Robert W. Baird Trims Intellia Therapeutics (NASDAQ:NTLA) Target Price to $18.00

Intellia Therapeutics (NASDAQ:NTLA) had its target price dropped by Robert W. Baird from $24.00 to $18.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 13.56% from the stock’s previous close.

A number of other research analysts also recently issued reports on NTLA. StockNews.com raised Intellia Therapeutics to a “sell” rating in a research note on Thursday, June 27th. Canaccord Genuity Group reissued a “buy” rating and issued a $73.00 price target on shares of Intellia Therapeutics in a research note on Thursday, June 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $54.00 price objective on shares of Intellia Therapeutics in a research report on Thursday, September 19th. JPMorgan Chase & Co. dropped their target price on shares of Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Finally, Chardan Capital cut their target price on shares of Intellia Therapeutics from $94.00 to $88.00 and set a “buy” rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Intellia Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $60.60.

Intellia Therapeutics Stock Performance

Intellia Therapeutics stock opened at $15.85 on Friday. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of -2.89 and a beta of 1.76. Intellia Therapeutics has a 52-week low of $15.35 and a 52-week high of $34.87. The firm has a 50 day moving average price of $20.84 and a two-hundred day moving average price of $22.82.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($1.52) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($0.29). The firm had revenue of $7.00 million for the quarter, compared to the consensus estimate of $19.68 million. The firm’s revenue for the quarter was down 48.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.40) EPS. As a group, equities research analysts predict that Intellia Therapeutics will post -5.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Michael P. Dube sold 2,012 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total value of $38,248.12. Following the transaction, the chief accounting officer now owns 47,012 shares in the company, valued at $893,698.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of Intellia Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Intellia Therapeutics by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock worth $250,168,000 after purchasing an additional 746,263 shares in the last quarter. ARK Investment Management LLC grew its holdings in shares of Intellia Therapeutics by 5.5% in the second quarter. ARK Investment Management LLC now owns 11,595,789 shares of the company’s stock valued at $259,514,000 after acquiring an additional 606,507 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Intellia Therapeutics by 19.2% during the second quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock valued at $51,494,000 after acquiring an additional 371,189 shares during the last quarter. Opaleye Management Inc. lifted its holdings in Intellia Therapeutics by 157.6% during the first quarter. Opaleye Management Inc. now owns 255,000 shares of the company’s stock worth $7,015,000 after acquiring an additional 156,000 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Intellia Therapeutics by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,324,561 shares of the company’s stock worth $29,648,000 after purchasing an additional 98,865 shares during the last quarter. Hedge funds and other 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.