Intellia Therapeutics (NASDAQ:NTLA) Given New $55.00 Price Target at JPMorgan Chase & Co.

Intellia Therapeutics (NASDAQ:NTLA) had its price target lowered by JPMorgan Chase & Co. from $61.00 to $55.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other analysts also recently issued research reports about the company. Cantor Fitzgerald reaffirmed an overweight rating and issued a $65.00 price objective on shares of Intellia Therapeutics in a research note on Monday, June 24th. Wedbush restated a neutral rating and set a $29.00 price target on shares of Intellia Therapeutics in a report on Tuesday, April 23rd. BMO Capital Markets raised their price target on Intellia Therapeutics from $62.00 to $70.00 and gave the stock an outperform rating in a research report on Friday, May 10th. Truist Financial reiterated a buy rating and set a $120.00 price objective on shares of Intellia Therapeutics in a research report on Monday, June 24th. Finally, Citigroup lowered their target price on Intellia Therapeutics from $31.00 to $29.00 and set a neutral rating for the company in a report on Friday, May 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $61.58.

Intellia Therapeutics Stock Performance

Shares of Intellia Therapeutics stock opened at $22.94 on Monday. Intellia Therapeutics has a fifty-two week low of $19.37 and a fifty-two week high of $39.01. The company has a fifty day moving average of $24.17 and a 200 day moving average of $25.19. The company has a market capitalization of $2.21 billion, a P/E ratio of -4.27 and a beta of 1.81.

Intellia Therapeutics (NASDAQ:NTLA) last posted its earnings results on Thursday, August 8th. The company reported ($1.52) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($0.29). The company had revenue of $7.00 million for the quarter, compared to the consensus estimate of $19.68 million. The business’s quarterly revenue was down 48.5% compared to the same quarter last year. During the same period last year, the firm earned ($1.40) earnings per share. Analysts forecast that Intellia Therapeutics will post -4.98 EPS for the current year.

Institutional Trading of Intellia Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NTLA. Blue Trust Inc. lifted its holdings in shares of Intellia Therapeutics by 1,664.3% during the second quarter. Blue Trust Inc. now owns 1,482 shares of the company’s stock worth $33,000 after purchasing an additional 1,398 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Intellia Therapeutics by 763.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock worth $39,000 after acquiring an additional 1,550 shares during the period. Signaturefd LLC raised its holdings in shares of Intellia Therapeutics by 89.3% during the fourth quarter. Signaturefd LLC now owns 1,592 shares of the company’s stock worth $49,000 after purchasing an additional 751 shares during the last quarter. First Horizon Advisors Inc. grew its position in Intellia Therapeutics by 22.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,604 shares of the company’s stock worth $58,000 after purchasing an additional 472 shares during the period. Finally, GAMMA Investing LLC raised its position in Intellia Therapeutics by 1,322.0% during the second quarter. GAMMA Investing LLC now owns 2,645 shares of the company’s stock valued at $59,000 after acquiring an additional 2,459 shares in the last quarter. Institutional investors and hedge funds 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.