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

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

NTLA has been the topic of several other research reports. Barclays reduced their price target on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $90.00 target price on shares of Intellia Therapeutics in a report on Tuesday, November 19th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $13.00 price target (down previously from $45.00) on shares of Intellia Therapeutics in a report on Friday. William Blair restated a “neutral” rating and set a $14.00 price objective on shares of Intellia Therapeutics in a research report on Monday, November 18th. Finally, Oppenheimer dropped their target price on shares of Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Two investment 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. Based on data from MarketBeat, Intellia Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.12.

Intellia Therapeutics Stock Down 7.1 %

NTLA stock opened at $10.09 on Friday. The company has a market cap of $1.03 billion, a PE ratio of -1.85 and a beta of 1.80. Intellia Therapeutics has a 52 week low of $8.96 and a 52 week high of $34.87. The business has a 50-day simple moving average of $10.90 and a 200 day simple moving average of $15.72.

Insider Buying and Selling

In related news, CEO John M. Leonard sold 26,807 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $12.18, for a total transaction of $326,509.26. Following the completion of the transaction, the chief executive officer now directly owns 941,115 shares of the company’s stock, valued at $11,462,780.70. This trade represents a 2.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 29,000 shares of company stock valued at $352,551 over the last 90 days. 3.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Intellia Therapeutics

Hedge funds have recently made changes to their positions in the stock. ARK Investment Management LLC boosted its holdings in Intellia Therapeutics by 2.3% in the fourth quarter. ARK Investment Management LLC now owns 12,536,386 shares of the company’s stock valued at $146,174,000 after acquiring an additional 280,946 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Intellia Therapeutics by 5.8% in the 4th quarter. Vanguard Group Inc. now owns 10,190,053 shares of the company’s stock worth $118,816,000 after purchasing an additional 562,249 shares during the period. State Street Corp boosted its stake in shares of Intellia Therapeutics by 17.9% in the 3rd quarter. State Street Corp now owns 5,143,534 shares of the company’s stock valued at $105,700,000 after purchasing an additional 780,754 shares during the last quarter. Regeneron Pharmaceuticals Inc. acquired a new stake in shares of Intellia Therapeutics during the fourth quarter worth $43,177,000. Finally, Geode Capital Management LLC raised its stake in Intellia Therapeutics by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 2,389,240 shares of the company’s stock worth $27,865,000 after buying an additional 45,930 shares during 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.