Intellia Therapeutics (NASDAQ:NTLA) Cut to Hold at Zacks Investment Research

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Zacks Investment Research cut shares of Intellia Therapeutics (NASDAQ:NTLA) from a buy rating to a hold rating in a research report sent to investors on Wednesday, Zacks.com reports.

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. “

Other research analysts have also recently issued reports about the company. Robert W. Baird started coverage on Intellia Therapeutics in a research report on Monday, July 8th. They issued an outperform rating and a $23.00 target price for the company. BidaskClub raised Zynerba Pharmaceuticals from a hold rating to a buy rating in a report on Thursday, June 20th. Wedbush reissued an outperform rating on shares of Idera Pharmaceuticals in a report on Friday, May 3rd. Roth Capital started coverage on Crispr Therapeutics in a report on Monday, June 10th. They set a buy rating and a $50.00 price objective for the company. Finally, Evercore ISI started coverage on Homology Medicines in a report on Thursday, April 11th. They set an outperform rating and a $29.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $25.31.

Shares of NTLA stock opened at $16.60 on Wednesday. Intellia Therapeutics has a one year low of $11.03 and a one year high of $32.95. The business has a fifty day moving average price of $15.04. The company has a debt-to-equity ratio of 0.06, a current ratio of 7.74 and a quick ratio of 7.74.

Intellia Therapeutics (NASDAQ:NTLA) last issued its earnings results on Thursday, May 2nd. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.04. The firm had revenue of $10.43 million during the quarter, compared to analysts’ expectations of $9.43 million. Intellia Therapeutics had a negative return on equity of 31.68% and a negative net margin of 257.28%. Intellia Therapeutics’s quarterly revenue was up 39.7% compared to the same quarter last year. During the same period last year, the business earned ($0.51) earnings per share. As a group, sell-side analysts predict that Intellia Therapeutics will post -2.4 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers raised its position in shares of Intellia Therapeutics by 60.0% in the fourth quarter. Rhumbline Advisers now owns 48,131 shares of the company’s stock worth $657,000 after acquiring an additional 18,050 shares during the period. PNC Financial Services Group Inc. acquired a new position in shares of Intellia Therapeutics in the fourth quarter worth about $136,000. BlackRock Inc. raised its position in shares of Intellia Therapeutics by 4.5% in the fourth quarter. BlackRock Inc. now owns 2,868,738 shares of the company’s stock worth $39,158,000 after acquiring an additional 124,341 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Intellia Therapeutics by 502.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 260,259 shares of the company’s stock worth $3,552,000 after acquiring an additional 217,071 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Intellia Therapeutics by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 359,479 shares of the company’s stock worth $4,906,000 after acquiring an additional 17,771 shares during the period. 74.34% of the stock is owned by institutional investors.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc, a genome editing company, focuses on the development of therapeutics utilizing a biological tool known as the CRISPR/Cas9 system. The company develops in vivo programs focused on liver diseases, including transthyretin amyloidosis, alpha-1 antitrypsin deficiency, and primary hyperoxaluria.

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