Intellia Therapeutics (NASDAQ:NTLA) Price Target Lowered to $50.00 at Truist Financial

Intellia Therapeutics (NASDAQ:NTLA) had its price objective lowered by Truist Financial from $90.00 to $50.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 459.60% from the stock’s previous close.

A number of other brokerages also recently issued reports on NTLA. Barclays reduced their price target on Intellia Therapeutics from $55.00 to $26.00 and set an “overweight” rating on the stock in a research report on Friday. William Blair reaffirmed a “neutral” rating and issued a $14.00 price target on shares of Intellia Therapeutics in a research note on Monday, November 18th. Wedbush reiterated a “neutral” rating and set a $10.00 price objective (down from $14.00) on shares of Intellia Therapeutics in a research note on Friday, January 10th. BMO Capital Markets reduced their price objective on Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $90.00 price target on shares of Intellia Therapeutics in a report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Intellia Therapeutics Stock Down 5.4 %

Shares of Intellia Therapeutics stock traded down $0.52 during trading on Tuesday, reaching $8.94. The company’s stock had a trading volume of 2,937,642 shares, compared to its average volume of 3,278,839. Intellia Therapeutics has a 52 week low of $8.30 and a 52 week high of $32.42. The firm has a market cap of $924.92 million, a PE ratio of -1.64 and a beta of 1.97. The business’s 50-day moving average price is $10.80 and its 200-day moving average price is $15.46.

Insider Buying and Selling at Intellia Therapeutics

In related news, CEO John M. Leonard sold 26,807 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were 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 approximately $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 can be accessed through this link. Over the last 90 days, insiders sold 29,000 shares of company stock valued at $352,551. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intellia Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NTLA. Mirae Asset Global Investments Co. Ltd. grew its stake in Intellia Therapeutics by 27.6% in 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 in the last quarter. Harbor Capital Advisors Inc. lifted its position in Intellia Therapeutics by 71.0% during the third quarter. Harbor Capital Advisors Inc. now owns 79,205 shares of the company’s stock valued at $1,628,000 after acquiring an additional 32,893 shares during the last quarter. ARK Investment Management LLC grew its holdings in Intellia Therapeutics by 5.7% in the third quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock worth $251,849,000 after purchasing an additional 659,651 shares during the last quarter. Lewis Asset Management LLC increased its position in shares of Intellia Therapeutics by 42.5% during the third quarter. Lewis Asset Management LLC now owns 66,308 shares of the company’s stock worth $1,363,000 after purchasing an additional 19,775 shares in the last quarter. Finally, Atria Investments Inc lifted its holdings in shares of 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 purchasing an additional 4,511 shares during the last quarter. 88.77% of the stock is owned by institutional investors.

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.