Intellia Therapeutics (NASDAQ:NTLA) Given New $70.00 Price Target at Wells Fargo & Company

Intellia Therapeutics (NASDAQ:NTLA) had its price objective cut by Wells Fargo & Company from $80.00 to $70.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also recently commented on NTLA. Robert W. Baird decreased their price target on shares of Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. cut their price target on Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. Chardan Capital lifted their price objective on Intellia Therapeutics from $88.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday. StockNews.com raised shares of Intellia Therapeutics to a “sell” rating in a research note on Friday, November 8th. Finally, Evercore ISI raised shares of Intellia Therapeutics to a “strong-buy” rating in a research note on Friday, August 9th. One analyst has 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.94.

Intellia Therapeutics Stock Performance

Shares of NTLA opened at $13.12 on Monday. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -2.41 and a beta of 1.81. The stock has a fifty day moving average price of $18.40 and a two-hundred day moving average price of $21.91. Intellia Therapeutics has a 52-week low of $12.82 and a 52-week high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last released 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 business had revenue of $9.10 million during the quarter, compared to the consensus estimate of $8.28 million. During the same period in the prior year, the firm earned ($1.38) earnings per share. The business’s quarterly revenue was down 24.1% compared to the same quarter last year. As a group, research analysts predict that Intellia Therapeutics will post -5.13 EPS for the current fiscal year.

Insider Transactions at Intellia Therapeutics

In related news, CAO Michael P. Dube sold 2,012 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total value of $38,248.12. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intellia Therapeutics

Large investors have recently made changes to their positions in the stock. ARK Investment Management LLC boosted its stake in Intellia Therapeutics by 5.7% in the 3rd 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. Vanguard Group Inc. lifted its holdings in shares of Intellia Therapeutics by 8.9% in the first quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock valued at $250,168,000 after purchasing an additional 746,263 shares in the last quarter. State Street Corp boosted its position in shares of Intellia Therapeutics by 17.9% during the third 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 holdings in shares of Intellia Therapeutics by 2.2% during the third 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 in the last quarter. Finally, FMR LLC lifted its stake in 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. Institutional investors own 88.77% of the company’s stock.

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.