Intellia Therapeutics (NASDAQ:NTLA) Price Target Cut to $12.00 by Analysts at The Goldman Sachs Group

Intellia Therapeutics (NASDAQ:NTLA) had its target price dropped by analysts at The Goldman Sachs Group from $19.00 to $12.00 in a report released on Tuesday,Benzinga reports. The brokerage presently 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 previous close.

NTLA has been the subject of several other research reports. Barclays lowered their target price on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. William Blair reissued a “neutral” rating and set a $14.00 target price on shares of Intellia Therapeutics in a research note on Monday, November 18th. 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. Royal Bank of Canada restated an “outperform” rating and set a $54.00 price objective on shares of Intellia Therapeutics in a research report on Thursday, September 19th. Finally, Wells Fargo & Company cut their target price on Intellia Therapeutics from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.06.

Intellia Therapeutics Trading Up 2.1 %

Shares of Intellia Therapeutics stock opened at $10.26 on Tuesday. The business’s fifty day moving average price is $13.67 and its 200 day moving average price is $18.84. The stock has a market capitalization of $1.04 billion, a P/E ratio of -1.89 and a beta of 1.83. Intellia Therapeutics has a twelve month low of $9.65 and a twelve month high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) EPS for the quarter, beating the consensus estimate of ($1.37) by $0.03. The company had revenue of $9.10 million during the quarter, compared to analysts’ expectations of $8.28 million. The company’s revenue for the quarter was down 24.1% compared to the same quarter last year. During the same period last year, the business earned ($1.38) earnings per share. As a group, sell-side analysts predict that Intellia Therapeutics will post -5.12 EPS for the current year.

Insider Buying and Selling at Intellia Therapeutics

In other 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 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 28,735 shares of company stock valued at $349,909 in the last 90 days. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intellia Therapeutics

A number of hedge funds have recently made changes to their positions in the company. State Street Corp raised its holdings in Intellia Therapeutics by 17.9% during the 3rd quarter. State Street Corp now owns 5,143,534 shares of the company’s stock worth $105,700,000 after purchasing an additional 780,754 shares during the last quarter. ARK Investment Management LLC increased its position in shares of Intellia Therapeutics by 5.7% during the 3rd quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock worth $251,849,000 after purchasing an additional 659,651 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Intellia Therapeutics by 33.5% in the 3rd quarter. Two Sigma Advisers LP now owns 1,027,617 shares of the company’s stock valued at $21,118,000 after buying an additional 257,700 shares during the last quarter. Sphera Funds Management LTD. lifted its stake in Intellia Therapeutics by 108.8% in the third quarter. Sphera Funds Management LTD. now owns 291,080 shares of the company’s stock valued at $5,982,000 after acquiring an additional 151,661 shares during the last quarter. Finally, Patient Square Capital LP acquired a new stake in Intellia Therapeutics in the third quarter valued at $2,642,000. 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.