Intellia Therapeutics (NASDAQ:NTLA) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of Intellia Therapeutics (NASDAQ:NTLA) from a buy rating to a hold rating in a research note published on Thursday morning, 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 analysts have also recently issued research reports about the stock. Robert W. Baird initiated coverage on shares of Intellia Therapeutics in a research note on Monday, July 8th. They issued an outperform rating and a $23.00 target price on the stock. Chardan Capital restated a buy rating and issued a $57.50 price target on shares of Intellia Therapeutics in a research report on Tuesday, May 28th. BidaskClub upgraded shares of Intellia Therapeutics from a sell rating to a hold rating in a research report on Thursday, June 20th. Evercore ISI started coverage on shares of Intellia Therapeutics in a research report on Thursday, April 11th. They issued an outperform rating on the stock. Finally, ValuEngine upgraded shares of Intellia Therapeutics from a hold rating to a buy rating in a research report on Thursday, August 1st. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $25.56.

NASDAQ NTLA traded down $0.03 on Thursday, reaching $17.63. The company’s stock had a trading volume of 330,596 shares, compared to its average volume of 583,460. The stock has a market capitalization of $860.98 million, a price-to-earnings ratio of -8.90 and a beta of 2.62. The company’s 50-day moving average price is $16.71. Intellia Therapeutics has a 52 week low of $11.03 and a 52 week high of $32.95. The company has a debt-to-equity ratio of 0.05, a quick ratio of 7.99 and a current ratio of 7.99.

Intellia Therapeutics (NASDAQ:NTLA) last posted its earnings results on Thursday, August 1st. The company reported ($0.56) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.61) by $0.05. The business had revenue of $11.10 million for the quarter, compared to analysts’ expectations of $7.15 million. Intellia Therapeutics had a negative net margin of 242.65% and a negative return on equity of 33.03%. The firm’s revenue for the quarter was up 44.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.52) earnings per share. As a group, equities analysts forecast that Intellia Therapeutics will post -2.29 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the business. Benjamin Edwards Inc. lifted its position in shares of Intellia Therapeutics by 60.9% during the second quarter. Benjamin Edwards Inc. now owns 1,691 shares of the company’s stock worth $28,000 after purchasing an additional 640 shares in the last quarter. Tortoise Investment Management LLC lifted its position in shares of Intellia Therapeutics by 100.0% during the first quarter. Tortoise Investment Management LLC now owns 2,000 shares of the company’s stock worth $34,000 after purchasing an additional 1,000 shares in the last quarter. Quantamental Technologies LLC lifted its position in shares of Intellia Therapeutics by 1,170.4% during the first quarter. Quantamental Technologies LLC now owns 3,303 shares of the company’s stock worth $56,000 after purchasing an additional 3,043 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Intellia Therapeutics by 406.5% during the second quarter. Bank of Montreal Can now owns 3,824 shares of the company’s stock worth $63,000 after purchasing an additional 3,069 shares in the last quarter. Finally, Mizuho Securities Co. Ltd. acquired a new position in shares of Intellia Therapeutics during the second quarter worth approximately $64,000. Hedge funds and other institutional investors own 85.95% of the company’s stock.

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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