Intellia Therapeutics (NASDAQ:NTLA) Price Target Cut to $19.00 by Analysts at Citigroup

Intellia Therapeutics (NASDAQ:NTLA) had its price objective lowered by Citigroup from $25.00 to $19.00 in a research report sent to investors on Friday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities research analysts have also recently commented on the company. Robert W. Baird cut their target price on Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday. Royal Bank of Canada restated an “outperform” rating and set a $54.00 target price on shares of Intellia Therapeutics in a report on Thursday, September 19th. StockNews.com raised shares of Intellia Therapeutics to a “sell” rating in a research report on Thursday, June 27th. Canaccord Genuity Group reissued a “buy” rating and set a $73.00 price target on shares of Intellia Therapeutics in a research report on Thursday, June 27th. Finally, JPMorgan Chase & Co. decreased their price objective on Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating for the company in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $59.13.

Intellia Therapeutics Stock Up 0.6 %

Shares of NASDAQ:NTLA opened at $15.95 on Friday. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of -2.91 and a beta of 1.76. Intellia Therapeutics has a 12 month low of $15.35 and a 12 month high of $34.87. The company’s fifty day simple moving average is $20.71 and its 200 day simple moving average is $22.73.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.29). The business had revenue of $7.00 million during the quarter, compared to analysts’ expectations of $19.68 million. Intellia Therapeutics’s revenue for the quarter was down 48.5% on a year-over-year basis. During the same quarter last year, the company earned ($1.40) earnings per share. Research analysts expect that Intellia Therapeutics will post -5.22 earnings per share for the current fiscal year.

Insider Transactions at Intellia Therapeutics

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,012 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total value 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intellia Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of NTLA. Blue Trust Inc. boosted its stake in shares of Intellia Therapeutics by 1,664.3% in the second quarter. Blue Trust Inc. now owns 1,482 shares of the company’s stock valued at $33,000 after buying an additional 1,398 shares during the period. EverSource Wealth Advisors LLC increased its stake in Intellia Therapeutics by 763.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock valued at $39,000 after acquiring an additional 1,550 shares during the last quarter. Eastern Bank acquired a new position in Intellia Therapeutics during the third quarter valued at approximately $41,000. First Horizon Advisors Inc. lifted its position 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 buying an additional 472 shares during the last quarter. Finally, Values First Advisors Inc. bought a new position in shares of Intellia Therapeutics in the third quarter worth about $54,000. Institutional investors and hedge funds own 88.77% of the company’s stock.

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.