Intellia Therapeutics (NTLA) Downgraded to “Sell” at BidaskClub
BidaskClub downgraded shares of Intellia Therapeutics (NASDAQ:NTLA) from a hold rating to a sell rating in a research report report published on Friday.
NTLA has been the subject of a number of other research reports. Raymond James assumed coverage on Intellia Therapeutics in a research report on Thursday, September 20th. They set a market perform rating for the company. Zacks Investment Research cut Intellia Therapeutics from a buy rating to a hold rating in a research report on Tuesday, August 7th. Chardan Capital reissued a buy rating and set a $57.50 price objective on shares of Intellia Therapeutics in a research report on Friday, August 24th. Finally, ValuEngine cut Intellia Therapeutics from a buy rating to a hold rating in a research report on Saturday, September 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $39.50.
NTLA traded up $0.75 during trading on Friday, reaching $23.24. 426,847 shares of the stock traded hands, compared to its average volume of 907,497. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -12.36 and a beta of 3.14. Intellia Therapeutics has a fifty-two week low of $16.33 and a fifty-two week high of $35.99.
In other Intellia Therapeutics news, Director Jean Francois Formela sold 6,686 shares of the firm’s stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $31.17, for a total transaction of $208,402.62. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.20% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Elmwood Wealth Management Inc. raised its holdings in Intellia Therapeutics by 8.3% during the third quarter. Elmwood Wealth Management Inc. now owns 65,327 shares of the company’s stock valued at $1,870,000 after buying an additional 4,985 shares in the last quarter. Northern Trust Corp increased its stake in shares of Intellia Therapeutics by 97.3% in the second quarter. Northern Trust Corp now owns 364,171 shares of the company’s stock worth $9,963,000 after purchasing an additional 179,553 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Intellia Therapeutics by 55.4% in the second quarter. Bank of New York Mellon Corp now owns 123,494 shares of the company’s stock worth $3,379,000 after purchasing an additional 44,015 shares during the period. California Public Employees Retirement System bought a new position in shares of Intellia Therapeutics in the second quarter worth about $291,000. Finally, Granahan Investment Management Inc. MA increased its stake in shares of Intellia Therapeutics by 9.2% in the second quarter. Granahan Investment Management Inc. MA now owns 120,645 shares of the company’s stock worth $3,301,000 after purchasing an additional 10,203 shares during the period. Institutional investors own 66.50% of the company’s stock.
Intellia Therapeutics Company Profile
Intellia Therapeutics, Inc, a gene 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, hepatitis B virus, and inborn errors of metabolism programs.
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