Barclays Has Lowered Expectations for Intellia Therapeutics (NASDAQ:NTLA) Stock Price

Intellia Therapeutics (NASDAQ:NTLA) had its price target cut by investment analysts at Barclays from $24.00 to $14.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 55.12% from the stock’s previous close.

Several other brokerages have also issued reports on NTLA. Wedbush cut their target price on shares of Intellia Therapeutics from $9.00 to $7.00 and set a “neutral” rating for the company in a research report on Friday. JPMorgan Chase & Co. restated an “underweight” rating and issued a $5.00 price target (down previously from $12.00) on shares of Intellia Therapeutics in a research report on Friday. Oppenheimer set a $27.00 target price on Intellia Therapeutics in a research note on Friday. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $14.00 price target (down previously from $21.00) on shares of Intellia Therapeutics in a research note on Tuesday, October 28th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Intellia Therapeutics in a report on Wednesday, October 8th. Twelve research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $21.78.

Intellia Therapeutics Price Performance

Intellia Therapeutics stock traded down $3.30 during trading hours on Friday, reaching $9.03. The company had a trading volume of 15,917,066 shares, compared to its average volume of 5,068,268. The company has a 50-day moving average price of $17.23 and a 200 day moving average price of $12.46. Intellia Therapeutics has a 12-month low of $5.90 and a 12-month high of $28.25. The firm has a market cap of $968.83 million, a price-to-earnings ratio of -1.92 and a beta of 2.44.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.92) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.02) by $0.10. Intellia Therapeutics had a negative net margin of 908.48% and a negative return on equity of 57.48%. The company had revenue of $13.78 million for the quarter, compared to analysts’ expectations of $14.12 million. During the same quarter in the previous year, the company earned ($1.34) earnings per share. Intellia Therapeutics’s quarterly revenue was up 51.6% on a year-over-year basis. As a group, research analysts expect that Intellia Therapeutics will post -5.07 earnings per share for the current year.

Insider Activity at Intellia Therapeutics

In related news, CAO Michael P. Dube sold 1,871 shares of Intellia Therapeutics stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $17.38, for a total value of $32,517.98. Following the completion of the transaction, the chief accounting officer directly owned 55,266 shares in the company, valued at approximately $960,523.08. This trade represents a 3.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William J. Chase acquired 100,000 shares of Intellia Therapeutics stock in a transaction dated Wednesday, August 20th. The shares were bought at an average price of $10.03 per share, with a total value of $1,003,000.00. Following the transaction, the director directly owned 134,693 shares in the company, valued at approximately $1,350,970.79. The trade was a 288.24% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 3.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NTLA. Blue Bell Private Wealth Management LLC acquired a new stake in shares of Intellia Therapeutics in the 3rd quarter worth about $30,000. Headlands Technologies LLC acquired a new position in Intellia Therapeutics in the 2nd quarter valued at approximately $26,000. Federated Hermes Inc. increased its stake in shares of Intellia Therapeutics by 39.7% during the 3rd quarter. Federated Hermes Inc. now owns 3,263 shares of the company’s stock worth $56,000 after purchasing an additional 927 shares during the last quarter. Whipplewood Advisors LLC grew its stake in Intellia Therapeutics by 114,900.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 3,450 shares of the company’s stock valued at $32,000 after buying an additional 3,447 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Intellia Therapeutics by 56.4% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,590 shares of the company’s stock valued at $33,000 after buying an additional 1,655 shares during the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

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.