Intellia Therapeutics, Inc. (NASDAQ:NTLA) Receives $61.58 Average Price Target from Analysts

Intellia Therapeutics, Inc. (NASDAQ:NTLA) has received a consensus recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $61.58.

A number of equities research analysts recently commented on the stock. Citigroup decreased their target price on shares of Intellia Therapeutics from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. Canaccord Genuity Group restated a “buy” rating and set a $73.00 price target on shares of Intellia Therapeutics in a research note on Thursday, June 27th. Truist Financial reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Intellia Therapeutics in a research report on Monday, June 24th. StockNews.com raised shares of Intellia Therapeutics to a “sell” rating in a research report on Thursday, June 27th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating for the company in a report on Monday, August 12th.

Intellia Therapeutics Price Performance

NASDAQ NTLA opened at $19.72 on Monday. The stock has a market capitalization of $1.90 billion, a PE ratio of -3.68 and a beta of 1.81. The business has a 50 day simple moving average of $23.67 and a two-hundred day simple moving average of $24.79. Intellia Therapeutics has a 1-year low of $19.37 and a 1-year high of $38.71.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.29). The company had revenue of $7.00 million during the quarter, compared to analysts’ expectations of $19.68 million. The business’s revenue was down 48.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.40) earnings per share. On average, analysts anticipate that Intellia Therapeutics will post -5.19 EPS for the current fiscal year.

Institutional Trading of Intellia Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new position in Intellia Therapeutics in the 2nd quarter valued at approximately $449,000. Algert Global LLC increased its holdings in Intellia Therapeutics by 307.0% during the 2nd quarter. Algert Global LLC now owns 68,372 shares of the company’s stock worth $1,530,000 after purchasing an additional 51,572 shares during the period. Scientech Research LLC raised its position in Intellia Therapeutics by 133.0% in the 2nd quarter. Scientech Research LLC now owns 47,101 shares of the company’s stock valued at $1,054,000 after purchasing an additional 26,884 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Intellia Therapeutics by 763.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,753 shares of the company’s stock valued at $39,000 after buying an additional 1,550 shares during the period. Finally, Ensign Peak Advisors Inc increased its stake in shares of Intellia Therapeutics by 23.5% during the second quarter. Ensign Peak Advisors Inc now owns 36,019 shares of the company’s stock worth $806,000 after buying an additional 6,850 shares during the period. 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.