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

Intellia Therapeutics (NASDAQ:NTLA) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Other equities research analysts have also recently issued research reports about the stock. Tudor Pickering set a $14.50 price target on shares of Intellia Therapeutics in a research report on Tuesday, October 28th. JMP Securities lowered their target price on shares of Intellia Therapeutics from $33.00 to $29.00 and set a “market outperform” rating for the company in a report on Tuesday, October 28th. William Blair downgraded Intellia Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, October 27th. HC Wainwright set a $18.00 price target on Intellia Therapeutics in a research report on Thursday, October 30th. Finally, Oppenheimer set a $27.00 price objective on Intellia Therapeutics in a report on Friday. Twelve analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $20.39.

Intellia Therapeutics Stock Down 22.7%

NASDAQ:NTLA traded down $2.80 during trading hours on Friday, hitting $9.52. 25,372,622 shares of the stock were exchanged, compared to its average volume of 10,223,058. The company has a market capitalization of $1.02 billion, a P/E ratio of -2.23 and a beta of 2.44. The company’s 50 day moving average is $17.19 and its two-hundred day moving average is $12.47. Intellia Therapeutics has a twelve month low of $5.90 and a twelve month high of $28.25.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.92) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.02) by $0.10. The business had revenue of $13.78 million for the quarter, compared to analysts’ expectations of $14.12 million. Intellia Therapeutics had a negative return on equity of 56.28% and a negative net margin of 774.94%.The firm’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same quarter last year, the business earned ($1.34) earnings per share. On average, equities research analysts expect that Intellia Therapeutics will post -5.07 EPS for the current year.

Insider Activity

In other Intellia Therapeutics news, Director William J. Chase purchased 100,000 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were bought at an average price of $10.03 per share, with a total value of $1,003,000.00. Following the completion of the transaction, the director directly owned 134,693 shares in the company, valued at $1,350,970.79. This trade represents a 288.24% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Michael P. Dube sold 1,871 shares of Intellia Therapeutics stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $17.38, for a total value of $32,517.98. Following the transaction, the chief accounting officer owned 55,266 shares in the company, valued at $960,523.08. This trade represents a 3.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 3.10% of the company’s stock.

Institutional Trading of Intellia Therapeutics

Hedge funds have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Intellia Therapeutics by 51.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,726 shares of the company’s stock worth $140,000 after acquiring an additional 6,722 shares during the period. D.A. Davidson & CO. boosted its stake in Intellia Therapeutics by 76.2% in the 1st quarter. D.A. Davidson & CO. now owns 26,020 shares of the company’s stock worth $185,000 after purchasing an additional 11,250 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 worth $1,479,000 after purchasing an additional 179,180 shares in the last quarter. Ballentine Partners LLC acquired a new stake in shares of Intellia Therapeutics in the 2nd quarter valued at about $161,000. Finally, Cyndeo Wealth Partners LLC bought a new stake in shares of Intellia Therapeutics in the second quarter valued at about $101,000. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.