Oppenheimer Cuts Intellia Therapeutics (NASDAQ:NTLA) Price Target to $60.00

Intellia Therapeutics (NASDAQ:NTLA) had its price objective trimmed by Oppenheimer from $70.00 to $60.00 in a research note released on Monday,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research analysts have also commented on the company. The Goldman Sachs Group dropped their price target on Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Wedbush reissued a “neutral” rating and issued a $14.00 target price on shares of Intellia Therapeutics in a research note on Thursday, November 7th. Evercore ISI raised shares of Intellia Therapeutics to a “strong-buy” rating in a research note on Friday, August 9th. Stifel Nicolaus reduced their price objective on shares of Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Finally, StockNews.com raised Intellia Therapeutics to a “sell” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.36.

Intellia Therapeutics Stock Performance

Shares of NASDAQ:NTLA opened at $16.11 on Monday. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -2.96 and a beta of 1.81. The firm has a fifty day moving average price of $18.97 and a 200 day moving average price of $22.18. Intellia Therapeutics has a fifty-two week low of $13.95 and a fifty-two week 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 for the quarter, compared to the consensus estimate of $8.28 million. During the same period last year, the company earned ($1.38) EPS. The firm’s revenue for the quarter was down 24.1% on a year-over-year basis. As a group, research analysts predict that Intellia Therapeutics will post -5.13 earnings per share for the current year.

Insider Activity

In related 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 transaction, the chief accounting officer now directly owns 47,012 shares of the company’s stock, valued at $893,698.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. First Horizon Advisors Inc. lifted its stake in shares of Intellia Therapeutics by 22.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company’s stock worth $58,000 after purchasing an additional 472 shares during the last quarter. Elmwood Wealth Management Inc. lifted its position in shares of Intellia Therapeutics by 0.9% during the third quarter. Elmwood Wealth Management Inc. now owns 67,774 shares of the company’s stock valued at $1,393,000 after buying an additional 600 shares during the last quarter. Interchange Capital Partners LLC grew its position in shares of Intellia Therapeutics by 6.5% in the 1st quarter. Interchange Capital Partners LLC now owns 10,909 shares of the company’s stock worth $303,000 after buying an additional 670 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of 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 in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Intellia Therapeutics by 27.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock worth $77,000 after acquiring an additional 794 shares in the last quarter. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

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.