Wells Fargo & Company Lowers Intellia Therapeutics (NASDAQ:NTLA) Price Target to $12.00

Intellia Therapeutics (NASDAQ:NTLA) had its target price dropped by equities research analysts at Wells Fargo & Company from $17.00 to $12.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 26.05% from the company’s previous close.

A number of other equities analysts also recently weighed in on NTLA. Tudor Pickering set a $14.50 target price on Intellia Therapeutics in a research note on Tuesday, October 28th. JMP Securities dropped their price target on Intellia Therapeutics from $33.00 to $29.00 and set a “market outperform” rating on the stock in a report on Tuesday, October 28th. Sanford C. Bernstein set a $14.50 price objective on Intellia Therapeutics in a research note on Tuesday, October 28th. Citigroup reaffirmed a “market outperform” rating on shares of Intellia Therapeutics in a research report on Tuesday, October 28th. Finally, Citizens Jmp cut their price target on shares of Intellia Therapeutics from $29.00 to $21.00 and set a “market outperform” rating on the stock in a report on Friday. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.39.

Intellia Therapeutics Price Performance

NTLA opened at $9.52 on Friday. Intellia Therapeutics has a 1 year low of $5.90 and a 1 year high of $28.25. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -2.23 and a beta of 2.44. The firm’s fifty day moving average price is $17.19 and its two-hundred day moving average price is $12.50.

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

Insider Activity

In related news, Director William J. Chase acquired 100,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director owned 134,693 shares in the company, valued at approximately $1,350,970.79. This trade represents a 288.24% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Michael P. Dube sold 1,871 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $17.38, for a total transaction of $32,517.98. Following the completion of the sale, the chief accounting officer directly owned 55,266 shares in the company, valued at $960,523.08. This represents a 3.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Marex Group plc purchased a new stake in Intellia Therapeutics during the second quarter valued at about $5,849,000. Vanguard Group Inc. increased its position in shares of Intellia Therapeutics by 5.5% during the 1st 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 last quarter. ARK Investment Management LLC raised its holdings in shares of Intellia Therapeutics by 3.8% during the 1st quarter. ARK Investment Management LLC now owns 13,011,015 shares of the company’s stock valued at $92,508,000 after buying an additional 474,629 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Intellia Therapeutics by 73.0% in the 2nd 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 lifted its position in Intellia Therapeutics by 1,593.4% in 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 last quarter. Institutional investors own 88.77% of the company’s stock.

Intellia Therapeutics Company Profile

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.