Citigroup Issues Positive Forecast for Intellia Therapeutics (NASDAQ:NTLA) Stock Price

Intellia Therapeutics (NASDAQ:NTLA) had its target price upped by stock analysts at Citigroup from $12.00 to $14.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target would suggest a potential upside of 38.75% from the stock’s current price.

A number of other equities analysts have also recently weighed in on NTLA. Canaccord Genuity Group reiterated a “buy” rating and set a $90.00 price target on shares of Intellia Therapeutics in a report on Tuesday, November 19th. StockNews.com upgraded Intellia Therapeutics to a “sell” rating in a report on Friday, November 8th. Wedbush reiterated a “neutral” rating and set a $10.00 price target (down from $14.00) on shares of Intellia Therapeutics in a report on Friday, January 10th. BMO Capital Markets lowered their target price on Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Finally, The Goldman Sachs Group restated a “sell” rating and set a $9.00 target price on shares of Intellia Therapeutics in a report on Friday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $42.12.

Intellia Therapeutics Trading Down 7.1 %

NASDAQ NTLA opened at $10.09 on Friday. The stock has a market cap of $1.03 billion, a PE ratio of -1.85 and a beta of 1.80. Intellia Therapeutics has a twelve month low of $8.96 and a twelve month high of $34.87. The stock has a fifty day simple moving average of $10.85 and a 200-day simple moving average of $15.64.

Insider Transactions at Intellia Therapeutics

In other news, CEO John M. Leonard sold 26,807 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $12.18, for a total transaction of $326,509.26. Following the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 29,000 shares of company stock valued at $352,551. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its position in Intellia Therapeutics by 17.9% during the third quarter. State Street Corp now owns 5,143,534 shares of the company’s stock worth $105,700,000 after buying an additional 780,754 shares during the period. Hennion & Walsh Asset Management Inc. increased its position in Intellia Therapeutics by 125.2% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 120,997 shares of the company’s stock worth $1,411,000 after buying an additional 67,276 shares during the period. Patient Square Capital LP acquired a new position in Intellia Therapeutics during the third quarter worth approximately $2,642,000. Charles Schwab Investment Management Inc. increased its position in Intellia Therapeutics by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 827,545 shares of the company’s stock worth $17,006,000 after buying an additional 37,714 shares during the period. Finally, Avanza Fonder AB acquired a new position in Intellia Therapeutics during the fourth quarter worth approximately $421,000. 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.