Intellia Therapeutics (NASDAQ:NTLA) Cut to Sell at Wall Street Zen

Intellia Therapeutics (NASDAQ:NTLA) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Sunday.

Several other analysts have also recently issued reports on NTLA. Sanford C. Bernstein set a $14.50 target price on shares of Intellia Therapeutics in a research note on Tuesday, October 28th. Truist Financial reaffirmed a “buy” rating and issued a $14.00 price target (down previously from $25.00) on shares of Intellia Therapeutics in a report on Monday, November 10th. Chardan Capital dropped their price objective on Intellia Therapeutics from $48.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Citigroup restated a “market outperform” rating on shares of Intellia Therapeutics in a research report on Tuesday, October 28th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $5.00 price target (down previously from $12.00) on shares of Intellia Therapeutics in a report on Friday, November 7th. Nine equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Intellia Therapeutics currently has a consensus rating of “Hold” and an average target price of $17.00.

Intellia Therapeutics Stock Performance

Shares of NTLA opened at $12.50 on Friday. Intellia Therapeutics has a 52-week low of $5.90 and a 52-week high of $28.25. The stock’s 50-day simple moving average is $9.41 and its 200 day simple moving average is $12.78. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -2.93 and a beta of 2.05.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.92) earnings per share for the quarter, beating the consensus estimate of ($1.02) by $0.10. Intellia Therapeutics had a negative return on equity of 57.01% and a negative net margin of 774.94%.The firm had revenue of $13.78 million for the quarter, compared to analysts’ expectations of $14.12 million. During the same period in the prior year, the business posted ($1.34) earnings per share. The company’s revenue was up 51.6% on a year-over-year basis. On average, research analysts forecast that Intellia Therapeutics will post -5.07 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO John M. Leonard sold 34,146 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $9.21, for a total transaction of $314,484.66. Following the completion of the sale, the chief executive officer directly owned 1,013,339 shares in the company, valued at $9,332,852.19. This represents a 3.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Birgit C. Schultes sold 8,508 shares of Intellia Therapeutics stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $9.21, for a total value of $78,358.68. Following the completion of the transaction, the executive vice president directly owned 98,533 shares in the company, valued at $907,488.93. This trade represents a 7.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 53,051 shares of company stock valued at $488,600. 3.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NTLA. AQR Capital Management LLC boosted its position in Intellia Therapeutics by 154.1% during the 1st quarter. AQR Capital Management LLC now owns 90,875 shares of the company’s stock valued at $646,000 after buying an additional 55,118 shares during the period. Woodline Partners LP purchased a new stake in shares of Intellia Therapeutics during the first quarter worth about $171,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Intellia Therapeutics by 8.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 521,706 shares of the company’s stock valued at $3,709,000 after purchasing an additional 38,521 shares during the period. Voya Investment Management LLC increased its holdings in Intellia Therapeutics by 621.5% during the 1st quarter. Voya Investment Management LLC now owns 208,009 shares of the company’s stock valued at $1,479,000 after purchasing an additional 179,180 shares during the period. Finally, Ballentine Partners LLC purchased a new position in Intellia Therapeutics during the 2nd quarter valued at about $161,000. Institutional investors own 88.77% of the company’s stock.

About Intellia Therapeutics

Intellia Therapeutics, Inc (NASDAQ: NTLA) is a clinical‐stage biotechnology company focused on developing potentially curative genome editing therapies using the CRISPR/Cas9 platform. The company’s research spans both in vivo and ex vivo applications of CRISPR/Cas9, aiming to correct or disable disease‐causing genes with a single administration. Intellia’s lead in vivo program targets transthyretin amyloidosis (ATTR) by delivering CRISPR/Cas9 machinery directly to the liver, while additional preclinical efforts pursue treatments for hemophilia A, hereditary angioedema and other genetic disorders.

Beyond its in vivo pipeline, Intellia collaborates with strategic partners to extend the impact of its genome editing approach.