Intellia Therapeutics (NASDAQ:NTLA) Stock Rating Lowered by Morgan Stanley

Intellia Therapeutics (NASDAQ:NTLA) was downgraded by equities researchers at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report issued on Monday, MarketBeat Ratings reports. They currently have a $11.00 target price on the stock, down from their prior target price of $56.00. Morgan Stanley’s price objective points to a potential upside of 9.89% from the company’s current price.

NTLA has been the topic of a number of other research reports. StockNews.com raised shares of Intellia Therapeutics to a “sell” rating in a report on Friday, November 8th. BMO Capital Markets lowered their target price on shares of Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Citigroup reduced their price target on shares of Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Oppenheimer lowered their price objective on Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Finally, Wedbush restated a “neutral” rating and set a $10.00 target price (down from $14.00) on shares of Intellia Therapeutics in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Intellia Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.71.

Intellia Therapeutics Stock Performance

NTLA stock opened at $10.01 on Monday. The stock has a fifty day moving average of $12.47 and a 200-day moving average of $17.83. Intellia Therapeutics has a fifty-two week low of $9.25 and a fifty-two week high of $34.87. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -1.84 and a beta of 1.83.

Intellia Therapeutics (NASDAQ:NTLA) last issued its earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.03. The business had revenue of $9.10 million for the quarter, compared to the consensus estimate of $8.28 million. During the same quarter in the prior year, the business earned ($1.38) EPS. Intellia Therapeutics’s revenue for the quarter was down 24.1% compared to the same quarter last year. Equities analysts predict that Intellia Therapeutics will post -5.09 EPS for the current year.

Insider Transactions at Intellia Therapeutics

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $12.18, for a total transaction of $326,509.26. Following the completion of the transaction, the chief executive officer now owns 941,115 shares of the company’s stock, valued at $11,462,780.70. This represents a 2.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders have sold 28,735 shares of company stock worth $349,909. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

Hedge funds have recently made changes to their positions in the business. State Street Corp boosted its holdings in Intellia Therapeutics by 17.9% in the third quarter. State Street Corp now owns 5,143,534 shares of the company’s stock valued at $105,700,000 after acquiring an additional 780,754 shares in the last quarter. ARK Investment Management LLC raised its position in shares of Intellia Therapeutics by 5.7% in the 3rd quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock worth $251,849,000 after acquiring an additional 659,651 shares in the last quarter. Two Sigma Advisers LP lifted its stake in shares of Intellia Therapeutics by 33.5% in the 3rd quarter. Two Sigma Advisers LP now owns 1,027,617 shares of the company’s stock valued at $21,118,000 after purchasing an additional 257,700 shares during the period. Sphera Funds Management LTD. boosted its position in shares of Intellia Therapeutics by 108.8% during the third quarter. Sphera Funds Management LTD. now owns 291,080 shares of the company’s stock valued at $5,982,000 after purchasing an additional 151,661 shares in the last quarter. Finally, Patient Square Capital LP purchased a new stake in Intellia Therapeutics in the third quarter worth $2,642,000. 88.77% of the stock is owned by hedge funds and other institutional investors.

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.