Intellia Therapeutics (NASDAQ:NTLA) Price Target Cut to $18.00 by Analysts at Robert W. Baird

Intellia Therapeutics (NASDAQ:NTLA) had its price objective cut by Robert W. Baird from $24.00 to $18.00 in a report released on Friday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also recently issued reports on NTLA. Stifel Nicolaus dropped their price objective on Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $54.00 price target on shares of Intellia Therapeutics in a research note on Thursday, September 19th. StockNews.com upgraded Intellia Therapeutics to a “sell” rating in a report on Thursday, June 27th. Evercore ISI upgraded Intellia Therapeutics to a “strong-buy” rating in a report on Friday, August 9th. Finally, Chardan Capital decreased their target price on Intellia Therapeutics from $94.00 to $88.00 and set a “buy” rating for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $59.13.

Intellia Therapeutics Trading Up 0.6 %

NTLA stock opened at $15.95 on Friday. The stock has a market cap of $1.62 billion, a PE ratio of -2.91 and a beta of 1.76. Intellia Therapeutics has a 12 month low of $15.35 and a 12 month high of $34.87. The company has a 50-day moving average price of $20.71 and a 200 day moving average price of $22.73.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.29). The business had revenue of $7.00 million for the quarter, compared to analyst estimates of $19.68 million. Intellia Therapeutics’s revenue was down 48.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.40) earnings per share. Sell-side analysts forecast that Intellia Therapeutics will post -5.22 EPS for the current year.

Insiders Place Their Bets

In other Intellia Therapeutics news, CAO Michael P. Dube sold 2,012 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total transaction of $38,248.12. Following the completion of the sale, the chief accounting officer now directly owns 47,012 shares of the company’s stock, valued at approximately $893,698.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intellia Therapeutics

A number of large investors have recently made changes to their positions in the business. ARK Investment Management LLC grew its stake in Intellia Therapeutics by 5.5% during the 2nd quarter. ARK Investment Management LLC now owns 11,595,789 shares of the company’s stock worth $259,514,000 after buying an additional 606,507 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Intellia Therapeutics by 8.9% in the first quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock worth $250,168,000 after acquiring an additional 746,263 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Intellia Therapeutics by 19.2% during the second quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock worth $51,494,000 after acquiring an additional 371,189 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Intellia Therapeutics by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,324,561 shares of the company’s stock valued at $29,648,000 after acquiring an additional 98,865 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC raised its position in shares of Intellia Therapeutics by 8.4% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 1,074,610 shares of the company’s stock valued at $29,563,000 after purchasing an additional 83,435 shares during 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.