Citizens Jmp Cuts Intellia Therapeutics (NASDAQ:NTLA) Price Target to $21.00

Intellia Therapeutics (NASDAQ:NTLA) had its price target reduced by stock analysts at Citizens Jmp from $29.00 to $21.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. Citizens Jmp’s target price indicates a potential upside of 125.03% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intellia Therapeutics in a report on Wednesday, October 8th. Bank of America cut their price objective on Intellia Therapeutics from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, October 27th. Barclays lowered their target price on Intellia Therapeutics from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Tuesday, October 28th. Sanford C. Bernstein set a $14.50 price target on Intellia Therapeutics in a research note on Tuesday, October 28th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $17.00 price target (down from $45.00) on shares of Intellia Therapeutics in a report on Tuesday, October 28th. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Intellia Therapeutics presently has an average rating of “Hold” and an average target price of $21.78.

Intellia Therapeutics Stock Down 24.3%

Shares of NTLA stock traded down $2.99 during trading hours on Friday, reaching $9.33. The company’s stock had a trading volume of 10,249,131 shares, compared to its average volume of 5,038,943. Intellia Therapeutics has a fifty-two week low of $5.90 and a fifty-two week high of $28.25. The firm’s 50 day simple moving average is $17.23 and its 200-day simple moving average is $12.46. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of -2.02 and a beta of 2.44.

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

Insider Activity

In related news, CAO Michael P. Dube sold 1,871 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $17.38, for a total transaction of $32,517.98. Following the completion of the sale, the chief accounting officer owned 55,266 shares of the company’s stock, valued at $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 available at the SEC website. Also, Director William J. Chase bought 100,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was acquired at an average price of $10.03 per share, with a total value of $1,003,000.00. Following the completion of the acquisition, the director owned 134,693 shares of the company’s stock, valued at $1,350,970.79. This represents a 288.24% increase in their position. The disclosure for this purchase is available in the SEC filing. 3.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intellia Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. grew its stake in Intellia Therapeutics by 51.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,726 shares of the company’s stock valued at $140,000 after acquiring an additional 6,722 shares during the period. D.A. Davidson & CO. boosted its stake in Intellia Therapeutics by 76.2% during the 1st quarter. D.A. Davidson & CO. now owns 26,020 shares of the company’s stock valued at $185,000 after purchasing an additional 11,250 shares during the last quarter. Voya Investment Management LLC boosted its stake in Intellia Therapeutics by 621.5% during the 1st quarter. Voya Investment Management LLC now owns 208,009 shares of the company’s stock valued at $1,479,000 after purchasing an additional 179,180 shares during the last quarter. Ballentine Partners LLC bought a new stake in Intellia Therapeutics during the 2nd quarter worth approximately $161,000. Finally, Cyndeo Wealth Partners LLC purchased a new stake in shares of Intellia Therapeutics in the second quarter worth approximately $101,000. 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.