Intellia Therapeutics (NASDAQ:NTLA) Given New $60.00 Price Target at Wells Fargo & Company

Intellia Therapeutics (NASDAQ:NTLA) had its price objective lowered 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.

Several other analysts also recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $54.00 price target on shares of Intellia Therapeutics in a research note on Thursday, September 19th. Citigroup lowered their price target on Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Barclays reduced their price objective on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. StockNews.com upgraded shares of Intellia Therapeutics to a “sell” rating in a research note on Friday, November 8th. Finally, Oppenheimer cut their target price on shares of Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Intellia Therapeutics has an average rating of “Moderate Buy” and an average price target of $52.81.

Intellia Therapeutics Stock Performance

Intellia Therapeutics stock opened at $10.20 on Friday. The firm’s 50 day moving average price is $13.77 and its two-hundred day moving average price is $18.99. The firm has a market cap of $1.04 billion, a PE ratio of -1.87 and a beta of 1.83. Intellia Therapeutics has a twelve month low of $9.93 and a twelve month high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last posted its earnings results on Thursday, November 7th. The company reported ($1.34) EPS for the quarter, topping the consensus estimate of ($1.37) by $0.03. The business had revenue of $9.10 million during the quarter, compared to the consensus estimate of $8.28 million. The business’s revenue was down 24.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.38) earnings per share. Equities analysts anticipate that Intellia Therapeutics will post -5.12 EPS for the current fiscal year.

Insider Buying and Selling at Intellia Therapeutics

In related news, CEO John M. Leonard sold 26,807 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $12.18, for a total transaction of $326,509.26. Following the completion of the sale, the chief executive officer now owns 941,115 shares in the company, valued at $11,462,780.70. This trade represents a 2.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 28,735 shares of company stock valued at $349,909 in the last 90 days. 3.20% of the stock is currently owned by company insiders.

Institutional Trading of Intellia Therapeutics

Several hedge funds have recently modified their holdings of NTLA. State Street Corp grew its position in Intellia Therapeutics by 17.9% during the 3rd quarter. State Street Corp now owns 5,143,534 shares of the company’s stock worth $105,700,000 after acquiring an additional 780,754 shares during the last quarter. Patient Square Capital LP bought a new stake in shares of Intellia Therapeutics during the third quarter worth $2,642,000. Dimensional Fund Advisors LP increased its stake in shares of Intellia Therapeutics by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,324,561 shares of the company’s stock valued at $29,648,000 after buying an additional 98,865 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Intellia Therapeutics by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 827,545 shares of the company’s stock valued at $17,006,000 after buying an additional 37,714 shares during the last quarter. Finally, Verition Fund Management LLC raised its holdings in shares of Intellia Therapeutics by 116.3% in the third quarter. Verition Fund Management LLC now owns 94,426 shares of the company’s stock valued at $1,940,000 after buying an additional 50,763 shares during 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.