Intellia Therapeutics (NASDAQ:NTLA) Price Target Lowered to $55.00 at Barclays

Intellia Therapeutics (NASDAQ:NTLA) had its target price reduced by Barclays from $76.00 to $55.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Robert W. Baird decreased their target price on Intellia Therapeutics from $24.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Chardan Capital decreased their target price on Intellia Therapeutics from $94.00 to $88.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Evercore ISI upgraded Intellia Therapeutics to a “strong-buy” rating in a report on Friday, August 9th. Citigroup lowered their price target on Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $54.00 price target on shares of Intellia Therapeutics in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $57.94.

Intellia Therapeutics Stock Up 4.6 %

Intellia Therapeutics stock traded up $0.73 during mid-day trading on Friday, hitting $16.73. 2,418,301 shares of the company’s stock traded hands, compared to its average volume of 2,854,846. Intellia Therapeutics has a one year low of $13.95 and a one year high of $34.87. The company has a market cap of $1.70 billion, a PE ratio of -3.05 and a beta of 1.81. The firm has a 50 day moving average price of $19.17 and a 200 day moving average price of $22.22.

Intellia Therapeutics (NASDAQ:NTLA) last issued its earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) for the quarter, topping 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. The business’s revenue was down 24.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.38) earnings per share. On average, analysts expect that Intellia Therapeutics will post -5.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,012 shares of the business’s 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 completion of the sale, the chief accounting officer now owns 47,012 shares of the company’s stock, valued at $893,698.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.20% of the company’s stock.

Institutional Trading of Intellia Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Intech Investment Management LLC acquired a new stake in shares of Intellia Therapeutics in the third quarter worth about $580,000. Grandfield & Dodd LLC acquired a new position in shares of Intellia Therapeutics during the 3rd quarter worth about $267,000. Jennison Associates LLC lifted its position in shares of Intellia Therapeutics by 21.6% during the 3rd quarter. Jennison Associates LLC now owns 47,899 shares of the company’s stock worth $984,000 after purchasing an additional 8,497 shares during the last quarter. LMR Partners LLP lifted its position in shares of Intellia Therapeutics by 35.3% during the 3rd quarter. LMR Partners LLP now owns 71,100 shares of the company’s stock worth $1,461,000 after purchasing an additional 18,533 shares during the last quarter. Finally, Quest Partners LLC lifted its position in shares of Intellia Therapeutics by 181.6% during the 3rd quarter. Quest Partners LLC now owns 19,748 shares of the company’s stock worth $406,000 after purchasing an additional 12,734 shares during 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.