Oppenheimer Has Lowered Expectations for Intellia Therapeutics (NASDAQ:NTLA) Stock Price

Intellia Therapeutics (NASDAQ:NTLA) had its target price cut by Oppenheimer from $70.00 to $60.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other analysts also recently issued reports about the company. Royal Bank of Canada reiterated an “outperform” rating and set a $54.00 price target on shares of Intellia Therapeutics in a report on Thursday, September 19th. JPMorgan Chase & Co. cut their target price on Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. StockNews.com raised shares of Intellia Therapeutics to a “sell” rating in a report on Friday, November 8th. Chardan Capital decreased their target price on Intellia Therapeutics from $94.00 to $88.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, Robert W. Baird lowered their price target on shares of Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.36.

Intellia Therapeutics Price Performance

NASDAQ NTLA opened at $14.77 on Monday. The business’s fifty day moving average is $18.87 and its 200 day moving average is $22.14. Intellia Therapeutics has a twelve month low of $13.95 and a twelve month high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last announced its earnings results on Thursday, November 7th. The company reported ($1.34) 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 analyst estimates of $8.28 million. The firm’s quarterly revenue was down 24.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.38) earnings per share. Equities research analysts forecast that Intellia Therapeutics will post -5.13 EPS for the current year.

Insider Buying and Selling

In related news, CAO Michael P. Dube sold 2,012 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total transaction of $38,248.12. Following the sale, the chief accounting officer now directly owns 47,012 shares of the company’s stock, valued at $893,698.12. This trade represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in shares of Intellia Therapeutics by 1,664.3% in the 2nd quarter. Blue Trust Inc. now owns 1,482 shares of the company’s stock worth $33,000 after buying an additional 1,398 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Intellia Therapeutics by 763.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock worth $39,000 after purchasing an additional 1,550 shares during the period. Eastern Bank bought a new position in shares of Intellia Therapeutics in the 3rd quarter worth approximately $41,000. Values First Advisors Inc. purchased a new position in shares of Intellia Therapeutics in the third quarter worth approximately $54,000. Finally, First Horizon Advisors Inc. grew its position in Intellia Therapeutics by 22.1% during the second quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company’s stock valued at $58,000 after buying an additional 472 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.