Intellia Therapeutics (NASDAQ:NTLA) Price Target Cut to $68.00 by Analysts at Chardan Capital

Intellia Therapeutics (NASDAQ:NTLA) had its target price reduced by stock analysts at Chardan Capital from $91.00 to $68.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

Several other brokerages also recently weighed in on NTLA. Morgan Stanley downgraded shares of Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $56.00 to $11.00 in a report on Monday, January 27th. StockNews.com upgraded shares of Intellia Therapeutics to a “sell” rating in a research note on Friday, November 8th. BMO Capital Markets reduced their price objective on shares of Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. JPMorgan Chase & Co. restated a “neutral” rating and set a $13.00 target price (down previously from $45.00) on shares of Intellia Therapeutics in a research report on Friday. Finally, Canaccord Genuity Group restated a “buy” rating and set a $90.00 target price on shares of Intellia Therapeutics in a research report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $44.71.

Intellia Therapeutics Trading Down 7.7 %

Shares of NASDAQ:NTLA traded down $0.83 during midday trading on Friday, hitting $10.03. The stock had a trading volume of 1,323,694 shares, compared to its average volume of 3,208,282. The company has a market capitalization of $1.02 billion, a PE ratio of -1.84 and a beta of 1.80. The stock has a 50 day moving average price of $10.90 and a two-hundred day moving average price of $15.72. Intellia Therapeutics has a 1 year low of $8.96 and a 1 year high of $34.87.

Insider Transactions at Intellia Therapeutics

In other news, CEO John M. Leonard sold 26,807 shares of the 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 completion of the sale, the chief executive officer now directly owns 941,115 shares of the company’s stock, valued at $11,462,780.70. This represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 29,000 shares of company stock valued at $352,551 over the last three months. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intellia Therapeutics

A number of hedge funds have recently added to or reduced their stakes in NTLA. Polar Asset Management Partners Inc. grew its holdings in Intellia Therapeutics by 1,144.1% during the fourth quarter. Polar Asset Management Partners Inc. now owns 282,400 shares of the company’s stock valued at $3,293,000 after purchasing an additional 259,700 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Intellia Therapeutics in the fourth quarter worth $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Intellia Therapeutics by 5.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 483,185 shares of the company’s stock worth $5,634,000 after acquiring an additional 23,173 shares during the last quarter. Voloridge Investment Management LLC grew its stake in shares of Intellia Therapeutics by 226.8% in the fourth quarter. Voloridge Investment Management LLC now owns 1,526,994 shares of the company’s stock worth $17,805,000 after acquiring an additional 1,059,751 shares during the last quarter. Finally, Vestal Point Capital LP acquired a new stake in shares of Intellia Therapeutics in the fourth quarter worth $6,122,000. 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.