Morgan Stanley Downgrades Intellia Therapeutics (NASDAQ:NTLA) to Equal Weight

Intellia Therapeutics (NASDAQ:NTLA) was downgraded by research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report issued on Monday, MarketBeat reports. They currently have a $11.00 price target on the stock, down from their previous price target of $56.00. Morgan Stanley’s price target points to a potential upside of 0.09% from the stock’s current price.

NTLA has been the subject of several other research reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Intellia Therapeutics in a report on Tuesday, November 19th. BMO Capital Markets decreased their price objective on shares of Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 10th. William Blair reissued a “neutral” rating and set a $14.00 target price on shares of Intellia Therapeutics in a report on Monday, November 18th. Chardan Capital increased their price target on Intellia Therapeutics from $88.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Finally, StockNews.com upgraded shares of Intellia Therapeutics to a “sell” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Intellia Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $48.71.

Intellia Therapeutics Trading Down 2.7 %

NASDAQ NTLA opened at $10.99 on Monday. The company has a 50-day moving average price of $12.62 and a two-hundred day moving average price of $18.04. Intellia Therapeutics has a 52 week low of $9.25 and a 52 week high of $34.87. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -2.02 and a beta of 1.83.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.03. The business had revenue of $9.10 million during the quarter, compared to the consensus estimate 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 company earned ($1.38) earnings per share. As a group, equities research analysts expect that Intellia Therapeutics will post -5.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Intellia Therapeutics

In related news, CEO John M. Leonard sold 26,807 shares of Intellia Therapeutics stock in a transaction 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 sale, the chief executive officer now owns 941,115 shares of the company’s stock, valued at approximately $11,462,780.70. This trade represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 28,735 shares of company stock worth $349,909. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intellia Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. ARK Investment Management LLC increased its holdings in Intellia Therapeutics by 5.7% in the third quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock worth $251,849,000 after buying an additional 659,651 shares during the last quarter. State Street Corp increased its stake in shares of Intellia Therapeutics by 17.9% during the 3rd quarter. State Street Corp now owns 5,143,534 shares of the company’s stock worth $105,700,000 after purchasing an additional 780,754 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Intellia Therapeutics by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,343,310 shares of the company’s stock worth $48,164,000 after purchasing an additional 49,367 shares during the last quarter. FMR LLC raised its holdings in shares of Intellia Therapeutics by 5.0% during the 3rd quarter. FMR LLC now owns 2,339,522 shares of the company’s stock valued at $48,077,000 after purchasing an additional 111,104 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Intellia Therapeutics by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,324,561 shares of the company’s stock valued at $29,648,000 after purchasing an additional 98,865 shares during the last quarter. 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.