Intellia Therapeutics (NASDAQ:NTLA) Given New $7.00 Price Target at Wedbush

Intellia Therapeutics (NASDAQ:NTLA) had its price target dropped by stock analysts at Wedbush from $9.00 to $7.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Wedbush’s target price indicates a potential downside of 22.69% from the stock’s current price.

NTLA has been the topic of several other reports. William Blair lowered shares of Intellia Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, October 27th. Citizens Jmp cut their price objective on Intellia Therapeutics from $29.00 to $21.00 and set a “market outperform” rating for the company in a research report on Friday. Bank of America cut their target price on shares of Intellia Therapeutics from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, October 27th. Wells Fargo & Company reissued an “equal weight” rating and set a $17.00 target price (down previously from $45.00) on shares of Intellia Therapeutics in a report on Tuesday, October 28th. Finally, JMP Securities lowered their price target on shares of Intellia Therapeutics from $33.00 to $29.00 and set a “market outperform” rating on the stock in a research report on Tuesday, October 28th. Twelve 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 stock. According to MarketBeat, Intellia Therapeutics currently has a consensus rating of “Hold” and an average price target of $21.78.

Intellia Therapeutics Stock Performance

NASDAQ NTLA traded down $3.27 on Friday, reaching $9.05. The company had a trading volume of 13,722,650 shares, compared to its average volume of 5,056,606. The company’s fifty day moving average is $17.23 and its 200-day moving average is $12.46. The firm has a market capitalization of $971.95 million, a price-to-earnings ratio of -1.92 and a beta of 2.44. Intellia Therapeutics has a 1-year low of $5.90 and a 1-year high of $28.25.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $14.12 million. During the same period last year, the company earned ($1.34) earnings per share. The firm’s revenue was up 51.6% compared to the same quarter last year. On average, research analysts forecast that Intellia Therapeutics will post -5.07 earnings per share for the current year.

Insider Buying and Selling at Intellia Therapeutics

In related news, CAO Michael P. Dube sold 1,871 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were 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 owned 55,266 shares of the company’s stock, valued at $960,523.08. This represents a 3.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William J. Chase purchased 100,000 shares of the 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 completion of the acquisition, the director directly owned 134,693 shares of the company’s stock, valued at approximately $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

Institutional investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. increased its holdings 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 purchasing an additional 6,722 shares during the period. D.A. Davidson & CO. grew its position in shares of Intellia Therapeutics by 76.2% in the 1st quarter. D.A. Davidson & CO. now owns 26,020 shares of the company’s stock valued at $185,000 after buying an additional 11,250 shares during the last quarter. Voya Investment Management LLC increased its stake in shares of Intellia Therapeutics by 621.5% in the first quarter. Voya Investment Management LLC now owns 208,009 shares of the company’s stock valued at $1,479,000 after buying an additional 179,180 shares during the period. Ballentine Partners LLC bought a new position in shares of Intellia Therapeutics during the second quarter worth about $161,000. Finally, Cyndeo Wealth Partners LLC acquired a new position in shares of Intellia Therapeutics in the second quarter worth approximately $101,000. 88.77% of the stock is owned by institutional investors.

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.