Wolfe Research Upgrades Intellia Therapeutics (NASDAQ:NTLA) to Outperform

Intellia Therapeutics (NASDAQ:NTLA) was upgraded by equities research analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The brokerage presently has a $21.00 price objective on the stock. Wolfe Research’s target price points to a potential upside of 190.46% from the company’s current price.

NTLA has been the subject of a number of other research reports. Chardan Capital lowered their price objective on Intellia Therapeutics from $91.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Barclays dropped their price objective on shares of Intellia Therapeutics from $55.00 to $26.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Truist Financial decreased their target price on shares of Intellia Therapeutics from $90.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. HC Wainwright initiated coverage on shares of Intellia Therapeutics in a research note on Wednesday, March 5th. They set a “buy” rating and a $30.00 price target on the stock. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $13.00 price objective (down from $45.00) on shares of Intellia Therapeutics in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.68.

Intellia Therapeutics Stock Performance

Shares of NTLA opened at $7.23 on Monday. Intellia Therapeutics has a 1 year low of $5.90 and a 1 year high of $28.18. The company’s 50 day simple moving average is $8.89 and its 200 day simple moving average is $12.11. The company has a market capitalization of $748.43 million, a price-to-earnings ratio of -1.33 and a beta of 2.23.

Hedge Funds Weigh In On Intellia Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. GF Fund Management CO. LTD. acquired a new stake in Intellia Therapeutics in the fourth quarter valued at $25,000. Sterling Capital Management LLC lifted its position in shares of Intellia Therapeutics by 866.2% during the fourth quarter. Sterling Capital Management LLC now owns 3,198 shares of the company’s stock worth $37,000 after purchasing an additional 2,867 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in Intellia Therapeutics in the fourth quarter worth about $40,000. Resona Asset Management Co. Ltd. acquired a new position in Intellia Therapeutics in the fourth quarter worth about $43,000. Finally, Jones Financial Companies Lllp increased its holdings in Intellia Therapeutics by 140.9% in the fourth quarter. Jones Financial Companies Lllp now owns 3,898 shares of the company’s stock valued at $45,000 after buying an additional 2,280 shares during the last quarter. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

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.