Wells Fargo & Company Lowers Intellia Therapeutics (NASDAQ:NTLA) Price Target to $12.00

Intellia Therapeutics (NASDAQ:NTLA) had its price target lowered by equities research analysts at Wells Fargo & Company from $17.00 to $12.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 26.05% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on NTLA. Citigroup reaffirmed a “market outperform” rating on shares of Intellia Therapeutics in a research note on Tuesday, October 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Intellia Therapeutics in a report on Wednesday, October 8th. Robert W. Baird set a $9.00 target price on shares of Intellia Therapeutics in a research report on Thursday, October 30th. HC Wainwright set a $18.00 price target on Intellia Therapeutics in a research report on Thursday, October 30th. Finally, Royal Bank Of Canada reduced their price objective on Intellia Therapeutics from $14.00 to $9.00 and set a “sector perform” rating on the stock in a research note on Friday. Twelve investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $21.35.

Intellia Therapeutics Trading Down 22.7%

Shares of NASDAQ:NTLA traded down $2.80 during mid-day trading on Friday, reaching $9.52. The stock had a trading volume of 25,357,311 shares, compared to its average volume of 5,114,954. The business’s 50 day moving average price is $17.23 and its 200 day moving average price is $12.46. Intellia Therapeutics has a 1 year low of $5.90 and a 1 year high of $28.25. The company has a market cap of $1.02 billion, a P/E ratio of -2.03 and a beta of 2.44.

Intellia Therapeutics (NASDAQ:NTLA) last released its quarterly earnings results 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 during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business posted ($1.34) EPS. Analysts predict that Intellia Therapeutics will post -5.07 earnings per share for the current fiscal year.

Insider Transactions at Intellia Therapeutics

In other news, Director William J. Chase acquired 100,000 shares of Intellia Therapeutics stock in a transaction that occurred on Wednesday, August 20th. The shares were bought at an average cost of $10.03 per share, with a total value of $1,003,000.00. Following the transaction, the director directly owned 134,693 shares of the company’s stock, valued at $1,350,970.79. This trade represents a 288.24% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CAO Michael P. Dube sold 1,871 shares of the business’s 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 transaction, 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 position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of Intellia Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of NTLA. ARK Investment Management LLC boosted its stake in shares of Intellia Therapeutics by 3.8% during the first quarter. ARK Investment Management LLC now owns 13,011,015 shares of the company’s stock valued at $92,508,000 after purchasing an additional 474,629 shares during the period. Vanguard Group Inc. increased its stake in Intellia Therapeutics by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 11,044,820 shares of the company’s stock worth $190,744,000 after buying an additional 192,651 shares during the period. Geode Capital Management LLC lifted its holdings in Intellia Therapeutics by 5.1% during the 2nd quarter. Geode Capital Management LLC now owns 2,606,222 shares of the company’s stock valued at $24,449,000 after buying an additional 126,049 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Intellia Therapeutics by 73.0% in the 2nd 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 in the last quarter. Finally, Armistice Capital LLC increased its position in shares of Intellia Therapeutics by 78.6% during 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. Hedge funds and other institutional investors own 88.77% of the company’s stock.

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.