Intellia Therapeutics (NASDAQ:NTLA) Price Target Lowered to $21.00 at Citizens Jmp

Intellia Therapeutics (NASDAQ:NTLA) had its price objective reduced by Citizens Jmp from $29.00 to $21.00 in a research note issued to investors on Friday,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

A number of other equities research analysts have also commented on the company. Chardan Capital decreased their price objective on Intellia Therapeutics from $60.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, October 27th. JPMorgan Chase & Co. restated an “underweight” rating and set a $5.00 price target (down from $12.00) on shares of Intellia Therapeutics in a report on Friday. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $14.00 price objective (down previously from $21.00) on shares of Intellia Therapeutics in a research note on Tuesday, October 28th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $17.00 target price (down previously from $45.00) on shares of Intellia Therapeutics in a research report on Tuesday, October 28th. Finally, William Blair cut shares of Intellia Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, October 27th. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.39.

Intellia Therapeutics Price Performance

Intellia Therapeutics stock traded down $2.80 during midday trading on Friday, reaching $9.52. The stock had a trading volume of 25,372,622 shares, compared to its average volume of 10,223,058. Intellia Therapeutics has a twelve month low of $5.90 and a twelve month high of $28.25. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -2.23 and a beta of 2.44. The firm’s fifty day simple moving average is $17.19 and its two-hundred day simple moving average is $12.47.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Thursday, November 6th. The company reported ($0.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.10. Intellia Therapeutics had a negative return on equity of 56.28% and a negative net margin of 774.94%.The company had revenue of $13.78 million during the quarter, compared to analyst estimates of $14.12 million. During the same quarter in the prior year, the company earned ($1.34) earnings per share. The company’s revenue for the quarter was up 51.6% on a year-over-year basis. As a group, sell-side analysts predict that Intellia Therapeutics will post -5.07 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director William J. Chase bought 100,000 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were bought at an average cost of $10.03 per share, for a total transaction of $1,003,000.00. Following the completion of the acquisition, the director directly owned 134,693 shares in the company, valued at approximately $1,350,970.79. This represents a 288.24% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Michael P. Dube sold 1,871 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $17.38, for a total value of $32,517.98. Following the sale, the chief accounting officer owned 55,266 shares of the company’s stock, valued at approximately $960,523.08. This trade represents a 3.27% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Marex Group plc bought a new stake in Intellia Therapeutics during the second quarter worth approximately $5,849,000. Vanguard Group Inc. raised its position in shares of Intellia Therapeutics by 5.5% in the first quarter. Vanguard Group Inc. now owns 10,752,031 shares of the company’s stock valued at $76,447,000 after purchasing an additional 561,978 shares during the period. ARK Investment Management LLC lifted its stake in shares of Intellia Therapeutics by 3.8% in the first quarter. ARK Investment Management LLC now owns 13,011,015 shares of the company’s stock worth $92,508,000 after buying an additional 474,629 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Intellia Therapeutics by 73.0% in the second quarter. JPMorgan Chase & Co. now owns 940,483 shares of the company’s stock worth $8,822,000 after buying an additional 396,858 shares during the last quarter. Finally, Schroder Investment Management Group boosted its holdings in shares of Intellia Therapeutics by 1,593.4% during the 2nd quarter. Schroder Investment Management Group now owns 406,425 shares of the company’s stock worth $3,812,000 after buying an additional 382,425 shares during the period. 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.