Intellia Therapeutics (NASDAQ:NTLA) Receives “Market Outperform” Rating from Citizens Jmp

Intellia Therapeutics (NASDAQ:NTLA)‘s stock had its “market outperform” rating restated by stock analysts at Citizens Jmp in a research report issued on Tuesday,Benzinga reports. They currently have a $30.00 price objective on the stock. Citizens Jmp’s price objective would suggest a potential upside of 138.85% from the company’s previous close.

A number of other brokerages have also recently commented on NTLA. Chardan Capital increased their price target on shares of Intellia Therapeutics from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Wolfe Research lowered shares of Intellia Therapeutics from a “peer perform” rating to an “underperform” rating and set a $9.00 price objective for the company. in a report on Wednesday, July 15th. Morgan Stanley upped their price objective on shares of Intellia Therapeutics from $11.00 to $15.00 and gave the company an “equal weight” rating in a research note on Monday, April 27th. Sanford C. Bernstein increased their target price on shares of Intellia Therapeutics from $13.00 to $17.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Finally, Robert W. Baird lifted their target price on shares of Intellia Therapeutics from $7.00 to $13.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $21.15.

Intellia Therapeutics Trading Down 2.2%

NTLA opened at $12.56 on Tuesday. The stock has a 50-day moving average price of $13.42 and a 200-day moving average price of $13.35. Intellia Therapeutics has a 12-month low of $7.95 and a 12-month high of $28.25. The stock has a market capitalization of $1.76 billion, a P/E ratio of -3.74 and a beta of 1.81.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.80) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.80). The company had revenue of $7.66 million for the quarter, compared to analysts’ expectations of $12.98 million. Intellia Therapeutics had a negative return on equity of 57.79% and a negative net margin of 672.16%.Intellia Therapeutics’s revenue for the quarter was down 46.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.98) EPS. On average, equities research analysts predict that Intellia Therapeutics will post -3.21 EPS for the current year.

Insiders Place Their Bets

In other Intellia Therapeutics news, EVP Edward J. Dulac III sold 4,677 shares of the firm’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $18.00, for a total value of $84,186.00. Following the sale, the executive vice president owned 156,286 shares of the company’s stock, valued at $2,813,148. This trade represents a 2.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Michael P. Dube sold 2,641 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $16.78, for a total transaction of $44,315.98. Following the sale, the chief accounting officer owned 66,886 shares of the company’s stock, valued at approximately $1,122,347.08. This represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Intellia Therapeutics

A number of large investors have recently modified their holdings of the stock. California State Teachers Retirement System boosted its position in shares of Intellia Therapeutics by 1,766.5% during the second quarter. California State Teachers Retirement System now owns 2,580,588 shares of the company’s stock valued at $43,664,000 after purchasing an additional 2,442,329 shares in the last quarter. AXQ Capital LP bought a new stake in Intellia Therapeutics during the 2nd quarter valued at about $555,000. Nykredit A S bought a new position in shares of Intellia Therapeutics in the second quarter worth approximately $33,000. Headlands Technologies LLC purchased a new stake in shares of Intellia Therapeutics during the second quarter valued at approximately $1,595,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Intellia Therapeutics in the 2nd quarter worth approximately $637,000. Institutional investors own 88.77% of the company’s stock.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc (NASDAQ: NTLA) is a clinical‐stage biotechnology company focused on developing potentially curative genome editing therapies using the CRISPR/Cas9 platform. The company’s research spans both in vivo and ex vivo applications of CRISPR/Cas9, aiming to correct or disable disease‐causing genes with a single administration. Intellia’s lead in vivo program targets transthyretin amyloidosis (ATTR) by delivering CRISPR/Cas9 machinery directly to the liver, while additional preclinical efforts pursue treatments for hemophilia A, hereditary angioedema and other genetic disorders.

Beyond its in vivo pipeline, Intellia collaborates with strategic partners to extend the impact of its genome editing approach.