Intellia Therapeutics (NASDAQ:NTLA) Price Target Lowered to $88.00 at Chardan Capital

Intellia Therapeutics (NASDAQ:NTLA) had its price objective lowered by research analysts at Chardan Capital from $94.00 to $88.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Chardan Capital’s price target would indicate a potential upside of 455.21% from the company’s previous close.

A number of other research firms have also recently weighed in on NTLA. Canaccord Genuity Group restated a “buy” rating and issued a $73.00 price target on shares of Intellia Therapeutics in a report on Thursday, June 27th. JPMorgan Chase & Co. lowered their target price on Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Evercore ISI raised Intellia Therapeutics to a “strong-buy” rating in a research note on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $54.00 price objective on shares of Intellia Therapeutics in a research report on Thursday, September 19th. Finally, Stifel Nicolaus dropped their target price on shares of Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.64.

Intellia Therapeutics Price Performance

Shares of NASDAQ NTLA traded down $4.09 during trading on Thursday, hitting $15.85. 11,359,884 shares of the company were exchanged, compared to its average volume of 1,590,030. Intellia Therapeutics has a 1 year low of $15.35 and a 1 year high of $34.87. The company has a market cap of $1.53 billion, a price-to-earnings ratio of -2.96 and a beta of 1.76. The firm’s fifty day moving average price is $20.98 and its 200 day moving average price is $22.87.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings data on Thursday, August 8th. The company reported ($1.52) EPS for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.29). The company had revenue of $7.00 million for the quarter, compared to analysts’ expectations of $19.68 million. During the same quarter in the prior year, the company posted ($1.40) earnings per share. The company’s quarterly revenue was down 48.5% compared to the same quarter last year. On average, research analysts forecast that Intellia Therapeutics will post -5.22 earnings per share for the current year.

Insider Activity

In related news, CAO Michael P. Dube sold 2,012 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total transaction of $38,248.12. Following the transaction, the chief accounting officer now directly owns 47,012 shares in the company, valued at approximately $893,698.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Intellia Therapeutics

Institutional investors have recently bought and sold shares of the stock. ARK Investment Management LLC boosted its holdings in shares of Intellia Therapeutics by 5.5% in the 2nd quarter. ARK Investment Management LLC now owns 11,595,789 shares of the company’s stock valued at $259,514,000 after purchasing an additional 606,507 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Intellia Therapeutics by 8.9% in the first quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock valued at $250,168,000 after acquiring an additional 746,263 shares during the last quarter. Federated Hermes Inc. grew its position in Intellia Therapeutics by 19.2% during the second quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock valued at $51,494,000 after acquiring an additional 371,189 shares during the period. Dimensional Fund Advisors LP increased its stake in Intellia Therapeutics by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,324,561 shares of the company’s stock worth $29,648,000 after acquiring an additional 98,865 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC raised its holdings in shares of Intellia Therapeutics by 8.4% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 1,074,610 shares of the company’s stock worth $29,563,000 after purchasing an additional 83,435 shares during the period. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

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.