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

Intellia Therapeutics (NASDAQ:NTLA) had its price objective trimmed by Wells Fargo & Company from $70.00 to $60.00 in a report published on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities research analysts have also issued research reports about the stock. Robert W. Baird lowered their target price on shares of Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Citigroup lowered their price objective on Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Wedbush reaffirmed a “neutral” rating and set a $14.00 target price on shares of Intellia Therapeutics in a research report on Monday, November 18th. Canaccord Genuity Group reissued a “buy” rating and issued a $90.00 price target on shares of Intellia Therapeutics in a research report on Tuesday, November 19th. Finally, William Blair reaffirmed a “neutral” rating and set a $14.00 price objective on shares of Intellia Therapeutics in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, six have given 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 company currently has an average rating of “Moderate Buy” and an average target price of $52.81.

Intellia Therapeutics Stock Down 15.1 %

NASDAQ NTLA opened at $10.20 on Friday. Intellia Therapeutics has a 52 week low of $9.93 and a 52 week high of $34.87. The business has a 50 day moving average price of $13.77 and a 200-day moving average price of $18.93. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -1.87 and a beta of 1.83.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.37) by $0.03. The business had revenue of $9.10 million during the quarter, compared to analyst estimates of $8.28 million. During the same period in the previous year, the business posted ($1.38) EPS. The business’s revenue for the quarter was down 24.1% compared to the same quarter last year. On average, equities research analysts anticipate that Intellia Therapeutics will post -5.12 earnings per share for the current 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 dated Friday, January 3rd. The stock was sold at an average price of $12.18, for a total value 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. The trade was a 2.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 28,735 shares of company stock worth $349,909. Insiders own 3.20% of the company’s stock.

Institutional Trading of Intellia Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of NTLA. Franklin Resources Inc. boosted its holdings in Intellia Therapeutics by 10.3% in the 3rd quarter. Franklin Resources Inc. now owns 16,405 shares of the company’s stock worth $320,000 after buying an additional 1,538 shares during the period. Sanctuary Advisors LLC lifted its position in shares of 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 acquiring an additional 31,976 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Intellia Therapeutics in the third quarter worth $417,000. Geode Capital Management LLC grew its position in shares of Intellia Therapeutics by 2.2% in the third quarter. Geode Capital Management LLC now owns 2,343,310 shares of the company’s stock valued at $48,164,000 after purchasing an additional 49,367 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Intellia Therapeutics by 17.7% during the 3rd quarter. Barclays PLC now owns 292,795 shares of the company’s stock valued at $6,017,000 after purchasing an additional 44,022 shares during the period. Institutional investors own 88.77% of the company’s stock.

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.