Intellia Therapeutics (NASDAQ:NTLA) Stock Price Expected to Rise, Citigroup Analyst Says

Intellia Therapeutics (NASDAQ:NTLA) had its price objective upped by equities researchers at Citigroup from $12.00 to $14.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target points to a potential upside of 38.75% from the company’s current price.

Several other equities research analysts have also commented on the company. The Goldman Sachs Group restated a “sell” rating and issued a $9.00 price objective on shares of Intellia Therapeutics in a research report on Friday. StockNews.com upgraded Intellia Therapeutics to a “sell” rating in a research report on Friday, November 8th. William Blair restated a “neutral” rating and issued a $14.00 price objective on shares of Intellia Therapeutics in a research report on Monday, November 18th. Wells Fargo & Company lowered their price objective on Intellia Therapeutics from $60.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Oppenheimer lowered their price objective on Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.12.

Intellia Therapeutics Stock Down 7.1 %

NTLA opened at $10.09 on Friday. The firm’s 50-day moving average price is $10.85 and its 200-day moving average price is $15.64. The company has a market cap of $1.03 billion, a P/E ratio of -1.85 and a beta of 1.80. Intellia Therapeutics has a 52-week low of $8.96 and a 52-week high of $34.87.

Insider Activity at Intellia Therapeutics

In related news, CEO John M. Leonard sold 26,807 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $12.18, for a total value of $326,509.26. Following the completion of the transaction, the chief executive officer now directly owns 941,115 shares of the company’s stock, valued at approximately $11,462,780.70. This represents a 2.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 29,000 shares of company stock valued at $352,551. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NTLA. Mirae Asset Global Investments Co. Ltd. raised 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 valued at $77,000 after purchasing an additional 794 shares during the last quarter. SteelPeak Wealth LLC acquired a new position in Intellia Therapeutics in the 3rd quarter valued at $393,000. Harbor Capital Advisors Inc. raised its stake in Intellia Therapeutics by 71.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 79,205 shares of the company’s stock valued at $1,628,000 after purchasing an additional 32,893 shares during the last quarter. ARK Investment Management LLC raised its stake in Intellia Therapeutics by 5.7% in the 3rd quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock valued at $251,849,000 after purchasing an additional 659,651 shares during the last quarter. Finally, Lewis Asset Management LLC increased its stake in shares of Intellia Therapeutics by 42.5% in the 3rd quarter. Lewis Asset Management LLC now owns 66,308 shares of the company’s stock worth $1,363,000 after acquiring an additional 19,775 shares during the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

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.