Wells Fargo & Company Cuts Intellia Therapeutics (NASDAQ:NTLA) Price Target to $70.00

Intellia Therapeutics (NASDAQ:NTLA) had its price objective reduced by Wells Fargo & Company from $80.00 to $70.00 in a research note released on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also weighed in on NTLA. StockNews.com raised Intellia Therapeutics to a “sell” rating in a research report on Friday, November 8th. 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. Citigroup lowered their target price on shares of Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Chardan Capital boosted their price target on Intellia Therapeutics from $88.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Wedbush reissued a “neutral” rating and issued a $14.00 price objective on shares of Intellia Therapeutics in a research note on Monday. One investment 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 stock. According to data from MarketBeat, Intellia Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $54.94.

Intellia Therapeutics Trading Down 7.1 %

Shares of NASDAQ NTLA opened at $13.12 on Monday. Intellia Therapeutics has a one year low of $12.82 and a one year high of $34.87. The business has a 50-day moving average price of $18.40 and a two-hundred day moving average price of $21.91. The firm has a market capitalization of $1.34 billion, a PE ratio of -2.41 and a beta of 1.81.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) earnings per share for the quarter, beating the consensus estimate of ($1.37) by $0.03. The company had revenue of $9.10 million during the quarter, compared to analyst estimates of $8.28 million. During the same quarter in the prior year, the company posted ($1.38) EPS. The firm’s quarterly revenue was down 24.1% compared to the same quarter last year. Research analysts anticipate that Intellia Therapeutics will post -5.13 EPS for the current year.

Insider Buying and Selling at Intellia Therapeutics

In other news, CAO Michael P. Dube sold 2,012 shares of Intellia Therapeutics stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total transaction of $38,248.12. Following the sale, the chief accounting officer now owns 47,012 shares of the company’s stock, valued at approximately $893,698.12. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Intellia Therapeutics

Institutional investors have recently bought and sold shares of the business. Blue Trust Inc. boosted its position in shares of Intellia Therapeutics by 1,664.3% during the 2nd quarter. Blue Trust Inc. now owns 1,482 shares of the company’s stock valued at $33,000 after acquiring an additional 1,398 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Intellia Therapeutics by 763.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock worth $39,000 after buying an additional 1,550 shares in the last quarter. Eastern Bank bought a new position in shares of Intellia Therapeutics during the 3rd quarter worth approximately $41,000. Values First Advisors Inc. acquired a new stake in Intellia Therapeutics in the 3rd quarter valued at $54,000. Finally, First Horizon Advisors Inc. grew its position in Intellia Therapeutics by 22.1% in the second quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company’s stock valued at $58,000 after acquiring an additional 472 shares during the period. 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.