Intellia Therapeutics (NASDAQ:NTLA) Upgraded to Hold at BidaskClub

BidaskClub upgraded shares of Intellia Therapeutics (NASDAQ:NTLA) from a sell rating to a hold rating in a report published on Friday, December 29th.

NTLA has been the subject of several other research reports. Credit Suisse Group increased their target price on shares of Intellia Therapeutics from $24.00 to $28.00 and gave the stock an outperform rating in a report on Friday, November 3rd. ValuEngine upgraded shares of Intellia Therapeutics from a sell rating to a hold rating in a report on Friday, September 22nd. Jefferies Group set a $42.00 target price on shares of Intellia Therapeutics and gave the stock a buy rating in a report on Tuesday, October 31st. Leerink Swann increased their target price on shares of Intellia Therapeutics from $29.00 to $37.00 and gave the stock an outperform rating in a report on Tuesday, October 31st. They noted that the move was a valuation call. Finally, Wedbush reiterated an ourperform rating and issued a $25.00 price target (down previously from $29.00) on shares of Intellia Therapeutics in a research note on Wednesday, September 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $30.17.

Intellia Therapeutics (NTLA) opened at $21.45 on Friday. The firm has a market cap of $908.09 and a P/E ratio of -13.84. Intellia Therapeutics has a 1-year low of $10.83 and a 1-year high of $33.34.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings results on Tuesday, October 31st. The company reported ($0.44) earnings per share for the quarter, beating the Thomson Reuters’ 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 company 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 company earned ($0.22) earnings per share. The business’s quarterly revenue was up 49.0% compared to the same quarter last year. equities research analysts expect that Intellia Therapeutics will post -1.68 earnings per share for the current fiscal year.

In other news, CEO Nessan Bermingham sold 336,783 shares of the stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $20.78, for a total value of $6,998,350.74. Following the transaction, the chief executive officer now directly owns 696,000 shares of the company’s stock, valued at $14,462,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Institutes For Biomed Novartis sold 1,523,000 shares of the stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $18.30, for a total transaction of $27,870,900.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,971,283 shares of company stock valued at $37,137,161. Corporate insiders own 12.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in Intellia Therapeutics during the second quarter worth about $101,000. Bank of Montreal Can increased its position in Intellia Therapeutics by 1,031.7% during the second quarter. Bank of Montreal Can now owns 7,922 shares of the company’s stock worth $127,000 after acquiring an additional 7,222 shares during the period. Nationwide Fund Advisors increased its position in Intellia Therapeutics by 117.7% during the second quarter. Nationwide Fund Advisors now owns 8,048 shares of the company’s stock worth $129,000 after acquiring an additional 4,351 shares during the period. State of Wisconsin Investment Board bought a new position in Intellia Therapeutics during the second quarter worth about $160,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Intellia Therapeutics during the second quarter worth about $167,000. 48.95% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Intellia Therapeutics (NASDAQ:NTLA)

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