Intellia Therapeutics (NASDAQ:NTLA) Given New $9.00 Price Target at Royal Bank Of Canada

Intellia Therapeutics (NASDAQ:NTLA) had its price objective lowered by research analysts at Royal Bank Of Canada from $14.00 to $9.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price would indicate a potential downside of 4.61% from the stock’s current price.

A number of other equities research analysts also recently issued reports on NTLA. Wells Fargo & Company restated an “equal weight” rating and set a $17.00 price objective (down from $45.00) on shares of Intellia Therapeutics in a research report on Tuesday, October 28th. Oppenheimer set a $27.00 price target on Intellia Therapeutics in a report on Friday. Tudor Pickering set a $14.50 price objective on shares of Intellia Therapeutics in a research note on Tuesday, October 28th. Chardan Capital cut their price objective on shares of Intellia Therapeutics from $60.00 to $48.00 and set a “buy” rating on the stock in a research report on Monday, October 27th. Finally, Guggenheim lowered shares of Intellia Therapeutics from a “buy” rating to a “neutral” rating in a report on Monday, October 27th. Twelve 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.com, the company has a consensus rating of “Hold” and an average price target of $21.35.

Intellia Therapeutics Stock Performance

NTLA stock traded down $2.89 during trading on Friday, hitting $9.44. 21,543,798 shares of the company’s stock traded hands, compared to its average volume of 5,089,754. Intellia Therapeutics has a 52 week low of $5.90 and a 52 week high of $28.25. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -2.01 and a beta of 2.44. The business has a fifty day simple moving average of $17.23 and a 200 day simple moving average of $12.46.

Intellia Therapeutics (NASDAQ:NTLA) last posted its 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. Intellia Therapeutics had a negative net margin of 908.48% and a negative return on equity of 57.48%. The firm had revenue of $13.78 million for the quarter, compared to the consensus estimate of $14.12 million. During the same period in the previous year, the firm posted ($1.34) EPS. The business’s quarterly revenue was up 51.6% on a year-over-year basis. Research analysts forecast that Intellia Therapeutics will post -5.07 earnings per share for the current fiscal year.

Insider Transactions at Intellia Therapeutics

In other Intellia Therapeutics news, CAO Michael P. Dube sold 1,871 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer directly owned 55,266 shares of the company’s stock, valued at $960,523.08. The trade was a 3.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William J. Chase bought 100,000 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was bought 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 represents a 288.24% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NTLA. ARK Investment Management LLC lifted its holdings in shares of Intellia Therapeutics by 3.8% in the 1st quarter. ARK Investment Management LLC now owns 13,011,015 shares of the company’s stock worth $92,508,000 after buying an additional 474,629 shares during the period. Vanguard Group Inc. increased its stake in shares of Intellia Therapeutics by 1.8% during the third quarter. Vanguard Group Inc. now owns 11,044,820 shares of the company’s stock valued at $190,744,000 after buying an additional 192,651 shares during the period. Geode Capital Management LLC raised its holdings in shares of Intellia Therapeutics by 5.1% in the second quarter. Geode Capital Management LLC now owns 2,606,222 shares of the company’s stock valued at $24,449,000 after acquiring an additional 126,049 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Intellia Therapeutics by 73.0% in the second quarter. JPMorgan Chase & Co. now owns 940,483 shares of the company’s stock worth $8,822,000 after acquiring an additional 396,858 shares during the period. Finally, Armistice Capital LLC lifted its stake in Intellia Therapeutics by 78.6% in the second quarter. Armistice Capital LLC now owns 650,000 shares of the company’s stock worth $6,097,000 after acquiring an additional 286,000 shares during the period. 88.77% of the stock is currently owned by hedge funds and other 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.