Intellia Therapeutics (NASDAQ:NTLA) Given New $68.00 Price Target at Chardan Capital

Intellia Therapeutics (NASDAQ:NTLA) had its price target cut by stock analysts at Chardan Capital from $91.00 to $68.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

Several other research firms have also recently weighed in on NTLA. Canaccord Genuity Group reiterated a “buy” rating and issued a $90.00 target price on shares of Intellia Therapeutics in a research note on Tuesday, November 19th. Morgan Stanley lowered shares of Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $56.00 to $11.00 in a research report on Monday, January 27th. BMO Capital Markets dropped their price target on shares of Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Barclays dropped their price target on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Finally, Wedbush reissued a “neutral” rating and issued a $10.00 price target (down previously from $14.00) on shares of Intellia Therapeutics in a research report on Friday, January 10th. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Intellia Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $42.12.

Intellia Therapeutics Stock Performance

NASDAQ NTLA opened at $10.09 on Friday. The firm has a 50-day simple moving average of $10.85 and a 200 day simple moving average of $15.64. Intellia Therapeutics has a twelve month low of $8.96 and a twelve month high of $34.87. The stock has a market cap of $1.03 billion, a PE ratio of -1.85 and a beta of 1.80.

Insider Transactions at Intellia Therapeutics

In related news, CEO John M. Leonard sold 26,807 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $12.18, for a total value of $326,509.26. Following the completion of the sale, the chief executive officer now owns 941,115 shares of the company’s stock, valued at $11,462,780.70. This trade represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 29,000 shares of company stock valued at $352,551. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of Intellia Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of NTLA. Regeneron Pharmaceuticals Inc. acquired a new stake in shares of Intellia Therapeutics in the fourth quarter valued at approximately $43,177,000. Voloridge Investment Management LLC increased its holdings in shares of Intellia Therapeutics by 226.8% in the fourth quarter. Voloridge Investment Management LLC now owns 1,526,994 shares of the company’s stock valued at $17,805,000 after purchasing an additional 1,059,751 shares in the last quarter. Contrarius Group Holdings Ltd acquired a new stake in shares of Intellia Therapeutics in the fourth quarter valued at approximately $11,798,000. Two Sigma Advisers LP increased its holdings in shares of Intellia Therapeutics by 94.5% in the fourth quarter. Two Sigma Advisers LP now owns 1,998,317 shares of the company’s stock valued at $23,300,000 after purchasing an additional 970,700 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of Intellia Therapeutics by 88.1% in the fourth quarter. Two Sigma Investments LP now owns 1,843,743 shares of the company’s stock valued at $21,498,000 after purchasing an additional 863,363 shares in the last quarter. Institutional investors and hedge funds 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.