Intellia Therapeutics (NASDAQ:NTLA) Price Target Cut to $60.00 by Analysts at Chardan Capital

Intellia Therapeutics (NASDAQ:NTLA) had its price objective decreased by equities research analysts at Chardan Capital from $68.00 to $60.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Chardan Capital’s price objective would suggest a potential upside of 452.49% from the stock’s current price.

NTLA has been the topic of a number of other research reports. Citigroup dropped their target price on Intellia Therapeutics from $14.00 to $10.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. Royal Bank Of Canada dropped their target price on Intellia Therapeutics from $25.00 to $21.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $45.00 price objective (down previously from $50.00) on shares of Intellia Therapeutics in a report on Friday. Wolfe Research raised Intellia Therapeutics from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Monday, April 21st. Finally, Guggenheim dropped their price objective on Intellia Therapeutics from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.68.

Intellia Therapeutics Trading Up 1.1%

NASDAQ:NTLA opened at $10.86 on Monday. The firm has a market cap of $1.17 billion, a P/E ratio of -2.32 and a beta of 2.31. The stock’s 50 day simple moving average is $10.68 and its 200-day simple moving average is $9.49. Intellia Therapeutics has a 12-month low of $5.90 and a 12-month high of $24.16.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Thursday, August 7th. The company reported ($0.99) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.04. The business had revenue of $14.25 million for the quarter, compared to analyst estimates of $12.26 million. Intellia Therapeutics had a negative return on equity of 57.48% and a negative net margin of 908.48%. The company’s revenue for the quarter was up 104.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.52) earnings per share. Research analysts forecast that Intellia Therapeutics will post -5.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intellia Therapeutics news, EVP Edward J. Dulac III sold 7,462 shares of the company’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $14.02, for a total value of $104,617.24. Following the sale, the executive vice president owned 106,062 shares of the company’s stock, valued at approximately $1,486,989.24. This represents a 6.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 12,534 shares of company stock valued at $153,837 over the last quarter. 3.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Intellia Therapeutics

Large investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. grew its holdings in Intellia Therapeutics by 51.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,726 shares of the company’s stock valued at $140,000 after purchasing an additional 6,722 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of Intellia Therapeutics by 76.2% during the first quarter. D.A. Davidson & CO. now owns 26,020 shares of the company’s stock valued at $185,000 after acquiring an additional 11,250 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of Intellia Therapeutics by 4.1% during the fourth quarter. California State Teachers Retirement System now owns 90,638 shares of the company’s stock valued at $1,057,000 after acquiring an additional 3,596 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Intellia Therapeutics during the fourth quarter valued at $4,793,000. Finally, Baker BROS. Advisors LP acquired a new stake in shares of Intellia Therapeutics during the fourth quarter valued at $7,510,000. 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.