Chardan Capital Cuts Intellia Therapeutics (NASDAQ:NTLA) Price Target to $88.00

Intellia Therapeutics (NASDAQ:NTLA) had its price target cut by Chardan Capital from $94.00 to $88.00 in a research report report published on Thursday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. cut their price target on Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating for the company in a report on Monday, August 12th. Evercore ISI raised Intellia Therapeutics to a “strong-buy” rating in a report on Friday, August 9th. Stifel Nicolaus cut their price target on Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. StockNews.com raised Intellia Therapeutics to a “sell” rating in a report on Thursday, June 27th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $73.00 price target on shares of Intellia Therapeutics in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.13.

Intellia Therapeutics Stock Performance

NTLA opened at $15.95 on Thursday. The business’s fifty day moving average is $20.71 and its two-hundred day moving average is $22.73. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -2.91 and a beta of 1.76. Intellia Therapeutics has a one year low of $15.35 and a one year high of $34.87.

Intellia Therapeutics (NASDAQ:NTLA) last posted its earnings results on Thursday, August 8th. The company reported ($1.52) EPS for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.29). The business had revenue of $7.00 million during 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 quarter last year, the firm posted ($1.40) EPS. On average, analysts predict that Intellia Therapeutics will post -5.22 EPS for the current fiscal year.

Insider Activity

In other news, CAO Michael P. Dube sold 2,012 shares of Intellia Therapeutics stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $19.01, for a total value of $38,248.12. Following the transaction, the chief accounting officer now directly owns 47,012 shares of the company’s stock, valued at $893,698.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of NTLA. Blue Trust Inc. lifted its position in Intellia Therapeutics by 1,664.3% during the 2nd quarter. Blue Trust Inc. now owns 1,482 shares of the company’s stock worth $33,000 after acquiring an additional 1,398 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Intellia Therapeutics by 763.5% during the 2nd 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 in the last quarter. Eastern Bank acquired a new position in Intellia Therapeutics during the 3rd quarter worth approximately $41,000. Values First Advisors Inc. acquired a new position in Intellia Therapeutics during the 3rd quarter worth approximately $54,000. Finally, First Horizon Advisors Inc. lifted 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 acquiring an additional 472 shares in the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

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.