Intellia Therapeutics Receives Rating Upgrade from StockNews.com

On Monday, StockNews.com announced an upgrade for shares of Intellia Therapeutics (NASDAQ:NTLA – Free Report) by assigning them a sell rating. This change reflects the evolving perspectives on the company's stock among various brokerage firms.

Many other investment firms have also weighed in on Intellia. Morgan Stanley, for instance, altered its rating on Intellia Therapeutics from "overweight" to "equal weight," reducing the target price from $56.00 to $11.00 in a recent report dated January 27.

Other Brokerage Updates

Barclays has similarly revised its target price for Intellia Therapeutics, decreasing it from $55.00 to $26.00 while maintaining an "overweight" rating on the stock. In a report released the same week, The Goldman Sachs Group reaffirmed its "sell" rating and set a target price of $9.00.

Meanwhile, Wells Fargo & Company also adjusted its price objective for Intellia, lowering it from $60.00 to $50.00, while retaining an "overweight" rating. Citigroup, on the other hand, increased its price target from $12.00 to $14.00, providing a "neutral" rating in their analysis.

In total, the ratings for Intellia Therapeutics are diverse: two analysts have rated it as a sell, six have a hold rating, ten are at buy, and one analyst considers it a strong buy. Based on the consensus from MarketBeat, Intellia currently has an overall rating of "Moderate Buy" along with a consensus price target of $42.12.

Current Stock Performance

On the trading floor, Intellia Therapeutics opened at $9.45 on Monday, experiencing a drop of 6.3%. The company's fifty-day moving average stands at $10.80, while its two-hundred day moving average is $15.46. The stock has seen fluctuations in the past year, reaching a low of $8.96 and a high of $33.28. Intellia currently holds a market capitalization of $962.47 million, with a P/E ratio of -1.74 and a beta of 1.80.

Insider Selling Activity

In terms of insider activities, CEO John M. Leonard recently sold 26,807 shares of the company in a transaction that occurred on January 3. These shares were sold for an average price of $12.18, totaling approximately $326,509.26. After this sale, Leonard retains 941,115 shares valued at roughly $11,462,780.70, which reflects a 2.77% reduction in his ownership stake. Details regarding this sale have been filed with the Securities & Exchange Commission.

Institutional Investor Changes

A number of institutional investors have also adjusted their positions in Intellia recently. GF Fund Management CO. LTD. entered into a new position during the 4th quarter valued at about $25,000. Sterling Capital Management LLC significantly increased its stake by 866.2% during the same period, now owning 3,198 shares valued at $37,000.

Moreover, Whipplewood Advisors LLC made a new investment in Intellia during the 4th quarter, worth approximately $40,000. Similarly, Resona Asset Management Co. Ltd. and Mirae Asset Global Investments Co. Ltd. also acquired new stakes, continuing the trend of increased institutional interest. Collectively, hedge funds and institutional investors own about 88.77% of the company's stock.

About Intellia Therapeutics

Intellia Therapeutics, Inc. is a biotechnology company that specializes in genome editing and aims to develop curative therapies. Their in vivo programs include NTLA-2001, currently undergoing Phase 1 clinical trials for the treatment of transthyretin amyloidosis, NTLA-2002 for hereditary angioedema, and NTLA-3001 for alpha-1 antitrypsin deficiency associated lung disease.

Intellia, Stocks, Rating