Intellia Therapeutics (NASDAQ:NTLA) Price Target Lowered to $50.00 at BMO Capital Markets

Intellia Therapeutics (NASDAQ:NTLA) had its price target dropped by research analysts at BMO Capital Markets from $70.00 to $50.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 390.20% from the company’s previous close.

Several other equities research analysts have also commented on NTLA. Robert W. Baird cut their price objective on Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Wedbush reiterated a “neutral” rating and set a $14.00 price target on shares of Intellia Therapeutics in a research report on Monday, November 18th. StockNews.com upgraded Intellia Therapeutics to a “sell” rating in a report on Friday, November 8th. Citigroup dropped their target price on shares of Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Finally, Oppenheimer lowered their price target on shares of Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating on the stock 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 issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.81.

Intellia Therapeutics Price Performance

Shares of NASDAQ:NTLA opened at $10.20 on Friday. The business’s 50 day moving average price is $13.77 and its 200-day moving average price is $18.96. Intellia Therapeutics has a 1 year low of $9.93 and a 1 year high of $34.87. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -1.87 and a beta of 1.83.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.37) by $0.03. The company had revenue of $9.10 million for the quarter, compared to analysts’ expectations of $8.28 million. During the same period in the previous year, the business earned ($1.38) earnings per share. The business’s revenue for the quarter was down 24.1% on a year-over-year basis. On average, sell-side analysts expect that Intellia Therapeutics will post -5.12 earnings per share for the current 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 that occurred on 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 transaction, the chief executive officer now owns 941,115 shares of the company’s stock, valued at approximately $11,462,780.70. This trade represents a 2.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 28,735 shares of company stock worth $349,909 over the last three months. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Intellia Therapeutics by 17.9% during the third quarter. State Street Corp now owns 5,143,534 shares of the company’s stock worth $105,700,000 after purchasing an additional 780,754 shares in the last quarter. ARK Investment Management LLC lifted its holdings in Intellia Therapeutics by 5.7% during the 3rd quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock worth $251,849,000 after buying an additional 659,651 shares in the last quarter. Federated Hermes Inc. boosted its position in Intellia Therapeutics by 19.2% in the 2nd quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock valued at $51,494,000 after buying an additional 371,189 shares during the period. Two Sigma Advisers LP grew its stake in shares of Intellia Therapeutics by 33.5% in the third quarter. Two Sigma Advisers LP now owns 1,027,617 shares of the company’s stock worth $21,118,000 after acquiring an additional 257,700 shares in the last quarter. Finally, Sphera Funds Management LTD. increased its position in shares of Intellia Therapeutics by 108.8% during the third quarter. Sphera Funds Management LTD. now owns 291,080 shares of the company’s stock worth $5,982,000 after acquiring an additional 151,661 shares during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.