Intellia Therapeutics (NASDAQ:NTLA) Given New $50.00 Price Target at Truist Financial

Intellia Therapeutics (NASDAQ:NTLA) had its price objective dropped by equities researchers at Truist Financial from $90.00 to $50.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 459.60% from the stock’s current price.

A number of other research firms have also recently commented on NTLA. Barclays decreased their target price on shares of Intellia Therapeutics from $55.00 to $26.00 and set an “overweight” rating on the stock in a research report on Friday. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $9.00 target price on shares of Intellia Therapeutics in a report on Friday. StockNews.com upgraded shares of Intellia Therapeutics to a “sell” rating in a research note on Monday. Oppenheimer reduced their target price on Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Finally, Wells Fargo & Company dropped their price objective on Intellia Therapeutics from $60.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Intellia Therapeutics Trading Down 5.4 %

NTLA traded down $0.52 on Tuesday, reaching $8.94. The stock had a trading volume of 2,937,642 shares, compared to its average volume of 3,278,839. The company has a market cap of $924.92 million, a P/E ratio of -1.64 and a beta of 1.97. Intellia Therapeutics has a 12-month low of $8.30 and a 12-month high of $32.42. The business’s 50-day moving average price is $10.80 and its two-hundred day moving average price is $15.46.

Insider Buying and Selling

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was 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 of the company’s stock, valued at $11,462,780.70. This trade represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders sold 29,000 shares of company stock worth $352,551. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Intellia Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Intellia Therapeutics by 27.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock valued at $77,000 after purchasing an additional 794 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Intellia Therapeutics by 71.0% in the third quarter. Harbor Capital Advisors Inc. now owns 79,205 shares of the company’s stock valued at $1,628,000 after purchasing an additional 32,893 shares during the period. ARK Investment Management LLC boosted its holdings in Intellia Therapeutics by 5.7% in the 3rd quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock worth $251,849,000 after buying an additional 659,651 shares during the period. Lewis Asset Management LLC grew its stake in Intellia Therapeutics by 42.5% in the 3rd quarter. Lewis Asset Management LLC now owns 66,308 shares of the company’s stock valued at $1,363,000 after buying an additional 19,775 shares in the last quarter. Finally, Atria Investments Inc raised its holdings in Intellia Therapeutics by 24.3% during the 3rd quarter. Atria Investments Inc now owns 23,099 shares of the company’s stock valued at $475,000 after acquiring an additional 4,511 shares during the period. Hedge funds and other 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.