Intellia Therapeutics (NASDAQ:NTLA) Upgraded by BidaskClub to Hold

BidaskClub upgraded shares of Intellia Therapeutics (NASDAQ:NTLA) from a sell rating to a hold rating in a report released on Thursday, BidAskClub reports.

NTLA has been the topic of several other reports. ValuEngine lowered shares of Intellia Therapeutics from a buy rating to a hold rating in a research note on Monday, August 26th. Chardan Capital reiterated a buy rating and issued a $57.50 price target on shares of Intellia Therapeutics in a research note on Tuesday, May 28th. Roth Capital initiated coverage on shares of Intellia Therapeutics in a research note on Monday, June 10th. They issued a neutral rating and a $16.00 price target on the stock. Zacks Investment Research lowered shares of Intellia Therapeutics from a buy rating to a hold rating in a research note on Thursday, August 8th. Finally, Robert W. Baird initiated coverage on shares of Intellia Therapeutics in a research note on Monday, July 8th. They issued an outperform rating and a $23.00 price target on the stock. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $25.56.

Shares of NASDAQ:NTLA traded down $0.50 during midday trading on Thursday, reaching $14.25. 33,282 shares of the company were exchanged, compared to its average volume of 474,782. Intellia Therapeutics has a fifty-two week low of $11.03 and a fifty-two week high of $32.95. The company has a quick ratio of 7.99, a current ratio of 7.99 and a debt-to-equity ratio of 0.05. The stock has a fifty day simple moving average of $16.25 and a two-hundred day simple moving average of $16.04. The firm has a market cap of $724.40 million, a PE ratio of -7.20 and a beta of 2.71.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.56) EPS for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.05. Intellia Therapeutics had a negative net margin of 242.65% and a negative return on equity of 33.03%. The business had revenue of $11.10 million for the quarter, compared to analyst estimates of $7.15 million. During the same period last year, the business posted ($0.52) earnings per share. The firm’s quarterly revenue was up 44.2% on a year-over-year basis. As a group, analysts forecast that Intellia Therapeutics will post -2.29 earnings per share for the current year.

Hedge funds have recently modified their holdings of the business. Benjamin Edwards Inc. grew its position in shares of Intellia Therapeutics by 60.9% in the 2nd quarter. Benjamin Edwards Inc. now owns 1,691 shares of the company’s stock valued at $28,000 after acquiring an additional 640 shares during the period. Tortoise Investment Management LLC grew its position in shares of Intellia Therapeutics by 100.0% in the 1st quarter. Tortoise Investment Management LLC now owns 2,000 shares of the company’s stock valued at $34,000 after acquiring an additional 1,000 shares during the period. Bank of Montreal Can grew its position in shares of Intellia Therapeutics by 406.5% in the 2nd quarter. Bank of Montreal Can now owns 3,824 shares of the company’s stock valued at $63,000 after acquiring an additional 3,069 shares during the period. Mizuho Securities Co. Ltd. bought a new position in shares of Intellia Therapeutics in the 2nd quarter valued at about $64,000. Finally, Aperio Group LLC bought a new position in shares of Intellia Therapeutics in the 2nd quarter valued at about $83,000. Hedge funds and other institutional investors own 79.39% of the company’s stock.

About Intellia Therapeutics

Intellia Therapeutics, Inc, a genome editing company, focuses on the development of therapeutics utilizing a biological tool known as the CRISPR/Cas9 system. The company develops in vivo programs focused on liver diseases, including transthyretin amyloidosis, alpha-1 antitrypsin deficiency, and primary hyperoxaluria.

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