Guggenheim Cuts Intellia Therapeutics (NASDAQ:NTLA) Price Target to $45.00

Intellia Therapeutics (NASDAQ:NTLA) had its price objective cut by Guggenheim from $55.00 to $45.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

NTLA has been the topic of a number of other reports. Truist Financial cut their target price on shares of Intellia Therapeutics from $90.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Barclays cut their target price on shares of Intellia Therapeutics from $55.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Oppenheimer cut their target price on shares of Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Citigroup dropped their price objective on shares of Intellia Therapeutics from $14.00 to $10.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Finally, Chardan Capital reissued a “buy” rating and issued a $68.00 price objective on shares of Intellia Therapeutics in a research note on Friday, May 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.90.

Intellia Therapeutics Price Performance

Shares of Intellia Therapeutics stock opened at $7.88 on Monday. The firm’s fifty day simple moving average is $8.08 and its 200-day simple moving average is $10.90. The stock has a market capitalization of $816.23 million, a price-to-earnings ratio of -1.45 and a beta of 2.33. Intellia Therapeutics has a 12 month low of $5.90 and a 12 month high of $28.18.

Intellia Therapeutics (NASDAQ:NTLA) last announced its earnings results on Thursday, May 8th. The company reported ($1.10) EPS for the quarter, beating analysts’ consensus estimates of ($1.26) by $0.16. The business had revenue of $16.63 million during the quarter, compared to analyst estimates of $11.39 million. The business’s revenue was down 42.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.12) earnings per share. Analysts anticipate that Intellia Therapeutics will post -5.07 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NTLA. Regeneron Pharmaceuticals Inc. purchased a new position in Intellia Therapeutics in the fourth quarter valued at approximately $43,177,000. Voloridge Investment Management LLC raised its holdings in Intellia Therapeutics by 226.8% in the fourth quarter. Voloridge Investment Management LLC now owns 1,526,994 shares of the company’s stock valued at $17,805,000 after buying an additional 1,059,751 shares during the period. Contrarius Group Holdings Ltd purchased a new position in Intellia Therapeutics in the fourth quarter valued at approximately $11,798,000. Two Sigma Advisers LP raised its holdings in Intellia Therapeutics by 94.5% in the fourth quarter. Two Sigma Advisers LP now owns 1,998,317 shares of the company’s stock valued at $23,300,000 after buying an additional 970,700 shares during the period. Finally, Two Sigma Investments LP raised its holdings in Intellia Therapeutics by 88.1% in the fourth quarter. Two Sigma Investments LP now owns 1,843,743 shares of the company’s stock valued at $21,498,000 after buying an additional 863,363 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.