Intellia Therapeutics (NASDAQ:NTLA) Price Target Lowered to $50.00 at BMO Capital Markets

Intellia Therapeutics (NASDAQ:NTLA) had its price objective decreased by investment analysts at BMO Capital Markets from $70.00 to $50.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ target price would suggest a potential upside of 329.18% from the company’s previous close.

A number of other brokerages also recently weighed in on NTLA. Chardan Capital increased their price target on shares of Intellia Therapeutics from $88.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Robert W. Baird decreased their price objective on Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. William Blair reiterated a “neutral” rating and set a $14.00 target price on shares of Intellia Therapeutics in a research note on Monday, November 18th. Barclays decreased their target price on Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Finally, Citigroup cut their price target on Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.06.

Intellia Therapeutics Stock Performance

Shares of NTLA stock opened at $11.65 on Friday. The stock’s fifty day moving average is $13.87 and its 200-day moving average is $19.10. Intellia Therapeutics has a 52 week low of $11.34 and a 52 week high of $34.87. The stock has a market capitalization of $1.19 billion, a PE ratio of -2.14 and a beta of 1.83.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.03. The company had revenue of $9.10 million during the quarter, compared to analyst estimates of $8.28 million. During the same period last year, the company earned ($1.38) EPS. The business’s revenue for the quarter was down 24.1% compared to the same quarter last year. As a group, analysts forecast that Intellia Therapeutics will post -5.12 earnings per share for the current fiscal year.

Insider Activity

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 sale, the chief executive officer now owns 941,115 shares in the company, valued at approximately $11,462,780.70. This represents a 2.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 28,735 shares of company stock valued at $349,909 in the last 90 days. Company insiders own 3.20% of the company’s stock.

Institutional Trading of Intellia Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp grew its holdings in shares of Intellia Therapeutics by 17.9% during the third quarter. State Street Corp now owns 5,143,534 shares of the company’s stock valued at $105,700,000 after buying an additional 780,754 shares during the last quarter. Patient Square Capital LP purchased a new stake in Intellia Therapeutics during the 3rd quarter valued at about $2,642,000. Dimensional Fund Advisors LP increased its holdings in shares of Intellia Therapeutics by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,324,561 shares of the company’s stock valued at $29,648,000 after purchasing an additional 98,865 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Intellia Therapeutics by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 827,545 shares of the company’s stock worth $17,006,000 after purchasing an additional 37,714 shares during the last quarter. Finally, Verition Fund Management LLC lifted its holdings in shares of Intellia Therapeutics by 116.3% during the third quarter. Verition Fund Management LLC now owns 94,426 shares of the company’s stock worth $1,940,000 after purchasing an additional 50,763 shares during the period. 88.77% of the stock is currently owned by institutional investors.

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.