company's stock.

Hedge Funds Weigh In On Intellia Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in NTLA. Blue Trust Inc. grew its holdings in Intellia Therapeutics by 1,664.3% in the second quarter. Blue Trust Inc. now owns 1,482 shares of the company's stock worth $33,000 after purchasing an additional 1,398 shares during the period. EverSource Wealth Advisors LLC lifted its position in Intellia Therapeutics by 763.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company's stock valued at $39,000 after purchasing an additional 1,550 shares during the last quarter. Eastern Bank bought a new stake in Intellia Therapeutics during the 3rd quarter valued at $41,000. First Horizon Advisors Inc. increased its position in Intellia Therapeutics by 22.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company's stock valued at $58,000 after purchasing an additional 472 shares during the period. Finally, Values First Advisors Inc. purchased a new stake in shares of Intellia Therapeutics in the 3rd quarter worth about $54,000. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc, a genome editing company, focuses on the development of curative therapeutics. The company's in vivo programs include NTLA-2001, which is in Phase 1 clinical trial for the treatment of transthyretin amyloidosis; NTLA-2002 for the treatment of hereditary angioedema; and NTLA-3001 for alpha-1 antitrypsin deficiency associated lung disease.