Intellia Therapeutics (NASDAQ:NTLA) Price Target Cut to $12.00 by Analysts at Wells Fargo & Company

Intellia Therapeutics (NASDAQ:NTLA) had its price objective cut by Wells Fargo & Company from $17.00 to $12.00 in a research report report published on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research firms have also recently issued reports on NTLA. HC Wainwright set a $18.00 target price on shares of Intellia Therapeutics in a research note on Thursday, October 30th. Barclays dropped their price target on Intellia Therapeutics from $24.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday. Wall Street Zen upgraded Intellia Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Intellia Therapeutics in a research report on Wednesday, October 8th. Finally, Oppenheimer set a $27.00 price target on shares of Intellia Therapeutics in a research report on Friday. Twelve research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $20.39.

Intellia Therapeutics Stock Performance

Shares of NTLA traded down $2.80 during trading hours on Friday, hitting $9.52. The company had a trading volume of 25,372,622 shares, compared to its average volume of 10,223,058. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -2.23 and a beta of 2.44. Intellia Therapeutics has a 52-week low of $5.90 and a 52-week high of $28.25. The firm has a fifty day moving average price of $17.19 and a 200-day moving average price of $12.47.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.92) EPS for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.10. Intellia Therapeutics had a negative net margin of 774.94% and a negative return on equity of 56.28%. The firm had revenue of $13.78 million for the quarter, compared to analysts’ expectations of $14.12 million. During the same quarter in the prior year, the company posted ($1.34) earnings per share. The business’s revenue for the quarter was up 51.6% on a year-over-year basis. Research analysts anticipate that Intellia Therapeutics will post -5.07 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Michael P. Dube sold 1,871 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $17.38, for a total transaction of $32,517.98. Following the completion of the transaction, the chief accounting officer owned 55,266 shares in the company, valued at $960,523.08. This trade represents a 3.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William J. Chase bought 100,000 shares of Intellia Therapeutics stock in a transaction dated Wednesday, August 20th. The stock was purchased at an average cost of $10.03 per share, for a total transaction of $1,003,000.00. Following the completion of the acquisition, the director directly owned 134,693 shares of the company’s stock, valued at approximately $1,350,970.79. The trade was a 288.24% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Intellia Therapeutics

Several large investors have recently bought and sold shares of NTLA. CWM LLC raised its position in shares of Intellia Therapeutics by 4.7% during the 3rd quarter. CWM LLC now owns 19,187 shares of the company’s stock valued at $331,000 after buying an additional 856 shares in the last quarter. Federated Hermes Inc. increased its stake in Intellia Therapeutics by 39.7% during the third quarter. Federated Hermes Inc. now owns 3,263 shares of the company’s stock worth $56,000 after acquiring an additional 927 shares during the last quarter. Cyndeo Wealth Partners LLC raised its position in Intellia Therapeutics by 9.3% during the third quarter. Cyndeo Wealth Partners LLC now owns 11,710 shares of the company’s stock valued at $202,000 after purchasing an additional 995 shares during the period. Benjamin Edwards Inc. lifted its stake in shares of Intellia Therapeutics by 1.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 63,034 shares of the company’s stock valued at $591,000 after purchasing an additional 1,126 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in shares of Intellia Therapeutics by 8.2% during the 1st quarter. HighTower Advisors LLC now owns 16,921 shares of the company’s stock valued at $120,000 after purchasing an additional 1,282 shares during the last quarter. 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.