Intellia Therapeutics (NASDAQ:NTLA) Given New $26.00 Price Target at Barclays

Intellia Therapeutics (NASDAQ:NTLA) had its price objective trimmed by Barclays from $55.00 to $26.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities analysts have also issued research reports about the company. Chardan Capital cut their price target on Intellia Therapeutics from $91.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday. William Blair reissued a “neutral” rating and issued a $14.00 target price on shares of Intellia Therapeutics in a research note on Monday, November 18th. Wells Fargo & Company cut their target price on Intellia Therapeutics from $60.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday. The Goldman Sachs Group reissued a “sell” rating and issued a $9.00 target price on shares of Intellia Therapeutics in a research note on Friday. Finally, Oppenheimer cut their target price on Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.12.

Intellia Therapeutics Stock Down 7.1 %

Shares of NTLA opened at $10.09 on Friday. Intellia Therapeutics has a 12-month low of $8.96 and a 12-month high of $34.87. The firm has a market capitalization of $1.03 billion, a PE ratio of -1.85 and a beta of 1.80. The stock’s fifty day simple moving average is $10.90 and its 200-day simple moving average is $15.72.

Insiders Place Their Bets

In other Intellia Therapeutics news, CEO John M. Leonard sold 26,807 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 941,115 shares in the company, valued at $11,462,780.70. This represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 29,000 shares of company stock worth $352,551 over the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Polar Asset Management Partners Inc. grew its holdings in shares of Intellia Therapeutics by 1,144.1% during the fourth quarter. Polar Asset Management Partners Inc. now owns 282,400 shares of the company’s stock worth $3,293,000 after buying an additional 259,700 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Intellia Therapeutics during the fourth quarter worth about $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Intellia Therapeutics by 5.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 483,185 shares of the company’s stock worth $5,634,000 after buying an additional 23,173 shares in the last quarter. Voloridge Investment Management LLC grew its holdings in shares of Intellia Therapeutics by 226.8% during the fourth quarter. Voloridge Investment Management LLC now owns 1,526,994 shares of the company’s stock worth $17,805,000 after buying an additional 1,059,751 shares in the last quarter. Finally, Vestal Point Capital LP bought a new position in shares of Intellia Therapeutics during the fourth quarter worth about $6,122,000. 88.77% of the stock is currently owned by institutional investors.

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.