Wells Fargo & Company Issues Pessimistic Forecast for Intellia Therapeutics (NASDAQ:NTLA) Stock Price

Intellia Therapeutics (NASDAQ:NTLA) had its price target lowered by research analysts at Wells Fargo & Company from $80.00 to $70.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 399.29% from the stock’s current price.

Several other brokerages also recently issued reports on NTLA. Evercore ISI upgraded Intellia Therapeutics to a “strong-buy” rating in a research report on Friday, August 9th. Barclays cut their target price on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Wedbush reiterated a “neutral” rating and issued a $14.00 price target on shares of Intellia Therapeutics in a research report on Monday. Citigroup cut their target price on shares of Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $54.00 target price on shares of Intellia Therapeutics in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.88.

Intellia Therapeutics Trading Up 0.4 %

NTLA stock traded up $0.05 during trading on Monday, reaching $14.02. The stock had a trading volume of 3,412,892 shares, compared to its average volume of 1,689,798. Intellia Therapeutics has a 1-year low of $13.54 and a 1-year high of $34.87. The firm has a fifty day moving average price of $18.64 and a 200 day moving average price of $22.04. The company has a market capitalization of $1.43 billion, a P/E ratio of -2.58 and a beta of 1.81.

Intellia Therapeutics (NASDAQ:NTLA) last issued its earnings results on Thursday, November 7th. The company reported ($1.34) EPS for the quarter, topping the consensus estimate of ($1.37) by $0.03. The firm had revenue of $9.10 million during the quarter, compared to analyst estimates of $8.28 million. During the same quarter in the previous year, the business posted ($1.38) EPS. Intellia Therapeutics’s revenue was down 24.1% compared to the same quarter last year. Sell-side analysts predict that Intellia Therapeutics will post -5.13 EPS for the current year.

Insider Activity at Intellia Therapeutics

In other news, CAO Michael P. Dube sold 2,012 shares of the business’s 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 transaction, the chief accounting officer now owns 47,012 shares in the company, valued at approximately $893,698.12. The trade was a 4.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.20% of the stock is owned by corporate insiders.

Institutional Trading of Intellia Therapeutics

Institutional investors have recently modified their holdings of the company. State Street Corp increased its stake in Intellia Therapeutics by 17.9% in the third quarter. State Street Corp now owns 5,143,534 shares of the company’s stock valued at $105,700,000 after acquiring an additional 780,754 shares during the period. Vanguard Group Inc. lifted its position in Intellia Therapeutics by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock worth $250,168,000 after buying an additional 746,263 shares in the last quarter. ARK Investment Management LLC grew its holdings in Intellia Therapeutics by 5.7% during the 3rd quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock worth $251,849,000 after acquiring an additional 659,651 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Intellia Therapeutics by 19.2% in the second quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock valued at $51,494,000 after purchasing an additional 371,189 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its stake in shares of Intellia Therapeutics by 33.5% during the third quarter. Two Sigma Advisers LP now owns 1,027,617 shares of the company’s stock valued at $21,118,000 after acquiring an additional 257,700 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.