Chardan Capital Cuts Intellia Therapeutics (NASDAQ:NTLA) Price Target to $26.00

Intellia Therapeutics (NASDAQ:NTLA) had its target price reduced by Chardan Capital from $48.00 to $26.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the stock.

NTLA has been the subject of a number of other research reports. Citigroup reiterated a “market outperform” rating on shares of Intellia Therapeutics in a report on Tuesday, October 28th. Wedbush decreased their price target on shares of Intellia Therapeutics from $9.00 to $7.00 and set a “neutral” rating for the company in a research note on Friday. Royal Bank Of Canada lowered their price target on Intellia Therapeutics from $14.00 to $9.00 and set a “sector perform” rating for the company in a report on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of Intellia Therapeutics in a report on Wednesday, October 8th. Finally, Wells Fargo & Company lowered their target price on Intellia Therapeutics from $17.00 to $12.00 and set an “equal weight” rating for the company in a report on Friday. Twelve analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Intellia Therapeutics has an average rating of “Hold” and a consensus target price of $20.26.

Intellia Therapeutics Stock Up 2.3%

Intellia Therapeutics stock traded up $0.22 during midday trading on Friday, reaching $9.74. The stock had a trading volume of 4,959,575 shares, compared to its average volume of 5,109,481. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -2.28 and a beta of 2.45. Intellia Therapeutics has a 52-week low of $5.90 and a 52-week high of $28.25. The company has a fifty day moving average of $17.19 and a 200 day moving average of $12.53.

Intellia Therapeutics (NASDAQ:NTLA) last released its earnings results on Thursday, November 6th. The company reported ($0.92) EPS for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.10. Intellia Therapeutics had a negative return on equity of 57.01% and a negative net margin of 774.94%.The firm had revenue of $13.78 million for the quarter, compared to analysts’ expectations of $14.12 million. During the same quarter in the prior year, the firm posted ($1.34) earnings per share. The company’s quarterly revenue was up 51.6% on a year-over-year basis. Equities research analysts predict that Intellia Therapeutics will post -5.07 EPS for the current year.

Insider Buying and Selling

In other Intellia Therapeutics news, Director William J. Chase acquired 100,000 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was purchased at an average price of $10.03 per share, for a total transaction of $1,003,000.00. Following the acquisition, the director owned 134,693 shares in the company, valued at approximately $1,350,970.79. This trade represents a 288.24% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Michael P. Dube sold 1,871 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $17.38, for a total value of $32,517.98. Following the completion of the sale, the chief accounting officer directly owned 55,266 shares of the company’s stock, valued at $960,523.08. The trade was a 3.27% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NTLA. China Universal Asset Management Co. Ltd. grew its stake in shares of Intellia Therapeutics by 86.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 38,816 shares of the company’s stock worth $670,000 after acquiring an additional 18,012 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of Intellia Therapeutics in the 3rd quarter valued at approximately $23,519,000. Readystate Asset Management LP acquired a new stake in Intellia Therapeutics in the 3rd quarter worth approximately $1,283,000. Axxcess Wealth Management LLC grew its position in Intellia Therapeutics by 11.5% during the 3rd quarter. Axxcess Wealth Management LLC now owns 17,816 shares of the company’s stock worth $308,000 after purchasing an additional 1,839 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Intellia Therapeutics by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 11,044,820 shares of the company’s stock worth $190,744,000 after purchasing an additional 192,651 shares during the last quarter. 88.77% of the stock is 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.