Citigroup Issues Positive Forecast for Intellia Therapeutics (NASDAQ:NTLA) Stock Price

Intellia Therapeutics (NASDAQ:NTLA) had its target price lifted by Citigroup from $12.00 to $14.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective points to a potential upside of 41.92% from the company’s current price.

NTLA has been the topic of several other research reports. William Blair reiterated a “neutral” rating and issued a $14.00 price target on shares of Intellia Therapeutics in a research note on Monday, November 18th. Wells Fargo & Company reduced their price objective on Intellia Therapeutics from $60.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday. Oppenheimer reduced their price objective on shares of Intellia Therapeutics from $60.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $13.00 price target (down previously from $45.00) on shares of Intellia Therapeutics in a research report on Friday. Finally, BMO Capital Markets decreased their price target on Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Intellia Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.82.

Intellia Therapeutics Stock Performance

Shares of NASDAQ NTLA traded down $1.00 during trading hours on Friday, hitting $9.87. 2,658,062 shares of the stock were exchanged, compared to its average volume of 3,244,369. The company’s fifty day simple moving average is $10.90 and its two-hundred day simple moving average is $15.72. The company has a market cap of $1.00 billion, a PE ratio of -1.81 and a beta of 1.80. Intellia Therapeutics has a 1-year low of $8.96 and a 1-year high of $34.87.

Insider Activity at Intellia Therapeutics

In related news, CEO John M. Leonard sold 26,807 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $12.18, for a total transaction of $326,509.26. Following the transaction, the chief executive officer now owns 941,115 shares of the company’s stock, valued at approximately $11,462,780.70. This trade represents a 2.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 29,000 shares of company stock valued at $352,551. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of Intellia Therapeutics

A number of hedge funds have recently made changes to their positions in NTLA. ARK Investment Management LLC boosted its position in shares of Intellia Therapeutics by 2.3% during the fourth quarter. ARK Investment Management LLC now owns 12,536,386 shares of the company’s stock valued at $146,174,000 after buying an additional 280,946 shares during the last quarter. Vanguard Group Inc. raised its position in Intellia Therapeutics by 5.8% in the fourth quarter. Vanguard Group Inc. now owns 10,190,053 shares of the company’s stock worth $118,816,000 after acquiring an additional 562,249 shares during the period. State Street Corp boosted its stake in shares of Intellia Therapeutics by 17.9% during the 3rd quarter. State Street Corp now owns 5,143,534 shares of the company’s stock worth $105,700,000 after acquiring an additional 780,754 shares during the last quarter. Regeneron Pharmaceuticals Inc. bought a new stake in shares of Intellia Therapeutics during the 4th quarter valued at $43,177,000. Finally, Geode Capital Management LLC lifted its position in shares of Intellia Therapeutics by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 2,389,240 shares of the company’s stock valued at $27,865,000 after buying an additional 45,930 shares in the last quarter. 88.77% of the stock is 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.