Intellia Therapeutics (NASDAQ:NTLA) Price Target Raised to $91.00 at Chardan Capital

Intellia Therapeutics (NASDAQ:NTLA) had its price target raised by analysts at Chardan Capital from $88.00 to $91.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock.

Other analysts have also issued reports about the stock. Royal Bank of Canada restated an “outperform” rating and issued a $54.00 price objective on shares of Intellia Therapeutics in a report on Thursday, September 19th. Citigroup dropped their price target on shares of Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Evercore ISI upgraded Intellia Therapeutics to a “strong-buy” rating in a research note on Friday, August 9th. Wedbush restated a “neutral” rating and set a $14.00 price objective on shares of Intellia Therapeutics in a research report on Thursday, November 7th. Finally, StockNews.com raised shares of Intellia Therapeutics to a “sell” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Intellia Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.57.

Intellia Therapeutics Price Performance

Shares of Intellia Therapeutics stock traded up $0.10 during trading hours on Monday, reaching $14.07. The company had a trading volume of 2,046,793 shares, compared to its average volume of 1,682,659. The business has a fifty day simple moving average of $18.64 and a 200 day simple moving average of $22.04. The firm has a market cap of $1.43 billion, a PE ratio of -2.60 and a beta of 1.81. Intellia Therapeutics has a one year low of $13.54 and a one year high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.37) by $0.03. The business had revenue of $9.10 million for the quarter, compared to analysts’ expectations of $8.28 million. During the same quarter in the previous year, the company earned ($1.38) earnings per share. The business’s quarterly revenue was down 24.1% on a year-over-year basis. On average, research analysts forecast that Intellia Therapeutics will post -5.13 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Michael P. Dube sold 2,012 shares of Intellia Therapeutics stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total value of $38,248.12. Following the sale, the chief accounting officer now directly owns 47,012 shares of the company’s stock, valued at approximately $893,698.12. The trade was a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in 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 purchasing an additional 780,754 shares during the period. Vanguard Group Inc. lifted its stake in shares of Intellia Therapeutics by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock worth $250,168,000 after acquiring an additional 746,263 shares during the last quarter. ARK Investment Management LLC boosted its holdings in Intellia Therapeutics by 5.7% during the 3rd quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock valued at $251,849,000 after acquiring an additional 659,651 shares during the period. Federated Hermes Inc. increased its stake in Intellia Therapeutics by 19.2% in the second quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock worth $51,494,000 after purchasing an additional 371,189 shares during the period. Finally, Two Sigma Advisers LP lifted its position in shares of Intellia Therapeutics by 33.5% during the third quarter. Two Sigma Advisers LP now owns 1,027,617 shares of the company’s stock worth $21,118,000 after purchasing an additional 257,700 shares during the last quarter. 88.77% of the stock is owned by 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.