Intellia Therapeutics, Inc. (NASDAQ:NTLA)‘s stock had its “market perform” rating reiterated by analysts at Cann in a note issued to investors on Monday, July 17th.
The analysts wrote, “We are initiating coverage of Intellia Therapeutics, a development-stage biotechnology platform company, with a Perform rating. Intellia Therapeutics is developing gene editing therapies for the treatment of various human diseases. This gene editing system, CRISPR, utilizes short sequences of RNA to guide a DNA cutting enzyme (DNA nuclease) to cut specific sequences of DNA. We anticipate Intellia will continue to form collaborations for its CRISPR technology and advance its current collaborations into later stages of development. We believe Intellia is currently in a weaker patent position than competitor Editas Medicine, but this is subject to litigation appeal.””
Several other research firms have also issued reports on NTLA. TheStreet upgraded shares of Intellia Therapeutics from a “d+” rating to a “c-” rating in a report on Thursday, July 6th. Wedbush restated an “outperform” rating and issued a $25.00 target price on shares of Intellia Therapeutics in a report on Monday, May 15th. Jefferies Group LLC reiterated a “buy” rating and set a $36.00 price objective on shares of Intellia Therapeutics in a report on Thursday, June 22nd. Credit Suisse Group set a $24.00 price objective on shares of Intellia Therapeutics and gave the company a “buy” rating in a report on Wednesday, May 3rd. Finally, Zacks Investment Research upgraded shares of Intellia Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, April 18th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $24.83.
Shares of Intellia Therapeutics (NASDAQ:NTLA) opened at 16.93 on Monday. The company has a 50-day moving average price of $16.45 and a 200-day moving average price of $14.30. Intellia Therapeutics has a 12-month low of $10.83 and a 12-month high of $24.90. The firm’s market capitalization is $611.38 million.
Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Thursday, August 3rd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by $0.03. The firm had revenue of $5.90 million during the quarter, compared to the consensus estimate of $5.83 million. Intellia Therapeutics had a negative return on equity of 22.70% and a negative net margin of 204.48%. The business’s revenue was up 40.5% on a year-over-year basis. Equities analysts predict that Intellia Therapeutics will post ($1.74) EPS for the current year.
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In other news, major shareholder Venture Fund Ix L.P. Atlas sold 150,000 shares of Intellia Therapeutics stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $16.24, for a total value of $2,436,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 12.80% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in NTLA. OxFORD Asset Management LLP bought a new stake in Intellia Therapeutics during the second quarter valued at $1,132,000. Dimensional Fund Advisors LP bought a new stake in Intellia Therapeutics during the second quarter valued at $695,000. Virtu KCG Holdings LLC bought a new stake in Intellia Therapeutics during the second quarter valued at $203,000. ARK Investment Management LLC boosted its stake in shares of Intellia Therapeutics by 118.9% in the second quarter. ARK Investment Management LLC now owns 174,810 shares of the company’s stock valued at $2,797,000 after buying an additional 94,960 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Intellia Therapeutics by 10.2% in the second quarter. Vanguard Group Inc. now owns 997,288 shares of the company’s stock valued at $15,957,000 after buying an additional 92,580 shares during the last quarter. 46.88% of the stock is currently owned by institutional investors.
About Intellia Therapeutics
Intellia Therapeutics, Inc is a genome editing company. The Company is focused on developing therapeutics utilizing a biological tool known as CRISPR/Cas9. The CRISPR/Cas9 genome editing system includes two components: the Cas9 protein and the guide RNA sequence. The Cas9 protein acts like a pair of molecular scissors that initiates the natural cellular repair process to knockout, repair or insert a gene.
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