Intellia Therapeutics’ (NTLA) Buy Rating Reiterated at Canaccord Genuity Group

Intellia Therapeutics (NASDAQ:NTLA)‘s stock had its “buy” rating reiterated by stock analysts at Canaccord Genuity Group in a research report issued on Tuesday,Benzinga reports. They presently have a $90.00 price target on the stock.

Other research analysts also recently issued reports about the company. William Blair reissued a “neutral” rating and issued a $14.00 price target on shares of Intellia Therapeutics in a report on Monday. Robert W. Baird decreased their target price on shares of Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. StockNews.com upgraded shares of Intellia Therapeutics to a “sell” rating in a research report on Friday, November 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $54.00 price objective on shares of Intellia Therapeutics in a research report on Thursday, September 19th. Finally, Citigroup dropped their target price on Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $54.94.

Intellia Therapeutics Price Performance

NTLA stock opened at $13.12 on Tuesday. The company has a market capitalization of $1.34 billion, a P/E ratio of -2.41 and a beta of 1.81. Intellia Therapeutics has a 12 month low of $12.82 and a 12 month high of $34.87. The firm’s fifty day simple moving average is $18.40 and its 200-day simple moving average is $21.91.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($1.34) EPS for the quarter, beating the consensus estimate of ($1.37) by $0.03. The business had revenue of $9.10 million during the quarter, compared to analysts’ expectations of $8.28 million. Intellia Therapeutics’s revenue for the quarter was down 24.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.38) earnings per share. As a group, sell-side analysts forecast that Intellia Therapeutics will post -5.13 earnings per share for the current year.

Insider Buying and Selling at Intellia Therapeutics

In related news, CAO Michael P. Dube sold 2,012 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total transaction of $38,248.12. Following the completion of the transaction, the chief accounting officer now owns 47,012 shares of the company’s stock, valued at approximately $893,698.12. This trade represents a 4.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in Intellia Therapeutics in the 1st quarter valued at about $160,000. ProShare Advisors LLC lifted its holdings in Intellia Therapeutics by 11.9% during the 1st quarter. ProShare Advisors LLC now owns 23,235 shares of the company’s stock worth $639,000 after buying an additional 2,466 shares in the last quarter. Vanguard Group Inc. boosted its position in Intellia Therapeutics by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock valued at $250,168,000 after buying an additional 746,263 shares during the period. EntryPoint Capital LLC grew its stake in shares of Intellia Therapeutics by 61.1% in the first quarter. EntryPoint Capital LLC now owns 4,122 shares of the company’s stock worth $113,000 after acquiring an additional 1,563 shares in the last quarter. Finally, Axxcess Wealth Management LLC increased its position in shares of Intellia Therapeutics by 6.5% during the first quarter. Axxcess Wealth Management LLC now owns 16,602 shares of the company’s stock worth $457,000 after acquiring an additional 1,010 shares during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Intellia Therapeutics Company Profile

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.