Intellia Therapeutics (NASDAQ:NTLA) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Intellia Therapeutics (NASDAQ:NTLA) from a hold rating to a sell rating in a report released on Tuesday, 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 equities research analysts have also issued research reports about the stock. BidaskClub lowered shares of Intellia Therapeutics from a buy rating to a hold rating in a research note on Tuesday, December 10th. ValuEngine lowered shares of Intellia Therapeutics from a buy rating to a hold rating in a research note on Tuesday, November 5th. Chardan Capital restated a buy rating and issued a $57.50 price target on shares of Intellia Therapeutics in a research note on Thursday, January 9th. Finally, Raymond James upgraded shares of Intellia Therapeutics from a market perform rating to an outperform rating and set a $24.00 price target on the stock in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $25.21.

NTLA opened at $14.37 on Tuesday. The firm has a market cap of $715.15 million, a price-to-earnings ratio of -7.29 and a beta of 2.77. Intellia Therapeutics has a fifty-two week low of $10.26 and a fifty-two week high of $19.00. The company’s 50-day moving average price is $15.57 and its 200 day moving average price is $14.92. The company has a quick ratio of 7.89, a current ratio of 7.89 and a debt-to-equity ratio of 0.05.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.12. Intellia Therapeutics had a negative net margin of 225.54% and a negative return on equity of 33.00%. The firm had revenue of $10.60 million for the quarter, compared to analyst estimates of $9.17 million. During the same quarter in the prior year, the business earned ($0.53) earnings per share. Intellia Therapeutics’s quarterly revenue was up 43.2% on a year-over-year basis. Research analysts anticipate that Intellia Therapeutics will post -2.06 earnings per share for the current year.

Several large investors have recently made changes to their positions in the business. HighTower Advisors LLC increased its stake in shares of Intellia Therapeutics by 5.3% in the second quarter. HighTower Advisors LLC now owns 36,437 shares of the company’s stock valued at $598,000 after purchasing an additional 1,826 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Intellia Therapeutics by 23.4% in the second quarter. JPMorgan Chase & Co. now owns 10,000 shares of the company’s stock valued at $152,000 after acquiring an additional 1,894 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Intellia Therapeutics by 406.5% in the second quarter. Bank of Montreal Can now owns 3,824 shares of the company’s stock valued at $63,000 after acquiring an additional 3,069 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Intellia Therapeutics in the fourth quarter valued at approximately $56,000. Finally, California State Teachers Retirement System boosted its holdings in shares of Intellia Therapeutics by 7.5% in the third quarter. California State Teachers Retirement System now owns 60,244 shares of the company’s stock valued at $804,000 after acquiring an additional 4,193 shares in the last quarter. Institutional investors own 90.18% of the company’s stock.

About Intellia Therapeutics

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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