Intellia Therapeutics (NASDAQ:NTLA) Cut to “Equal Weight” at Morgan Stanley

Intellia Therapeutics (NASDAQ:NTLA) was downgraded by equities research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Monday, Marketbeat Ratings reports. They presently have a $11.00 price objective on the stock, down from their previous price objective of $56.00. Morgan Stanley’s target price would indicate a potential upside of 0.09% from the stock’s previous close.

NTLA has been the topic of several other reports. Robert W. Baird decreased their price objective on shares of Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company dropped their price objective on shares of Intellia Therapeutics from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. BMO Capital Markets cut their price objective on Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Citigroup dropped their price target on Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, Barclays cut their target price on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.71.

Intellia Therapeutics Stock Performance

Intellia Therapeutics stock opened at $10.99 on Monday. Intellia Therapeutics has a one year low of $9.25 and a one year high of $34.87. The company has a market cap of $1.12 billion, a P/E ratio of -2.02 and a beta of 1.83. The business has a fifty day moving average of $12.62 and a two-hundred day moving average of $18.04.

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 the consensus estimate of ($1.37) by $0.03. The company had revenue of $9.10 million for the quarter, compared to analyst estimates of $8.28 million. During the same quarter in the previous year, the company posted ($1.38) earnings per share. The company’s quarterly revenue was down 24.1% compared to the same quarter last year. Sell-side analysts predict that Intellia Therapeutics will post -5.09 EPS for the current year.

Insider Activity at Intellia Therapeutics

In other news, CEO John M. Leonard sold 26,807 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $12.18, for a total value 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 $11,462,780.70. This represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have sold 28,735 shares of company stock worth $349,909. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NTLA. Eastern Bank bought a new stake in Intellia Therapeutics in the third quarter valued at about $41,000. Values First Advisors Inc. bought a new stake in shares of Intellia Therapeutics in the 3rd quarter valued at approximately $54,000. KBC Group NV raised its position in shares of Intellia Therapeutics by 62.4% during the 4th quarter. KBC Group NV now owns 6,093 shares of the company’s stock valued at $71,000 after acquiring an additional 2,340 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Intellia Therapeutics by 27.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock worth $77,000 after purchasing an additional 794 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Intellia Therapeutics by 182.7% in the 3rd quarter. Blue Trust Inc. now owns 4,189 shares of the company’s stock valued at $94,000 after buying an additional 2,707 shares during the period. Hedge funds and other institutional investors own 88.77% of the company’s stock.

About Intellia Therapeutics

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.