Intellia Therapeutics (NASDAQ:NTLA) Price Target Cut to $50.00 by Analysts at BMO Capital Markets

Intellia Therapeutics (NASDAQ:NTLA) had its price objective reduced by BMO Capital Markets from $70.00 to $50.00 in a report issued on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other research analysts have also issued reports about the stock. Barclays reduced their price target on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Canaccord Genuity Group reiterated a “buy” rating and set a $90.00 price target on shares of Intellia Therapeutics in a research report on Tuesday, November 19th. Chardan Capital raised their target price on shares of Intellia Therapeutics from $88.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Wells Fargo & Company decreased their price target on shares of Intellia Therapeutics from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Citigroup dropped their price objective on shares of Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.81.

Intellia Therapeutics Stock Down 15.1 %

Shares of NASDAQ:NTLA opened at $10.20 on Friday. The business’s 50 day moving average is $13.77 and its 200 day moving average is $18.99. Intellia Therapeutics has a 12-month low of $9.93 and a 12-month high of $34.87. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -1.87 and a beta of 1.83.

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

Insiders Place Their Bets

In related news, CEO John M. Leonard sold 26,807 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $12.18, for a total value of $326,509.26. Following the transaction, the chief executive officer now owns 941,115 shares of the company’s stock, valued at approximately $11,462,780.70. This trade represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders have sold 28,735 shares of company stock valued at $349,909. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NTLA. EverSource Wealth Advisors LLC grew its position in shares of Intellia Therapeutics by 763.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock valued at $39,000 after acquiring an additional 1,550 shares during the period. Eastern Bank bought a new stake in Intellia Therapeutics during the third quarter valued at about $41,000. Values First Advisors Inc. purchased a new stake in Intellia Therapeutics in the third quarter worth about $54,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Intellia Therapeutics by 27.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock worth $77,000 after buying an additional 794 shares during the period. Finally, KBC Group NV lifted its position in shares of Intellia Therapeutics by 37.3% during the 3rd quarter. KBC Group NV now owns 3,753 shares of the company’s stock valued at $77,000 after buying an additional 1,020 shares in 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.