The Goldman Sachs Group Cuts Intellia Therapeutics (NASDAQ:NTLA) Price Target to $12.00

Intellia Therapeutics (NASDAQ:NTLA) had its target price trimmed by The Goldman Sachs Group from $19.00 to $12.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other analysts have also recently issued reports on NTLA. Chardan Capital increased their target price on Intellia Therapeutics from $88.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Wedbush restated a “neutral” rating and set a $10.00 price objective (down from $14.00) on shares of Intellia Therapeutics in a report on Friday, January 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $54.00 price objective on shares of Intellia Therapeutics in a research report on Thursday, September 19th. Canaccord Genuity Group reissued a “buy” rating and issued a $90.00 price target on shares of Intellia Therapeutics in a research note on Tuesday, November 19th. Finally, Citigroup cut 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. One research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $51.06.

Intellia Therapeutics Stock Down 3.0 %

Shares of NASDAQ NTLA opened at $9.42 on Tuesday. Intellia Therapeutics has a twelve month low of $9.25 and a twelve month high of $34.87. The stock has a market cap of $959.42 million, a price-to-earnings ratio of -1.73 and a beta of 1.83. The company’s fifty day moving average is $13.30 and its 200-day moving average is $18.62.

Intellia Therapeutics (NASDAQ:NTLA) last posted its earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share for the quarter, topping the consensus estimate of ($1.37) by $0.03. The business had revenue of $9.10 million for the quarter, compared to the consensus estimate of $8.28 million. During the same quarter in the prior year, the firm posted ($1.38) earnings per share. The business’s revenue was down 24.1% on a year-over-year basis. On average, research analysts anticipate that Intellia Therapeutics will post -5.11 EPS for the current fiscal year.

Insider Activity

In related news, CEO John M. Leonard sold 26,807 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $12.18, for a total value of $326,509.26. Following the completion of the sale, the chief executive officer now directly owns 941,115 shares in the company, valued at approximately $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 accessible through the SEC website. Insiders sold a total of 28,735 shares of company stock valued at $349,909 in the last quarter. Company insiders own 3.20% of the company’s stock.

Institutional Trading of Intellia Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Rhumbline Advisers increased its holdings in shares of Intellia Therapeutics by 5.3% during the 2nd quarter. Rhumbline Advisers now owns 175,335 shares of the company’s stock worth $3,924,000 after acquiring an additional 8,797 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Intellia Therapeutics by 9.7% in the second quarter. Arizona State Retirement System now owns 25,648 shares of the company’s stock valued at $574,000 after purchasing an additional 2,267 shares during the last quarter. American Century Companies Inc. raised its position in shares of Intellia Therapeutics by 23.8% in the second quarter. American Century Companies Inc. now owns 330,514 shares of the company’s stock valued at $7,397,000 after purchasing an additional 63,550 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Intellia Therapeutics by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,324,561 shares of the company’s stock worth $29,648,000 after buying an additional 98,865 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Intellia Therapeutics during the 2nd quarter worth about $866,000. 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.