Canaccord Genuity Group Reiterates “Buy” Rating for Intellia Therapeutics (NASDAQ:NTLA)

Canaccord Genuity Group reaffirmed their buy rating on shares of Intellia Therapeutics (NASDAQ:NTLA) in a research report sent to investors on Tuesday morning,Benzinga reports. Canaccord Genuity Group currently has a $90.00 target price on the stock.

A number of other equities analysts have also issued reports on NTLA. William Blair reaffirmed a “neutral” rating and set a $14.00 target price on shares of Intellia Therapeutics in a research report on Monday, November 18th. StockNews.com upgraded shares of Intellia Therapeutics to a “sell” rating in a report on Friday, November 8th. Evercore ISI upgraded shares of Intellia Therapeutics to a “strong-buy” rating in a research note on Friday, August 9th. Stifel Nicolaus decreased their target price on Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Finally, Robert W. Baird cut their price target on Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.94.

Intellia Therapeutics Stock Performance

Shares of NASDAQ:NTLA opened at $14.30 on Tuesday. The stock’s 50-day moving average is $18.12 and its 200-day moving average is $21.79. The company has a market cap of $1.46 billion, a P/E ratio of -2.55 and a beta of 1.81. Intellia Therapeutics has a 52-week low of $12.82 and a 52-week high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.03. The business had revenue of $9.10 million during the quarter, compared to analyst estimates of $8.28 million. The business’s quarterly revenue was down 24.1% compared to the same quarter last year. During the same period last year, the business earned ($1.38) EPS. As a group, equities analysts predict that Intellia Therapeutics will post -5.13 EPS for the current year.

Insider Buying and Selling at Intellia Therapeutics

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,012 shares of Intellia Therapeutics stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total value of $38,248.12. Following the completion of the transaction, the chief accounting officer now owns 47,012 shares in the company, valued at approximately $893,698.12. The trade was a 4.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.20% of the company’s stock.

Institutional Trading of Intellia Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. grew its holdings in Intellia Therapeutics by 1,664.3% during the 2nd quarter. Blue Trust Inc. now owns 1,482 shares of the company’s stock worth $33,000 after acquiring an additional 1,398 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Intellia Therapeutics by 763.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock worth $39,000 after purchasing an additional 1,550 shares in the last quarter. Eastern Bank bought a new stake in shares of Intellia Therapeutics during the third quarter valued at approximately $41,000. Values First Advisors Inc. acquired a new stake in shares of Intellia Therapeutics in the third quarter valued at approximately $54,000. Finally, First Horizon Advisors Inc. raised its position in Intellia Therapeutics by 22.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company’s stock worth $58,000 after purchasing an additional 472 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Intellia Therapeutics Company Profile

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.