The Goldman Sachs Group Lowers Intellia Therapeutics (NASDAQ:NTLA) Price Target to $20.00

Intellia Therapeutics (NASDAQ:NTLA) had its target price reduced by equities research analysts at The Goldman Sachs Group from $31.00 to $20.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 25.39% from the company’s current price.

A number of other equities research analysts also recently commented on NTLA. Chardan Capital cut their price objective on Intellia Therapeutics from $94.00 to $88.00 and set a “buy” rating for the company in a research report on Thursday. JPMorgan Chase & Co. decreased their price target on Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Canaccord Genuity Group reissued a “buy” rating and issued a $73.00 price target on shares of Intellia Therapeutics in a research note on Thursday, June 27th. Evercore ISI raised shares of Intellia Therapeutics to a “strong-buy” rating in a research note on Friday, August 9th. Finally, StockNews.com raised shares of Intellia Therapeutics to a “sell” rating in a research report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $59.13.

Intellia Therapeutics Trading Up 0.6 %

Shares of Intellia Therapeutics stock opened at $15.95 on Friday. Intellia Therapeutics has a 52 week low of $15.35 and a 52 week high of $34.87. The stock has a market cap of $1.62 billion, a PE ratio of -2.91 and a beta of 1.76. The company’s 50-day moving average price is $20.71 and its two-hundred day moving average price is $22.73.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Thursday, August 8th. The company reported ($1.52) EPS for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.29). The company had revenue of $7.00 million for the quarter, compared to analyst estimates of $19.68 million. Intellia Therapeutics’s quarterly revenue was down 48.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.40) EPS. On average, equities analysts predict that Intellia Therapeutics will post -5.22 EPS for the current fiscal year.

Insider Buying and Selling at Intellia Therapeutics

In other news, CAO Michael P. Dube sold 2,012 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total transaction of $38,248.12. Following the completion of the sale, the chief accounting officer now directly owns 47,012 shares of the company’s stock, valued at $893,698.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NTLA. First Horizon Advisors Inc. increased its position in Intellia Therapeutics by 22.1% during the second 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. Elmwood Wealth Management Inc. increased its holdings in shares of Intellia Therapeutics by 0.9% during the 3rd quarter. Elmwood Wealth Management Inc. now owns 67,774 shares of the company’s stock valued at $1,393,000 after acquiring an additional 600 shares during the last quarter. Interchange Capital Partners LLC raised its stake in shares of Intellia Therapeutics by 6.5% in the 1st quarter. Interchange Capital Partners LLC now owns 10,909 shares of the company’s stock valued at $303,000 after acquiring an additional 670 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Intellia Therapeutics by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,894 shares of the company’s stock worth $245,000 after purchasing an additional 750 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Intellia Therapeutics by 27.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock worth $77,000 after purchasing an additional 794 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.