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

Wedbush reissued their neutral rating on shares of Intellia Therapeutics (NASDAQ:NTLA) in a research report report published on Tuesday morning, Benzinga reports. Wedbush currently has a $29.00 target price on the stock.

NTLA has been the subject of a number of other reports. Canaccord Genuity Group increased their price target on Intellia Therapeutics from $72.00 to $73.00 and gave the company a buy rating in a research note on Friday, February 23rd. Wolfe Research began coverage on Intellia Therapeutics in a research note on Thursday, February 15th. They issued a peer perform rating for the company. Finally, The Goldman Sachs Group lowered Intellia Therapeutics from a buy rating to a neutral rating and lowered their target price for the stock from $136.00 to $32.00 in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $67.00.

Intellia Therapeutics Trading Up 3.7 %

Shares of NTLA opened at $20.76 on Tuesday. Intellia Therapeutics has a 52 week low of $19.37 and a 52 week high of $47.48. The stock has a fifty day moving average of $26.51 and a 200-day moving average of $27.56.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($1.46) EPS for the quarter, beating analysts’ consensus estimates of ($1.47) by $0.01. Intellia Therapeutics had a negative return on equity of 43.91% and a negative net margin of 893.34%. The company had revenue of ($1.92) million during the quarter, compared to analysts’ expectations of $15.10 million. During the same period in the prior year, the company earned ($1.40) EPS. Sell-side analysts predict that Intellia Therapeutics will post -5.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intellia Therapeutics news, EVP James Basta sold 2,297 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $32.99, for a total transaction of $75,778.03. Following the completion of the sale, the executive vice president now directly owns 81,571 shares in the company, valued at approximately $2,691,027.29. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.00% of the company’s stock.

Institutional Trading of Intellia Therapeutics

A number of large investors have recently bought and sold shares of NTLA. Blue Trust Inc. acquired a new stake in shares of Intellia Therapeutics in the 4th quarter valued at about $26,000. Signaturefd LLC grew its stake in shares of Intellia Therapeutics by 89.3% in the 4th quarter. Signaturefd LLC now owns 1,592 shares of the company’s stock valued at $49,000 after buying an additional 751 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of Intellia Therapeutics by 95.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,263 shares of the company’s stock valued at $72,000 after buying an additional 1,108 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of Intellia Therapeutics by 35.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,056 shares of the company’s stock valued at $93,000 after buying an additional 793 shares during the period. Finally, Spire Wealth Management grew its stake in shares of Intellia Therapeutics by 3,789.0% in the 4th quarter. Spire Wealth Management now owns 3,889 shares of the company’s stock valued at $119,000 after buying an additional 3,789 shares during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

About Intellia Therapeutics

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.