Intellia Therapeutics (NASDAQ:NTLA) Rating Lowered to Equal Weight at Morgan Stanley

Intellia Therapeutics (NASDAQ:NTLA) was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Monday, Marketbeat.com reports. They currently have a $11.00 price target on the stock, down from their previous price target of $56.00. Morgan Stanley’s target price indicates a potential upside of 9.89% from the company’s current price.

NTLA has been the topic of a number of other reports. Citigroup dropped their price target on Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. StockNews.com raised Intellia Therapeutics to a “sell” rating in a research report on Friday, November 8th. Chardan Capital boosted their price target on Intellia Therapeutics from $88.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Barclays lowered their price objective on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $90.00 target price on shares of Intellia Therapeutics in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $48.71.

Intellia Therapeutics Stock Performance

NTLA opened at $10.01 on Monday. The company’s 50-day simple moving average is $12.47 and its two-hundred day simple moving average is $17.83. The stock has a market capitalization of $1.02 billion, a P/E ratio of -1.84 and a beta of 1.83. Intellia Therapeutics has a 52-week low of $9.25 and a 52-week high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.03. The company had revenue of $9.10 million for the quarter, compared to the consensus estimate of $8.28 million. During the same quarter last year, the company earned ($1.38) EPS. The firm’s revenue for the quarter was down 24.1% on a year-over-year basis. Research analysts forecast that Intellia Therapeutics will post -5.09 EPS for the current fiscal year.

Insider Buying and Selling

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $12.18, for a total value of $326,509.26. Following the completion of the transaction, the chief executive officer now directly owns 941,115 shares in the company, valued at $11,462,780.70. This represents a 2.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 28,735 shares of company stock worth $349,909. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intellia Therapeutics

Several hedge funds have recently modified their holdings of the stock. Eastern Bank purchased a new position in Intellia Therapeutics during the third quarter valued at $41,000. Values First Advisors Inc. purchased a new position in shares of Intellia Therapeutics during the third quarter valued at about $54,000. KBC Group NV increased its holdings in shares of Intellia Therapeutics by 62.4% in the fourth quarter. KBC Group NV now owns 6,093 shares of the company’s stock worth $71,000 after purchasing an additional 2,340 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Intellia Therapeutics by 27.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock worth $77,000 after buying an additional 794 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Intellia Therapeutics by 182.7% during the third quarter. Blue Trust Inc. now owns 4,189 shares of the company’s stock valued at $94,000 after buying an additional 2,707 shares during the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

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.