Intellia Therapeutics (NTLA) Downgraded by BidaskClub to Sell
BidaskClub lowered shares of Intellia Therapeutics (NASDAQ:NTLA) from a hold rating to a sell rating in a report released on Friday morning.
Several other brokerages also recently weighed in on NTLA. Oppenheimer reissued a hold rating on shares of Intellia Therapeutics in a research note on Tuesday. Barclays reissued a buy rating on shares of Intellia Therapeutics in a research note on Sunday, November 5th. Credit Suisse Group boosted their target price on shares of Intellia Therapeutics from $24.00 to $28.00 and gave the company an outperform rating in a research note on Friday, November 3rd. Jefferies Group reissued a buy rating and issued a $36.00 target price on shares of Intellia Therapeutics in a research note on Tuesday, October 3rd. Finally, Zacks Investment Research raised shares of Intellia Therapeutics from a sell rating to a hold rating in a research note on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $30.17.
Shares of Intellia Therapeutics (NASDAQ NTLA) traded up $0.98 during mid-day trading on Friday, reaching $18.37. 2,734,136 shares of the company traded hands, compared to its average volume of 808,440. Intellia Therapeutics has a 12-month low of $10.83 and a 12-month high of $33.34.
Intellia Therapeutics (NASDAQ:NTLA) last announced its earnings results on Tuesday, October 31st. The company reported ($0.44) earnings per share 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 firm had revenue of $7.30 million during the quarter, compared to the consensus estimate of $5.83 million. During the same quarter in the previous year, the company posted ($0.22) EPS. The firm’s revenue for the quarter was up 49.0% on a year-over-year basis. equities analysts expect that Intellia Therapeutics will post -1.68 earnings per share for the current fiscal year.
In related news, CEO Nessan Bermingham sold 111,500 shares of the stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $20.34, for a total transaction of $2,267,910.00. Following the completion of the sale, the chief executive officer now owns 696,000 shares of the company’s stock, valued at approximately $14,156,640. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Institutes For Biomed Novartis sold 1,523,000 shares of the stock in a transaction that occurred on Tuesday, December 12th. The stock was 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 ninety days, insiders have sold 1,971,283 shares of company stock valued at $37,137,161. Corporate insiders own 12.80% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GMT Capital Corp purchased a new position in Intellia Therapeutics in the 3rd quarter worth approximately $8,214,000. Neuberger Berman Group LLC boosted its holdings in Intellia Therapeutics by 14.9% in the 2nd quarter. Neuberger Berman Group LLC now owns 49,517 shares of the company’s stock worth $792,000 after acquiring an additional 6,431 shares during the period. American Century Companies Inc. purchased a new position in Intellia Therapeutics in the 2nd quarter worth approximately $583,000. Wells Fargo & Company MN boosted its holdings in Intellia Therapeutics by 176.1% in the 2nd quarter. Wells Fargo & Company MN now owns 30,215 shares of the company’s stock worth $483,000 after acquiring an additional 19,270 shares during the period. Finally, Bank of Montreal Can boosted its holdings in Intellia Therapeutics by 1,031.7% in the 2nd 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. Hedge funds and other 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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