Chardan Capital Issues Pessimistic Forecast for Intellia Therapeutics (NASDAQ:NTLA) Stock Price

Intellia Therapeutics (NASDAQ:NTLA) had its target price dropped by investment analysts at Chardan Capital from $48.00 to $26.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Chardan Capital’s target price points to a potential upside of 173.11% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the company. Tudor Pickering set a $14.50 target price on Intellia Therapeutics in a report on Tuesday, October 28th. Wells Fargo & Company reduced their price objective on shares of Intellia Therapeutics from $17.00 to $12.00 and set an “equal weight” rating for the company in a report on Friday. Royal Bank Of Canada lowered their target price on shares of Intellia Therapeutics from $14.00 to $9.00 and set a “sector perform” rating on the stock in a report on Friday. Guggenheim cut shares of Intellia Therapeutics from a “buy” rating to a “neutral” rating in a research report on Monday, October 27th. Finally, HC Wainwright set a $18.00 price objective on Intellia Therapeutics in a report on Thursday, October 30th. Twelve equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.39.

Intellia Therapeutics Price Performance

Shares of NTLA traded down $2.80 during trading hours on Friday, hitting $9.52. The stock had a trading volume of 25,372,622 shares, compared to its average volume of 5,115,169. Intellia Therapeutics has a 1-year low of $5.90 and a 1-year high of $28.25. The firm has a market capitalization of $1.02 billion, a P/E ratio of -2.03 and a beta of 2.44. The firm has a 50 day simple moving average of $17.23 and a 200-day simple moving average of $12.46.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NTLA. Readystate Asset Management LP bought a new position in shares of Intellia Therapeutics during the 3rd quarter valued at approximately $1,283,000. Axxcess Wealth Management LLC raised its holdings in shares of Intellia Therapeutics by 11.5% in the 3rd quarter. Axxcess Wealth Management LLC now owns 17,816 shares of the company’s stock worth $308,000 after purchasing an additional 1,839 shares during the period. Vanguard Group Inc. lifted its stake in Intellia Therapeutics by 1.8% in the third quarter. Vanguard Group Inc. now owns 11,044,820 shares of the company’s stock valued at $190,744,000 after purchasing an additional 192,651 shares during the last quarter. Elmwood Wealth Management Inc. grew its holdings in Intellia Therapeutics by 14.9% during the third quarter. Elmwood Wealth Management Inc. now owns 78,059 shares of the company’s stock valued at $1,348,000 after purchasing an additional 10,135 shares during the period. Finally, Caprock Group LLC bought a new position in Intellia Therapeutics during the third quarter valued at $184,000. 88.77% of the stock is currently owned by hedge funds and other 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.