Intellia Therapeutics (NASDAQ:NTLA) Price Target Lowered to $50.00 at BMO Capital Markets

Intellia Therapeutics (NASDAQ:NTLA) had its price objective trimmed by BMO Capital Markets from $70.00 to $50.00 in a research report released on Friday,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research firms also recently weighed in on NTLA. Wedbush reissued a “neutral” rating and set a $14.00 price objective on shares of Intellia Therapeutics in a report on Monday, November 18th. Canaccord Genuity Group restated a “buy” rating and set a $90.00 price target on shares of Intellia Therapeutics in a report on Tuesday, November 19th. William Blair reaffirmed a “neutral” rating and issued a $14.00 price objective on shares of Intellia Therapeutics in a research note on Monday, November 18th. Citigroup cut their target price on shares of Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $54.00 price target on shares of Intellia Therapeutics in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.81.

Intellia Therapeutics Stock Down 15.1 %

Intellia Therapeutics stock opened at $10.20 on Friday. The stock has a market cap of $1.04 billion, a PE ratio of -1.87 and a beta of 1.83. Intellia Therapeutics has a 12-month low of $9.93 and a 12-month high of $34.87. The business’s 50-day moving average price is $13.77 and its two-hundred day moving average price is $18.99.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings data 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. During the same quarter in the prior year, the company earned ($1.38) earnings per share. Intellia Therapeutics’s revenue for the quarter was down 24.1% compared to the same quarter last year. As a group, analysts expect that Intellia Therapeutics will post -5.12 earnings per share for the current year.

Insider Activity

In other news, CEO John M. Leonard sold 26,807 shares of Intellia Therapeutics stock in a transaction 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 owns 941,115 shares in the company, valued at $11,462,780.70. The trade was a 2.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 28,735 shares of company stock valued at $349,909 in the last ninety days. 3.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intellia Therapeutics

Large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its position in shares of Intellia Therapeutics by 763.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock worth $39,000 after purchasing an additional 1,550 shares in the last quarter. Eastern Bank acquired a new position in Intellia Therapeutics during the 3rd quarter worth approximately $41,000. Values First Advisors Inc. bought a new position in Intellia Therapeutics in the third quarter worth approximately $54,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Intellia Therapeutics by 27.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock valued at $77,000 after acquiring an additional 794 shares during the period. Finally, KBC Group NV raised its position in shares of Intellia Therapeutics by 37.3% during the third quarter. KBC Group NV now owns 3,753 shares of the company’s stock worth $77,000 after purchasing an additional 1,020 shares during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Intellia Therapeutics Company Profile

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.