Intellia Therapeutics (NASDAQ:NTLA) Rating Reiterated by Canaccord Genuity Group

Intellia Therapeutics (NASDAQ:NTLA)‘s stock had its “buy” rating reaffirmed by research analysts at Canaccord Genuity Group in a research report issued on Thursday, Benzinga reports. They presently have a $73.00 target price on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 226.18% from the stock’s previous close.

A number of other analysts have also recently weighed in on NTLA. BMO Capital Markets boosted their target price on shares of Intellia Therapeutics from $62.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. StockNews.com raised shares of Intellia Therapeutics to a “sell” rating in a research note on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 target price on shares of Intellia Therapeutics in a research note on Monday, June 24th. Truist Financial reaffirmed a “buy” rating and set a $120.00 target price on shares of Intellia Therapeutics in a research note on Monday, June 24th. Finally, Wedbush reissued a “neutral” rating and issued a $29.00 price objective on shares of Intellia Therapeutics in a research note on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Intellia Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $69.00.

Intellia Therapeutics Price Performance

Shares of NTLA opened at $22.38 on Thursday. Intellia Therapeutics has a one year low of $19.37 and a one year high of $46.50. The company has a market cap of $2.16 billion, a P/E ratio of -4.18 and a beta of 1.84. The firm has a 50 day simple moving average of $23.76 and a two-hundred day simple moving average of $26.32.

Intellia Therapeutics (NASDAQ:NTLA) last posted its earnings results on Thursday, May 9th. The company reported ($1.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.35) by $0.29. The firm had revenue of $28.94 million for the quarter, compared to analysts’ expectations of $15.60 million. Intellia Therapeutics had a negative net margin of 893.34% and a negative return on equity of 45.35%. On average, analysts expect that Intellia Therapeutics will post -4.98 earnings per share for the current fiscal year.

Institutional Trading of Intellia Therapeutics

A number of institutional investors have recently bought and sold shares of NTLA. Rhumbline Advisers boosted its position in Intellia Therapeutics by 1.0% during the third quarter. Rhumbline Advisers now owns 163,985 shares of the company’s stock valued at $5,185,000 after acquiring an additional 1,578 shares during the last quarter. Hsbc Holdings PLC bought a new stake in Intellia Therapeutics during the third quarter valued at $635,000. Corton Capital Inc. boosted its position in Intellia Therapeutics by 91.7% during the third quarter. Corton Capital Inc. now owns 14,088 shares of the company’s stock valued at $445,000 after acquiring an additional 6,740 shares during the last quarter. Seven Eight Capital LP boosted its position in Intellia Therapeutics by 65.0% during the third quarter. Seven Eight Capital LP now owns 19,158 shares of the company’s stock valued at $606,000 after acquiring an additional 7,549 shares during the last quarter. Finally, Sectoral Asset Management Inc. raised its holdings in shares of Intellia Therapeutics by 11.4% during the third quarter. Sectoral Asset Management Inc. now owns 112,332 shares of the company’s stock valued at $3,552,000 after purchasing an additional 11,500 shares during the period. 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.