BMO Capital Markets Cuts Intellia Therapeutics (NASDAQ:NTLA) Price Target to $50.00

Intellia Therapeutics (NASDAQ:NTLA) had its price objective reduced by BMO Capital Markets from $70.00 to $50.00 in a research note published on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages also recently commented on NTLA. Wedbush restated a “neutral” rating and issued a $14.00 target price on shares of Intellia Therapeutics in a research note on Monday, November 18th. Citigroup lowered their price objective on Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Chardan Capital lifted their target price on shares of Intellia Therapeutics from $88.00 to $91.00 and gave the company a “buy” rating in a report on Monday, November 18th. Canaccord Genuity Group reissued a “buy” rating and set a $90.00 price target on shares of Intellia Therapeutics in a report on Tuesday, November 19th. Finally, William Blair reaffirmed a “neutral” rating and issued a $14.00 price objective on shares of Intellia Therapeutics in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $52.81.

Intellia Therapeutics Stock Performance

Shares of NTLA opened at $10.20 on Friday. The stock has a 50-day moving average of $13.77 and a two-hundred day moving average of $18.93. The stock has a market cap of $1.04 billion, a P/E ratio of -1.87 and a beta of 1.83. Intellia Therapeutics has a one year low of $9.93 and a one year high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Thursday, November 7th. The company reported ($1.34) EPS for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.03. The firm had revenue of $9.10 million for the quarter, compared to analyst estimates of $8.28 million. During the same period last year, the firm earned ($1.38) EPS. The company’s revenue for the quarter was down 24.1% compared to the same quarter last year. Analysts predict that Intellia Therapeutics will post -5.12 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO John M. Leonard sold 26,807 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $12.18, for a total transaction of $326,509.26. Following the transaction, the chief executive officer now directly owns 941,115 shares in the company, valued at $11,462,780.70. The trade was a 2.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 28,735 shares of company stock worth $349,909. 3.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intellia Therapeutics

A number of large investors have recently made changes to their positions in NTLA. Franklin Resources Inc. boosted its position in shares of Intellia Therapeutics by 10.3% during the 3rd quarter. Franklin Resources Inc. now owns 16,405 shares of the company’s stock valued at $320,000 after acquiring an additional 1,538 shares during the last quarter. Sanctuary Advisors LLC raised its stake in Intellia Therapeutics by 147.9% during the third quarter. Sanctuary Advisors LLC now owns 53,590 shares of the company’s stock worth $1,101,000 after purchasing an additional 31,976 shares during the period. Virtu Financial LLC acquired a new position in Intellia Therapeutics in the 3rd quarter valued at about $417,000. Geode Capital Management LLC grew its stake in shares of Intellia Therapeutics by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,343,310 shares of the company’s stock valued at $48,164,000 after buying an additional 49,367 shares during the period. Finally, Barclays PLC increased its holdings in shares of Intellia Therapeutics by 17.7% during the 3rd quarter. Barclays PLC now owns 292,795 shares of the company’s stock worth $6,017,000 after buying an additional 44,022 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.