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

Intellia Therapeutics (NASDAQ:NTLA) had its target price cut by Wells Fargo & Company from $80.00 to $70.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts also recently issued research reports about the company. StockNews.com raised Intellia Therapeutics to a “sell” rating in a research report on Friday, November 8th. 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 report on Friday, October 25th. Evercore ISI raised shares of Intellia Therapeutics to a “strong-buy” rating in a research report on Friday, August 9th. Chardan Capital lifted their price objective on shares of Intellia Therapeutics from $88.00 to $91.00 and gave the company a “buy” rating in a report on Monday. Finally, JPMorgan Chase & Co. lowered their target price on Intellia Therapeutics from $61.00 to $55.00 and set an “overweight” rating for the company in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Intellia Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $54.94.

Intellia Therapeutics Price Performance

Shares of NTLA opened at $13.86 on Monday. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -2.55 and a beta of 1.81. Intellia Therapeutics has a 1-year low of $12.82 and a 1-year high of $34.87. The company has a 50-day moving average of $18.26 and a 200 day moving average of $21.85.

Intellia Therapeutics (NASDAQ:NTLA) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share for the quarter, beating the consensus estimate of ($1.37) by $0.03. The company had revenue of $9.10 million for the quarter, compared to the consensus estimate of $8.28 million. During the same period in the prior year, the firm posted ($1.38) EPS. The business’s revenue was down 24.1% on a year-over-year basis. On average, equities analysts anticipate that Intellia Therapeutics will post -5.13 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Michael P. Dube sold 2,012 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $19.01, for a total transaction of $38,248.12. Following the sale, the chief accounting officer now directly owns 47,012 shares of the company’s stock, valued at $893,698.12. The trade was a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Intellia Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of 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 purchasing an additional 780,754 shares during the period. Vanguard Group Inc. boosted its position in Intellia Therapeutics by 8.9% in the first quarter. Vanguard Group Inc. now owns 9,093,712 shares of the company’s stock valued at $250,168,000 after buying an additional 746,263 shares during the last quarter. ARK Investment Management LLC boosted its position in Intellia Therapeutics by 5.7% in the third quarter. ARK Investment Management LLC now owns 12,255,440 shares of the company’s stock valued at $251,849,000 after buying an additional 659,651 shares during the last quarter. Federated Hermes Inc. increased its holdings in Intellia Therapeutics by 19.2% in the 2nd quarter. Federated Hermes Inc. now owns 2,300,889 shares of the company’s stock worth $51,494,000 after buying an additional 371,189 shares during the period. Finally, Two Sigma Advisers LP raised its position in Intellia Therapeutics by 33.5% during the 3rd quarter. Two Sigma Advisers LP now owns 1,027,617 shares of the company’s stock worth $21,118,000 after buying an additional 257,700 shares during the last quarter. Hedge funds and other institutional investors 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.