Wells Fargo & Company Lowers Intellia Therapeutics (NASDAQ:NTLA) Price Target to $70.00

Intellia Therapeutics (NASDAQ:NTLA) had its target price cut by stock analysts at Wells Fargo & Company from $80.00 to $70.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 395.40% from the company’s previous close.

A number of other research firms also recently issued reports on NTLA. Chardan Capital lifted their price target on shares of Intellia Therapeutics from $88.00 to $91.00 and gave the company a “buy” rating in a research report on Monday. StockNews.com upgraded Intellia Therapeutics to a “sell” rating in a research report on Friday, November 8th. Stifel Nicolaus cut their price objective on Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Royal Bank of Canada restated an “outperform” rating and set a $54.00 price objective on shares of Intellia Therapeutics in a research report on Thursday, September 19th. Finally, Robert W. Baird cut their price objective on Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.94.

Intellia Therapeutics Trading Down 0.3 %

NTLA stock opened at $14.13 on Monday. The firm has a 50 day moving average of $18.52 and a 200-day moving average of $21.97. Intellia Therapeutics has a 12-month low of $13.54 and a 12-month high of $34.87. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -2.60 and a beta of 1.81.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business posted ($1.38) earnings per share. Intellia Therapeutics’s revenue was down 24.1% on a year-over-year basis. Sell-side analysts forecast that Intellia Therapeutics will post -5.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Intellia Therapeutics

In other news, CAO Michael P. Dube sold 2,012 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $893,698.12. The trade was a 4.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.20% of the stock is currently owned by insiders.

Institutional Trading of Intellia Therapeutics

Institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in shares of Intellia Therapeutics by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,324,561 shares of the company’s stock valued at $29,648,000 after buying an additional 98,865 shares during the period. Thrivent Financial for Lutherans purchased a new stake in shares of Intellia Therapeutics during the 2nd quarter valued at $679,000. American Century Companies Inc. grew its stake in shares of Intellia Therapeutics by 23.8% during the 2nd quarter. American Century Companies Inc. now owns 330,514 shares of the company’s stock valued at $7,397,000 after buying an additional 63,550 shares during the period. Comerica Bank grew its stake in shares of Intellia Therapeutics by 853.6% during the 1st quarter. Comerica Bank now owns 37,105 shares of the company’s stock valued at $1,021,000 after buying an additional 33,214 shares during the period. Finally, Vanguard Group Inc. boosted its position in Intellia Therapeutics by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock worth $250,168,000 after purchasing an additional 746,263 shares during the period. 88.77% of the stock is owned by hedge funds and other institutional investors.

Intellia Therapeutics Company Profile

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.