Intellia Therapeutics (NASDAQ:NTLA) Price Target Cut to $19.00

Intellia Therapeutics (NASDAQ:NTLA) had its target price decreased by equities researchers at Citigroup from $25.00 to $19.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price points to a potential upside of 19.12% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Chardan Capital reduced their price target on shares of Intellia Therapeutics from $94.00 to $88.00 and set a “buy” rating on the stock in a research note on Thursday. StockNews.com upgraded Intellia Therapeutics to a “sell” rating in a research report on Thursday, June 27th. Evercore ISI upgraded Intellia Therapeutics to a “strong-buy” rating in a report on Friday, August 9th. Robert W. Baird dropped their target price on Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $73.00 price objective on shares of Intellia Therapeutics in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Intellia Therapeutics has an average rating of “Moderate Buy” and an average target price of $59.13.

Intellia Therapeutics Trading Up 0.6 %

Shares of NTLA opened at $15.95 on Friday. The firm has a market capitalization of $1.62 billion, a P/E ratio of -2.91 and a beta of 1.76. The firm has a 50-day moving average price of $20.71 and a 200 day moving average price of $22.73. Intellia Therapeutics has a 12-month low of $15.35 and a 12-month high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.52) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.29). The firm had revenue of $7.00 million for the quarter, compared to analysts’ expectations of $19.68 million. During the same quarter in the previous year, the firm posted ($1.40) earnings per share. The business’s revenue for the quarter was down 48.5% on a year-over-year basis. Equities research analysts predict that Intellia Therapeutics will post -5.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Michael P. Dube sold 2,012 shares of Intellia Therapeutics stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total transaction of $38,248.12. Following the completion of the sale, the chief accounting officer now directly owns 47,012 shares in the company, valued at approximately $893,698.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Intellia Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. SteelPeak Wealth LLC acquired a new stake in Intellia Therapeutics during the 3rd quarter valued at $393,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Intellia Therapeutics by 72.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 19,537 shares of the company’s stock valued at $401,000 after acquiring an additional 8,204 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of 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 valued at $77,000 after acquiring an additional 794 shares during the last quarter. Values First Advisors Inc. purchased a new stake in Intellia Therapeutics during the 3rd quarter worth about $54,000. Finally, Hennion & Walsh Asset Management Inc. raised its stake in Intellia Therapeutics by 34.7% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 53,721 shares of the company’s stock valued at $1,104,000 after purchasing an additional 13,839 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.