Intellia Therapeutics (NASDAQ:NTLA) Price Target Lowered to $50.00 at Wells Fargo & Company

Intellia Therapeutics (NASDAQ:NTLA) had its target price lowered by Wells Fargo & Company from $60.00 to $50.00 in a research note released on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

NTLA has been the topic of a number of other reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $90.00 price target on shares of Intellia Therapeutics in a research note on Tuesday, November 19th. Morgan Stanley cut Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $56.00 to $11.00 in a report on Monday, January 27th. Barclays reduced their price target on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Oppenheimer decreased their target price on shares of Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Finally, StockNews.com raised shares of Intellia Therapeutics to a “sell” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $42.12.

Intellia Therapeutics Stock Down 7.1 %

Intellia Therapeutics stock opened at $10.09 on Friday. The company has a market capitalization of $1.03 billion, a PE ratio of -1.85 and a beta of 1.80. The firm’s fifty day moving average is $10.90 and its 200 day moving average is $15.72. Intellia Therapeutics has a 12-month low of $8.96 and a 12-month high of $34.87.

Insider Activity

In related news, CEO John M. Leonard sold 26,807 shares of Intellia Therapeutics 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 sale, the chief executive officer now owns 941,115 shares of the company’s stock, valued at approximately $11,462,780.70. The trade was a 2.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 29,000 shares of company stock valued at $352,551 in the last three months. Company insiders own 3.20% of the company’s stock.

Institutional Trading of Intellia Therapeutics

Hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised 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 valued at $77,000 after acquiring an additional 794 shares during the period. SteelPeak Wealth LLC bought a new position in Intellia Therapeutics during the third quarter worth about $393,000. 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 raised its position in shares of Intellia Therapeutics by 5.7% in the third quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock valued at $251,849,000 after purchasing an additional 659,651 shares during the period. Finally, Lewis Asset Management LLC lifted its stake in shares of Intellia Therapeutics by 42.5% during 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. 88.77% of the stock is currently 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.