Intellia Therapeutics (NASDAQ:NTLA) Price Target Lowered to $40.00 at Oppenheimer

Intellia Therapeutics (NASDAQ:NTLA) had its price objective decreased by analysts at Oppenheimer from $60.00 to $40.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target would suggest a potential upside of 304.86% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $54.00 target price on shares of Intellia Therapeutics in a research report on Thursday, September 19th. Chardan Capital raised their price objective on shares of Intellia Therapeutics from $88.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, November 18th. The Goldman Sachs Group decreased their target price on shares of Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. BMO Capital Markets dropped their target price on Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Citigroup decreased their price target on Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.56.

Intellia Therapeutics Stock Down 3.1 %

NTLA traded down $0.32 during trading on Monday, hitting $9.88. The company’s stock had a trading volume of 892,111 shares, compared to its average volume of 2,912,587. The firm has a market capitalization of $1.01 billion, a P/E ratio of -1.82 and a beta of 1.83. Intellia Therapeutics has a twelve month low of $9.75 and a twelve month high of $34.87. The stock’s fifty day moving average price is $13.77 and its 200-day moving average price is $18.93.

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

Insider Buying and Selling at Intellia Therapeutics

In other news, CEO John M. Leonard sold 26,807 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $12.18, for a total value of $326,509.26. Following the sale, the chief executive officer now owns 941,115 shares of the company’s stock, valued at $11,462,780.70. The trade was a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 28,735 shares of company stock worth $349,909 over the last ninety days. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intellia Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. ARK Investment Management LLC raised its stake in shares of Intellia Therapeutics by 5.7% during the 3rd quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock valued at $251,849,000 after purchasing an additional 659,651 shares during the period. State Street Corp increased 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 valued at $105,700,000 after buying an additional 780,754 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Intellia Therapeutics by 2.2% in the third quarter. Geode Capital Management LLC now owns 2,343,310 shares of the company’s stock worth $48,164,000 after buying an additional 49,367 shares in the last quarter. FMR LLC boosted its position in shares of Intellia Therapeutics by 5.0% in the third quarter. FMR LLC now owns 2,339,522 shares of the company’s stock valued at $48,077,000 after acquiring an additional 111,104 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position 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 acquiring an additional 98,865 shares during the period. Institutional investors own 88.77% of the company’s stock.

About Intellia Therapeutics

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.