Chardan Capital Has Lowered Expectations for Intellia Therapeutics (NASDAQ:NTLA) Stock Price

Intellia Therapeutics (NASDAQ:NTLA) had its price objective trimmed by Chardan Capital from $91.00 to $68.00 in a report published on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also commented on NTLA. Morgan Stanley lowered Intellia Therapeutics from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $56.00 to $11.00 in a report on Monday, January 27th. William Blair reiterated a “neutral” rating and set a $14.00 target price on shares of Intellia Therapeutics in a research report on Monday, November 18th. Oppenheimer lowered their target price 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. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $13.00 target price (down from $45.00) on shares of Intellia Therapeutics in a research report on Friday. Finally, Wells Fargo & Company lowered their target price on Intellia Therapeutics from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Intellia Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $42.12.

Intellia Therapeutics Stock Performance

Shares of NASDAQ:NTLA opened at $10.09 on Friday. Intellia Therapeutics has a 52-week low of $8.96 and a 52-week high of $34.87. The firm has a market capitalization of $1.03 billion, a P/E ratio of -1.85 and a beta of 1.80. The stock has a 50 day moving average price of $10.90 and a 200-day moving average price of $15.72.

Insider Transactions 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 transaction of $326,509.26. Following the completion of the sale, the chief executive officer now directly owns 941,115 shares of the company’s stock, valued at $11,462,780.70. This trade represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have sold 29,000 shares of company stock worth $352,551. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Intellia Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Polar Asset Management Partners Inc. increased its position in Intellia Therapeutics by 1,144.1% during the 4th quarter. Polar Asset Management Partners Inc. now owns 282,400 shares of the company’s stock worth $3,293,000 after purchasing an additional 259,700 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in Intellia Therapeutics during the 4th quarter worth approximately $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Intellia Therapeutics by 5.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 483,185 shares of the company’s stock valued at $5,634,000 after purchasing an additional 23,173 shares in the last quarter. Voloridge Investment Management LLC raised its position in shares of Intellia Therapeutics by 226.8% in the 4th quarter. Voloridge Investment Management LLC now owns 1,526,994 shares of the company’s stock valued at $17,805,000 after purchasing an additional 1,059,751 shares in the last quarter. Finally, Vestal Point Capital LP bought a new stake in shares of Intellia Therapeutics in the 4th quarter valued at approximately $6,122,000. Institutional investors and hedge funds own 88.77% of the company’s stock.

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.