Intellia Therapeutics (NASDAQ:NTLA) Given New $60.00 Price Target at Wells Fargo & Company

Intellia Therapeutics (NASDAQ:NTLA) had its target price lowered by Wells Fargo & Company from $70.00 to $60.00 in a research note published on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other analysts have also commented on NTLA. Barclays lowered their target price on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Wedbush reaffirmed a “neutral” rating and set a $14.00 price objective on shares of Intellia Therapeutics in a research note on Monday, November 18th. Canaccord Genuity Group reissued a “buy” rating and issued a $90.00 target price on shares of Intellia Therapeutics in a research note on Tuesday, November 19th. Robert W. Baird decreased their target price on Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, William Blair reiterated a “neutral” rating and issued a $14.00 price target on shares of Intellia Therapeutics in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Intellia Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $52.81.

Intellia Therapeutics Stock Down 15.1 %

Shares of NTLA opened at $10.20 on Friday. The stock’s fifty day simple moving average is $13.77 and its 200-day simple moving average is $18.99. The firm has a market capitalization of $1.04 billion, a PE ratio of -1.87 and a beta of 1.83. Intellia Therapeutics has a 12-month low of $9.93 and a 12-month high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) earnings per share for the quarter, topping the consensus estimate of ($1.37) by $0.03. The firm had revenue of $9.10 million for the quarter, compared to the consensus estimate of $8.28 million. The business’s revenue for the quarter was down 24.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.38) earnings per share. Analysts anticipate that Intellia Therapeutics will post -5.12 EPS for the current year.

Insider Buying and Selling

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of the company’s stock in a transaction that occurred 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 owns 941,115 shares of the company’s stock, valued at $11,462,780.70. This represents a 2.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders sold 28,735 shares of company stock valued at $349,909. Company insiders own 3.20% of the company’s stock.

Institutional Trading of Intellia Therapeutics

A number of institutional investors have recently made changes to their positions in the business. ARK Investment Management LLC grew its position in Intellia Therapeutics by 5.7% in the third quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock valued at $251,849,000 after purchasing an additional 659,651 shares in the last quarter. State Street Corp increased its position in shares of Intellia Therapeutics by 17.9% in the third quarter. State Street Corp now owns 5,143,534 shares of the company’s stock valued at $105,700,000 after acquiring an additional 780,754 shares during the last quarter. Geode Capital Management LLC raised its holdings in Intellia Therapeutics by 2.2% during the third quarter. Geode Capital Management LLC now owns 2,343,310 shares of the company’s stock worth $48,164,000 after acquiring an additional 49,367 shares in the last quarter. FMR LLC boosted its position in Intellia Therapeutics by 5.0% during the third quarter. FMR LLC now owns 2,339,522 shares of the company’s stock valued at $48,077,000 after purchasing an additional 111,104 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in Intellia Therapeutics by 19.2% in the second quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock valued at $51,494,000 after purchasing an additional 371,189 shares in 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.