Robert W. Baird Lowers Intellia Therapeutics (NASDAQ:NTLA) Price Target to $18.00

Intellia Therapeutics (NASDAQ:NTLA) had its target price dropped by investment analysts at Robert W. Baird from $24.00 to $18.00 in a report released on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 13.56% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $54.00 price objective on shares of Intellia Therapeutics in a research note on Thursday, September 19th. StockNews.com upgraded shares of Intellia Therapeutics to a “sell” rating in a research note on Thursday, June 27th. Chardan Capital cut their price objective on shares of Intellia Therapeutics from $94.00 to $88.00 and set a “buy” rating for the company in a report on Thursday. Stifel Nicolaus reduced their price objective on shares of Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Finally, Evercore ISI raised Intellia Therapeutics to a “strong-buy” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, five have given 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.60.

Intellia Therapeutics Stock Down 20.5 %

Shares of NTLA stock opened at $15.85 on Friday. The firm has a market cap of $1.61 billion, a P/E ratio of -2.89 and a beta of 1.76. The company has a 50 day moving average of $20.84 and a 200-day moving average of $22.82. Intellia Therapeutics has a 12-month low of $15.35 and a 12-month high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Thursday, August 8th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.29). The business had revenue of $7.00 million during the quarter, compared to analyst estimates of $19.68 million. Intellia Therapeutics’s revenue was down 48.5% on a year-over-year basis. During the same period in the prior year, the company earned ($1.40) earnings per share. As a group, equities analysts expect that Intellia Therapeutics will post -5.22 EPS for the current year.

Insider Transactions at Intellia Therapeutics

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,012 shares of Intellia Therapeutics stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 47,012 shares in the company, valued at $893,698.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.20% of the stock is owned by insiders.

Institutional Trading of Intellia Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. First Horizon Advisors Inc. boosted its position in Intellia Therapeutics by 22.1% during the second quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company’s stock valued at $58,000 after buying an additional 472 shares during the period. Elmwood Wealth Management Inc. lifted its stake in shares of Intellia Therapeutics by 0.9% in the 3rd quarter. Elmwood Wealth Management Inc. now owns 67,774 shares of the company’s stock valued at $1,393,000 after acquiring an additional 600 shares during the last quarter. Interchange Capital Partners LLC boosted its holdings in Intellia Therapeutics by 6.5% during the 1st quarter. Interchange Capital Partners LLC now owns 10,909 shares of the company’s stock valued at $303,000 after acquiring an additional 670 shares during the period. Allspring Global Investments Holdings LLC grew its position in Intellia Therapeutics by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,894 shares of the company’s stock worth $245,000 after acquiring an additional 750 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Intellia Therapeutics by 27.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock worth $77,000 after purchasing an additional 794 shares during the period. Hedge funds and other 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.