Intellia Therapeutics, Inc. (NASDAQ:NTLA) Receives $55.36 Average PT from Brokerages

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA) have earned an average recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $53.88.

Several equities analysts recently commented on the stock. Robert W. Baird dropped their price target on shares of Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Citigroup dropped their price objective on shares of Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. The Goldman Sachs Group lowered their price target on Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $54.00 target price on shares of Intellia Therapeutics in a research report on Thursday, September 19th. Finally, Barclays reduced their price target on Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th.

Insiders Place Their Bets

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,012 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total value of $38,248.12. Following the sale, the chief accounting officer now directly owns 47,012 shares in the company, valued at approximately $893,698.12. The trade was a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.20% of the stock is owned by corporate insiders.

Institutional Trading of Intellia Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in NTLA. First Horizon Advisors Inc. boosted its position in shares of Intellia Therapeutics by 22.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company’s stock valued at $58,000 after purchasing an additional 472 shares during the period. Elmwood Wealth Management Inc. boosted its holdings in shares of Intellia Therapeutics by 0.9% in the third quarter. Elmwood Wealth Management Inc. now owns 67,774 shares of the company’s stock worth $1,393,000 after buying an additional 600 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Intellia Therapeutics by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,894 shares of the company’s stock worth $245,000 after acquiring an additional 750 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings 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 period. Finally, Capstone Investment Advisors LLC lifted its position in shares of Intellia Therapeutics by 1.4% in the 3rd quarter. Capstone Investment Advisors LLC now owns 61,129 shares of the company’s stock valued at $1,256,000 after acquiring an additional 831 shares in the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

Intellia Therapeutics Price Performance

NASDAQ:NTLA opened at $14.17 on Friday. The firm has a market cap of $1.44 billion, a PE ratio of -2.58 and a beta of 1.81. The firm has a 50 day simple moving average of $18.64 and a 200-day simple moving average of $22.04. Intellia Therapeutics has a 1-year low of $13.54 and a 1-year high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings results 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 analyst estimates of $8.28 million. The firm’s quarterly revenue was down 24.1% on a year-over-year basis. During the same period in the previous year, the business posted ($1.38) earnings per share. As a group, sell-side analysts expect that Intellia Therapeutics will post -5.13 earnings per share for the current fiscal year.

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.