Wells Fargo & Company Lowers Intellia Therapeutics (NASDAQ:NTLA) Price Target to $60.00

Intellia Therapeutics (NASDAQ:NTLA) had its price objective decreased by investment analysts at Wells Fargo & Company from $70.00 to $60.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 415.02% from the company’s previous close.

Several other analysts have also commented on NTLA. The Goldman Sachs Group lowered their price objective on shares of Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Oppenheimer reduced their price objective on Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Robert W. Baird lowered their target price on Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $54.00 price objective on shares of Intellia Therapeutics in a report on Thursday, September 19th. Finally, Wedbush reaffirmed a “neutral” rating and set a $14.00 price objective on shares of Intellia Therapeutics in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.06.

Intellia Therapeutics Stock Down 3.1 %

Intellia Therapeutics stock opened at $11.65 on Friday. The stock has a market cap of $1.19 billion, a P/E ratio of -2.14 and a beta of 1.83. The company’s 50 day moving average price is $13.87 and its two-hundred day moving average price is $19.10. Intellia Therapeutics has a 52 week low of $11.34 and a 52 week high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.03. The business had revenue of $9.10 million during the quarter, compared to the consensus estimate of $8.28 million. The firm’s revenue for the quarter was down 24.1% compared to the same quarter last year. During the same quarter last year, the company earned ($1.38) EPS. On average, equities analysts anticipate that Intellia Therapeutics will post -5.12 EPS for the current year.

Insider Buying and Selling at Intellia Therapeutics

In related news, CEO John M. Leonard sold 26,807 shares of the 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 transaction, the chief executive officer now owns 941,115 shares of the company’s stock, valued at $11,462,780.70. This represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 28,735 shares of company stock valued at $349,909 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of NTLA. EverSource Wealth Advisors LLC lifted its stake in Intellia Therapeutics by 763.5% in the second 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 last quarter. Eastern Bank bought a new stake in shares of Intellia Therapeutics in the 3rd quarter valued at about $41,000. Values First Advisors Inc. purchased a new stake in Intellia Therapeutics during the 3rd quarter valued at about $54,000. Mirae Asset Global Investments Co. Ltd. grew its position in Intellia Therapeutics by 27.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock worth $77,000 after acquiring an additional 794 shares during the last quarter. Finally, KBC Group NV lifted its position in Intellia Therapeutics by 37.3% in the third quarter. KBC Group NV now owns 3,753 shares of the company’s stock valued at $77,000 after purchasing an additional 1,020 shares during the last quarter. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

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.