Truist Financial Issues Pessimistic Forecast for Intellia Therapeutics (NASDAQ:NTLA) Stock Price

Intellia Therapeutics (NASDAQ:NTLA) had its target price decreased by investment analysts at Truist Financial from $90.00 to $50.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 434.19% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Barclays reduced their price target on shares of Intellia Therapeutics from $55.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Morgan Stanley downgraded Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $56.00 to $11.00 in a research note on Monday, January 27th. StockNews.com raised Intellia Therapeutics to a “sell” rating in a research report on Monday. Oppenheimer cut their price target on Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Finally, Wedbush restated a “neutral” rating and set a $10.00 price objective (down previously from $14.00) on shares of Intellia Therapeutics in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Intellia Therapeutics has an average rating of “Moderate Buy” and an average target price of $37.56.

Intellia Therapeutics Stock Performance

Intellia Therapeutics stock opened at $9.36 on Tuesday. The stock has a market capitalization of $968.92 million, a price-to-earnings ratio of -1.72 and a beta of 1.97. Intellia Therapeutics has a 52-week low of $8.30 and a 52-week high of $32.00. The stock’s 50 day moving average price is $10.69 and its two-hundred day moving average price is $15.32.

Insider Transactions at Intellia Therapeutics

In related news, CEO John M. Leonard sold 26,807 shares of Intellia Therapeutics stock in a transaction 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 sale, the chief executive officer now directly owns 941,115 shares in the company, valued at approximately $11,462,780.70. This trade represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 29,000 shares of company stock worth $352,551 in the last 90 days. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Intellia Therapeutics

Large investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. purchased a new position in shares of Intellia Therapeutics in the 4th quarter worth about $25,000. Sterling Capital Management LLC boosted its stake in Intellia Therapeutics by 866.2% in the fourth quarter. Sterling Capital Management LLC now owns 3,198 shares of the company’s stock valued at $37,000 after acquiring an additional 2,867 shares during the last quarter. Whipplewood Advisors LLC purchased a new position in Intellia Therapeutics in the fourth quarter valued at about $40,000. Resona Asset Management Co. Ltd. bought a new position in shares of Intellia Therapeutics during the 4th quarter valued at approximately $43,000. Finally, Jones Financial Companies Lllp increased its stake in shares of Intellia Therapeutics by 140.9% during the 4th quarter. Jones Financial Companies Lllp now owns 3,898 shares of the company’s stock worth $45,000 after purchasing an additional 2,280 shares during the last quarter. 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.