Wells Fargo & Company Cuts Intellia Therapeutics (NASDAQ:NTLA) Price Target to $12.00

Intellia Therapeutics (NASDAQ:NTLA) had its price objective decreased by Wells Fargo & Company from $17.00 to $12.00 in a research report released on Friday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other equities analysts also recently issued reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Intellia Therapeutics in a research report on Wednesday, October 8th. Citizens Jmp dropped their price objective on shares of Intellia Therapeutics from $29.00 to $21.00 and set a “market outperform” rating on the stock in a research report on Friday. Chardan Capital lowered their target price on shares of Intellia Therapeutics from $60.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, October 27th. Tudor Pickering set a $14.50 target price on Intellia Therapeutics in a report on Tuesday, October 28th. Finally, Barclays decreased their price target on Intellia Therapeutics from $24.00 to $14.00 and set an “overweight” rating for the company in a report on Friday. Twelve analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Intellia Therapeutics currently has an average rating of “Hold” and a consensus target price of $18.70.

Intellia Therapeutics Trading Up 2.2%

NTLA traded up $0.21 during trading hours on Friday, hitting $9.73. 13,349,413 shares of the company’s stock were exchanged, compared to its average volume of 5,144,639. The firm has a market cap of $1.04 billion, a P/E ratio of -2.28 and a beta of 2.45. Intellia Therapeutics has a 12-month low of $5.90 and a 12-month high of $28.25. The firm has a 50 day moving average of $17.19 and a 200 day moving average of $12.53.

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

Insiders Place Their Bets

In other news, CAO Michael P. Dube sold 1,871 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were 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 owned 55,266 shares in the company, valued at approximately $960,523.08. This trade represents a 3.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William J. Chase bought 100,000 shares of the stock in a transaction dated Wednesday, August 20th. The stock was purchased at an average cost of $10.03 per share, for a total transaction of $1,003,000.00. Following the acquisition, the director owned 134,693 shares of the company’s stock, valued at approximately $1,350,970.79. This represents a 288.24% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 3.10% 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 bought and sold shares of NTLA. ARK Investment Management LLC lifted its holdings in Intellia Therapeutics by 3.8% in the first quarter. ARK Investment Management LLC now owns 13,011,015 shares of the company’s stock valued at $92,508,000 after acquiring an additional 474,629 shares during the period. Vanguard Group Inc. lifted its stake in shares of Intellia Therapeutics by 1.8% in the third quarter. Vanguard Group Inc. now owns 11,044,820 shares of the company’s stock valued at $190,744,000 after purchasing an additional 192,651 shares during the period. Geode Capital Management LLC boosted its holdings in Intellia Therapeutics by 5.1% during the second quarter. Geode Capital Management LLC now owns 2,606,222 shares of the company’s stock worth $24,449,000 after buying an additional 126,049 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in Intellia Therapeutics during the third quarter worth about $23,519,000. Finally, JPMorgan Chase & Co. increased its holdings in Intellia Therapeutics by 73.0% in the second quarter. JPMorgan Chase & Co. now owns 940,483 shares of the company’s stock valued at $8,822,000 after buying an additional 396,858 shares in the last quarter. 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.