Wells Fargo & Company Cuts Intellia Therapeutics (NASDAQ:NTLA) Price Target to $60.00

Intellia Therapeutics (NASDAQ:NTLA) had its target price cut by Wells Fargo & Company from $70.00 to $60.00 in a research note published on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also recently weighed in on NTLA. Citigroup cut 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. Canaccord Genuity Group reiterated a “buy” rating and set a $90.00 price target on shares of Intellia Therapeutics in a research report on Tuesday, November 19th. Chardan Capital lifted their price objective on shares of Intellia Therapeutics from $88.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Royal Bank of Canada restated an “outperform” rating and set a $54.00 target price on shares of Intellia Therapeutics in a research note on Thursday, September 19th. Finally, Robert W. Baird decreased their price target on Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.81.

Intellia Therapeutics Trading Down 15.1 %

Shares of NTLA opened at $10.20 on Friday. The stock has a market capitalization of $1.04 billion, a PE ratio of -1.87 and a beta of 1.83. The firm’s 50 day moving average is $13.77 and its 200-day moving average is $18.93. Intellia Therapeutics has a 12 month low of $9.93 and a 12 month high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) earnings per share for the quarter, beating the consensus estimate of ($1.37) by $0.03. The company had revenue of $9.10 million during the quarter, compared to analyst estimates of $8.28 million. Intellia Therapeutics’s revenue was down 24.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.38) earnings per share. Equities research analysts predict that Intellia Therapeutics will post -5.12 earnings per share for the current fiscal year.

Insider Activity at Intellia Therapeutics

In related news, CEO John M. Leonard sold 26,807 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $12.18, for a total value of $326,509.26. Following the transaction, the chief executive officer now owns 941,115 shares in the company, valued at $11,462,780.70. The trade was a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 28,735 shares of company stock worth $349,909 over the last ninety days. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. ARK Investment Management LLC grew its stake in Intellia Therapeutics by 5.7% during the third quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock worth $251,849,000 after purchasing an additional 659,651 shares during the period. State Street Corp grew its position in shares of Intellia Therapeutics by 17.9% during the 3rd quarter. State Street Corp now owns 5,143,534 shares of the company’s stock worth $105,700,000 after buying an additional 780,754 shares during the period. Geode Capital Management LLC grew its position in shares of Intellia Therapeutics by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,343,310 shares of the company’s stock worth $48,164,000 after buying an additional 49,367 shares during the period. FMR LLC increased its stake in shares of Intellia Therapeutics by 5.0% in the 3rd quarter. FMR LLC now owns 2,339,522 shares of the company’s stock valued at $48,077,000 after acquiring an additional 111,104 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Intellia Therapeutics by 19.2% during the 2nd quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock valued at $51,494,000 after acquiring an additional 371,189 shares during the period. 88.77% of the stock is owned by 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.