Zacks Investment Research Upgrades Intellia Therapeutics, Inc. (NTLA) to “Hold”
Intellia Therapeutics, Inc. (NASDAQ:NTLA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Intellia Therapeutics is a leading genome editing company, focused on developing therapeutics utilizing a biological tool known as CRISPR-Cas9 system. It believes the CRISPR-Cas9 technology has the potential to transform medicine by permanently editing disease-associated genes in the human body with a single treatment course. The Cas9 protein acts like a pair of molecular scissors that initiates the natural cellular repair process to knockout, repair or insert a gene. The guide RNA sequence recognizes and directs the Cas9 to a specific target deoxyribonucleic acid (DNA) sequence. The Company’s sentinel in vivo programs focus on the use of Lipid Nanoparticle (LNPs) for delivery of the CRISPR/Cas9 complex to the liver. Intellia’s combination of deep scientific, technical and clinical development experience, along with its leading intellectual property portfolio, puts it in a unique position to unlock broad therapeutic applications of the CRISPR-Cas9 technology and create a new class of therapeutic products. “
A number of other research analysts also recently commented on NTLA. Jefferies Group LLC reaffirmed a “buy” rating and issued a $36.00 price target on shares of Intellia Therapeutics in a report on Thursday, June 22nd. TheStreet raised Intellia Therapeutics from a “d+” rating to a “c-” rating in a research note on Thursday, July 6th. Cann reissued a “market perform” rating on shares of Intellia Therapeutics in a research note on Monday, July 17th. Oppenheimer Holdings, Inc. assumed coverage on Intellia Therapeutics in a research report on Tuesday, July 18th. They set a “market perform” rating on the stock. Finally, Chardan Capital restated a “buy” rating and set a $20.00 price objective (up from $19.00) on shares of Intellia Therapeutics in a research report on Wednesday, August 2nd. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. Intellia Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $24.83.
Shares of Intellia Therapeutics (NASDAQ:NTLA) opened at 30.52 on Wednesday. The stock’s 50 day moving average price is $24.01 and its 200-day moving average price is $24.01. The stock’s market cap is $1.10 billion. Intellia Therapeutics has a 1-year low of $10.83 and a 1-year high of $30.59.
Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings data on Thursday, August 3rd. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.03). Intellia Therapeutics had a negative return on equity of 22.70% and a negative net margin of 204.48%. The business had revenue of $5.90 million during the quarter, compared to analysts’ expectations of $5.83 million. Intellia Therapeutics’s quarterly revenue was up 40.5% on a year-over-year basis. On average, equities research analysts forecast that Intellia Therapeutics will post ($1.78) earnings per share for the current year.
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In related news, major shareholder Venture Fund Ix L.P. Atlas sold 150,000 shares of Intellia Therapeutics stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $16.24, for a total transaction of $2,436,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 12.80% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of NTLA. Dynamic Technology Lab Private Ltd purchased a new stake in Intellia Therapeutics in the 2nd quarter worth about $167,000. California State Teachers Retirement System lifted its stake in Intellia Therapeutics by 79.0% in the second quarter. California State Teachers Retirement System now owns 25,143 shares of the company’s stock worth $402,000 after purchasing an additional 11,100 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Intellia Therapeutics by 451.2% in the second quarter. The Manufacturers Life Insurance Company now owns 13,224 shares of the company’s stock worth $212,000 after purchasing an additional 10,825 shares during the last quarter. State Street Corp lifted its stake in Intellia Therapeutics by 52.0% in the second quarter. State Street Corp now owns 164,798 shares of the company’s stock worth $2,638,000 after purchasing an additional 56,363 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Intellia Therapeutics by 19.3% in the second quarter. Goldman Sachs Group Inc. now owns 48,566 shares of the company’s stock worth $777,000 after purchasing an additional 7,866 shares during the last quarter. Institutional investors own 46.52% of the company’s stock.
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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