The Goldman Sachs Group Issues Pessimistic Forecast for Intellia Therapeutics (NASDAQ:NTLA) Stock Price

Intellia Therapeutics (NASDAQ:NTLA) had its price objective dropped by stock analysts at The Goldman Sachs Group from $19.00 to $12.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 16.96% from the company’s current price.

NTLA has been the subject of several other reports. Robert W. Baird dropped their price objective 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. StockNews.com raised shares of Intellia Therapeutics to a “sell” rating in a research note on Friday, November 8th. Oppenheimer decreased their target price on shares of Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday. William Blair reiterated a “neutral” rating and issued a $14.00 price target on shares of Intellia Therapeutics in a research note on Monday, November 18th. Finally, Chardan Capital boosted their price objective on Intellia Therapeutics from $88.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Intellia Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $51.06.

Intellia Therapeutics Stock Performance

Shares of Intellia Therapeutics stock opened at $10.26 on Tuesday. The firm has a 50-day moving average of $13.67 and a 200-day moving average of $18.84. Intellia Therapeutics has a 52-week low of $9.65 and a 52-week high of $34.87. The stock has a market cap of $1.04 billion, a PE ratio of -1.89 and a beta of 1.83.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings results 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 company had revenue of $9.10 million for the quarter, compared to analyst estimates of $8.28 million. The company’s quarterly revenue was down 24.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.38) EPS. Equities research analysts predict that Intellia Therapeutics will post -5.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of Intellia Therapeutics stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $12.18, for a total value of $326,509.26. Following the completion of the sale, the chief executive officer now directly owns 941,115 shares in the company, valued at approximately $11,462,780.70. The trade was a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 28,735 shares of company stock worth $349,909. 3.20% of the stock is currently owned by insiders.

Institutional Trading of Intellia Therapeutics

Large investors have recently modified their holdings of the stock. ARK Investment Management LLC increased its position in Intellia Therapeutics by 5.7% in the 3rd quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock valued at $251,849,000 after buying an additional 659,651 shares in the last quarter. State Street Corp grew its stake in 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 period. Geode Capital Management LLC increased its holdings in shares of Intellia Therapeutics by 2.2% during the third quarter. Geode Capital Management LLC now owns 2,343,310 shares of the company’s stock valued at $48,164,000 after acquiring an additional 49,367 shares in the last quarter. FMR LLC increased its holdings in shares of 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 acquiring an additional 111,104 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Intellia Therapeutics by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,324,561 shares of the company’s stock worth $29,648,000 after purchasing an additional 98,865 shares during the period. Institutional investors and hedge funds 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.