Intellia Therapeutics (NASDAQ:NTLA) PT Lowered to $19.00 at Citigroup

Intellia Therapeutics (NASDAQ:NTLA) had its price objective lowered by research analysts at Citigroup from $25.00 to $19.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective would suggest a potential upside of 19.12% from the stock’s current price.

Several other equities research analysts also recently issued reports on NTLA. Evercore ISI upgraded shares of Intellia Therapeutics to a “strong-buy” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. lowered their price target on Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating for the company in a report on Monday, August 12th. The Goldman Sachs Group reduced their price objective on Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday. Canaccord Genuity Group reiterated a “buy” rating and issued a $73.00 target price on shares of Intellia Therapeutics in a research note on Thursday, June 27th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $54.00 price target on shares of Intellia Therapeutics in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.13.

Intellia Therapeutics Price Performance

NTLA opened at $15.95 on Friday. Intellia Therapeutics has a 12 month low of $15.35 and a 12 month high of $34.87. The business has a 50-day moving average of $20.71 and a two-hundred day moving average of $22.73. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -2.91 and a beta of 1.76.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($1.52) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.29). The business had revenue of $7.00 million during the quarter, compared to the consensus estimate of $19.68 million. Intellia Therapeutics’s revenue was down 48.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.40) EPS. Equities research analysts anticipate that Intellia Therapeutics will post -5.22 earnings per share for the current year.

Insider Activity

In related news, CAO Michael P. Dube sold 2,012 shares of Intellia Therapeutics stock in a transaction dated 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

A number of hedge funds have recently added to or reduced their stakes in NTLA. Blue Trust Inc. boosted its stake in Intellia Therapeutics by 1,664.3% in the second quarter. Blue Trust Inc. now owns 1,482 shares of the company’s stock valued at $33,000 after acquiring an additional 1,398 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Intellia Therapeutics by 763.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock worth $39,000 after purchasing an additional 1,550 shares during the last quarter. Eastern Bank bought a new stake in shares of Intellia Therapeutics in the 3rd quarter worth approximately $41,000. Values First Advisors Inc. acquired a new position in Intellia Therapeutics during the 3rd quarter valued at approximately $54,000. Finally, First Horizon Advisors Inc. grew its stake in Intellia Therapeutics by 22.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company’s stock worth $58,000 after buying an additional 472 shares during the last quarter. Institutional investors and hedge funds 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.