Intellia Therapeutics (NASDAQ:NTLA) Price Target Cut to $60.00 by Analysts at Wells Fargo & Company

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

Other equities analysts have also recently issued reports about the stock. Oppenheimer lowered their price objective on shares of Intellia Therapeutics from $70.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Robert W. Baird lowered their price target on shares of Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Citigroup cut their price objective on Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $54.00 target price on shares of Intellia Therapeutics in a report on Thursday, September 19th. Finally, StockNews.com raised Intellia Therapeutics to a “sell” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.06.

Intellia Therapeutics Stock Performance

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

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

Insider Activity at Intellia Therapeutics

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $11,462,780.70. This represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 28,735 shares of company stock worth $349,909 in the last quarter. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

A number of institutional investors have recently modified their holdings of the company. Rhumbline Advisers raised its holdings in Intellia Therapeutics by 5.3% during the second quarter. Rhumbline Advisers now owns 175,335 shares of the company’s stock worth $3,924,000 after buying an additional 8,797 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Intellia Therapeutics by 9.7% in the 2nd quarter. Arizona State Retirement System now owns 25,648 shares of the company’s stock worth $574,000 after acquiring an additional 2,267 shares during the last quarter. American Century Companies Inc. lifted its position in Intellia Therapeutics by 23.8% in the 2nd quarter. American Century Companies Inc. now owns 330,514 shares of the company’s stock valued at $7,397,000 after acquiring an additional 63,550 shares in the last quarter. Federated Hermes Inc. boosted its stake in Intellia Therapeutics by 19.2% during the 2nd quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock valued at $51,494,000 after purchasing an additional 371,189 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in 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 purchasing an additional 98,865 shares in the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

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.