Intellia Therapeutics (NASDAQ:NTLA) PT Lowered to $18.00

Intellia Therapeutics (NASDAQ:NTLA) had its target price decreased by research analysts at Robert W. Baird from $24.00 to $18.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 12.85% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $73.00 price target on shares of Intellia Therapeutics in a research report on Thursday, June 27th. Stifel Nicolaus lowered their target price on shares of Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Evercore ISI raised Intellia Therapeutics to a “strong-buy” rating in a research note on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $54.00 price objective on shares of Intellia Therapeutics in a research note on Thursday, September 19th. Finally, Chardan Capital cut their target price on Intellia Therapeutics from $94.00 to $88.00 and set a “buy” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Intellia Therapeutics has an average rating of “Moderate Buy” and an average target price of $59.13.

Intellia Therapeutics Stock Performance

NASDAQ:NTLA opened at $15.95 on Friday. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -2.91 and a beta of 1.76. The stock’s fifty day moving average price is $20.71 and its two-hundred day moving average price is $22.73. Intellia Therapeutics has a 52-week low of $15.35 and a 52-week high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.29). The firm had revenue of $7.00 million during the quarter, compared to analyst estimates of $19.68 million. The firm’s revenue for the quarter was down 48.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.40) earnings per share. On average, equities analysts predict that Intellia Therapeutics will post -5.22 EPS for the current fiscal year.

Insider Buying and Selling at Intellia Therapeutics

In related news, CAO Michael P. Dube sold 2,012 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total transaction of $38,248.12. Following the sale, the chief accounting officer now directly owns 47,012 shares in the company, valued at $893,698.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

A number of large investors have recently added to or reduced their stakes in NTLA. Blue Trust Inc. raised its stake in shares of Intellia Therapeutics by 1,664.3% in the 2nd quarter. Blue Trust Inc. now owns 1,482 shares of the company’s stock valued at $33,000 after purchasing an additional 1,398 shares during the period. EverSource Wealth Advisors LLC raised its position in Intellia Therapeutics by 763.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock valued at $39,000 after buying an additional 1,550 shares during the last quarter. Eastern Bank bought a new stake in Intellia Therapeutics in the 3rd quarter valued at approximately $41,000. First Horizon Advisors Inc. boosted its position in Intellia Therapeutics by 22.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company’s stock worth $58,000 after acquiring an additional 472 shares during the last quarter. Finally, Values First Advisors Inc. acquired a new position in Intellia Therapeutics during the 3rd quarter worth approximately $54,000. Institutional investors own 88.77% of the company’s stock.

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.