Intellia Therapeutics (NASDAQ:NTLA) Given New $40.00 Price Target at Oppenheimer

Intellia Therapeutics (NASDAQ:NTLA) had its price target lowered by research analysts at Oppenheimer from $60.00 to $40.00 in a report released on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s target price points to a potential upside of 304.86% from the company’s previous close.

NTLA has been the topic of a number of other research reports. Canaccord Genuity Group reissued a “buy” rating and issued a $90.00 target price on shares of Intellia Therapeutics in a research note on Tuesday, November 19th. BMO Capital Markets decreased their price objective on Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday. The Goldman Sachs Group reduced their price target on shares of Intellia Therapeutics from $31.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. William Blair reaffirmed a “neutral” rating and issued a $14.00 price objective on shares of Intellia Therapeutics in a research note on Monday, November 18th. Finally, Wells Fargo & Company lowered their price target on shares of Intellia Therapeutics from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday. One research 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’s stock. Based on data from MarketBeat, Intellia Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.56.

Intellia Therapeutics Trading Down 3.1 %

Shares of NTLA traded down $0.32 during trading hours on Monday, reaching $9.88. 892,111 shares of the company’s stock traded hands, compared to its average volume of 2,912,587. Intellia Therapeutics has a 12 month low of $9.75 and a 12 month high of $34.87. The stock has a market cap of $1.01 billion, a PE ratio of -1.82 and a beta of 1.83. The firm’s 50 day simple moving average is $13.77 and its 200-day simple moving average is $18.93.

Intellia Therapeutics (NASDAQ:NTLA) last announced its earnings results on Thursday, November 7th. The company reported ($1.34) earnings per share (EPS) 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. The company’s revenue for the quarter was down 24.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.38) earnings per share. As a group, analysts expect that Intellia Therapeutics will post -5.12 earnings per share for the current fiscal year.

Insider Transactions at Intellia Therapeutics

In related news, CEO John M. Leonard sold 26,807 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $12.18, for a total transaction of $326,509.26. Following the sale, the chief executive officer now directly owns 941,115 shares of the company’s stock, valued at approximately $11,462,780.70. This represents a 2.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 28,735 shares of company stock valued at $349,909 in the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NTLA. ARK Investment Management LLC raised its holdings in Intellia Therapeutics by 5.7% in 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. State Street Corp increased its holdings in shares of Intellia Therapeutics by 17.9% in the 3rd quarter. State Street Corp now owns 5,143,534 shares of the company’s stock worth $105,700,000 after purchasing an additional 780,754 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Intellia Therapeutics by 2.2% in the third quarter. Geode Capital Management LLC now owns 2,343,310 shares of the company’s stock worth $48,164,000 after purchasing an additional 49,367 shares during the last quarter. FMR LLC lifted its holdings in shares of Intellia Therapeutics by 5.0% during the third quarter. FMR LLC now owns 2,339,522 shares of the company’s stock valued at $48,077,000 after purchasing an additional 111,104 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position 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 buying an additional 98,865 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

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.