Intellia Therapeutics (NASDAQ:NTLA) Price Target Lowered to $15.00 at HC Wainwright

Intellia Therapeutics (NASDAQ:NTLA) had its target price reduced by stock analysts at HC Wainwright from $18.00 to $15.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 57.56% from the stock’s previous close.

NTLA has been the subject of several other reports. Chardan Capital decreased their price objective on shares of Intellia Therapeutics from $48.00 to $26.00 and set a “buy” rating for the company in a report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intellia Therapeutics in a research report on Wednesday, October 8th. Wells Fargo & Company lowered their price objective on Intellia Therapeutics from $17.00 to $12.00 and set an “equal weight” rating for the company in a report on Friday. Tudor Pickering set a $14.50 price objective on Intellia Therapeutics in a research note on Tuesday, October 28th. Finally, Wall Street Zen downgraded Intellia Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Twelve investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Intellia Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $20.26.

Intellia Therapeutics Stock Down 22.7%

Shares of NTLA opened at $9.52 on Monday. The business’s 50 day moving average is $17.19 and its two-hundred day moving average is $12.53. Intellia Therapeutics has a 52-week low of $5.90 and a 52-week 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 2.45.

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, topping analysts’ consensus estimates of ($1.02) by $0.10. The business had revenue of $13.78 million during the quarter, compared to the consensus estimate of $14.12 million. Intellia Therapeutics had a negative net margin of 774.94% and a negative return on equity of 57.01%. The business’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same quarter last year, the company earned ($1.34) earnings per share. On average, equities analysts expect that Intellia Therapeutics will post -5.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Intellia Therapeutics news, CAO Michael P. Dube sold 1,871 shares of the firm’s stock in a transaction on 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 directly owned 55,266 shares in the company, valued at approximately $960,523.08. This trade represents a 3.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William J. Chase purchased 100,000 shares of Intellia Therapeutics stock in a transaction dated Wednesday, August 20th. The shares were purchased at an average cost of $10.03 per share, with a total value of $1,003,000.00. Following the acquisition, the director owned 134,693 shares of the company’s stock, valued at approximately $1,350,970.79. This trade represents a 288.24% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 3.10% of the company’s stock.

Institutional Trading of Intellia Therapeutics

Several hedge funds have recently bought and sold shares of NTLA. ARK Investment Management LLC boosted its stake in 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 purchasing an additional 474,629 shares during the period. Vanguard Group Inc. increased its stake in shares of Intellia Therapeutics by 1.8% in the third quarter. Vanguard Group Inc. now owns 11,044,820 shares of the company’s stock valued at $190,744,000 after purchasing an additional 192,651 shares during the period. Geode Capital Management LLC raised its holdings in shares of Intellia Therapeutics by 5.1% during the second quarter. Geode Capital Management LLC now owns 2,606,222 shares of the company’s stock valued at $24,449,000 after buying an additional 126,049 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Intellia Therapeutics during the third quarter worth approximately $23,519,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Intellia Therapeutics by 73.0% during 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 period. 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.